Pub. 8 2019 Issue 2

19 S u mm e r | 2019 Auctioneers & Appraisers delivering successful results to Virginia Banking institutions since 1963 www.countsauction.com • Escalate suspicion. Train your people that if they get a call that sounds suspicious, they should share it with others on the team. Just because one customer service representative wouldn’t complete a transaction doesn’t mean another attempt won’t be made. It is important to talk amongst yourselves. These fraudsters are diligent, so bank employees must be, too. A consis- tent pattern exists: Crooks don’t stop at just one attempt. They will keep calling back until they either get caught or there is no more money. • If a customer says they can’t be reached at the phone number on file, call it anyway. • Beware of urgency, poor gram- mar, the word “kindly,” and sentences that don’t make sense or use improper words. When these steps are taken and a socially engineered fraudulent instruction attempt fails, cel- ebrate that success. If an employee prevents a fraudulent transac- tion, spread the news. Share the emailed instructions, discuss what was suspicious about it and post examples of fraudulent instruc- tions. This helps the front-line team remember that attempts at fraudulent transactions are real and are constant. Bank employees must remain vigilant. Travelers is committed to managing and mitigating risks and exposures, and does so backed by financial stability and a dedicated team – from underwriters to claim professionals – whose mission is to insure and protect a company’s assets. For more information, visit www.travelers.com or talk to your independent insurance agent about social engineering coverage. F E A T U R E If an employee prevents a fraudulent transaction, spread the news. Share the emailed instructions, discuss what was suspicious about it and post examples of fraudulent instructions.