Aug 28 2009 4 mins 1
The FDIC has warned banks: Online crime is increasingly hitting small and mid-size companies in the U.S., draining those entities' bank accounts through fraudulent transfers.
So, how should banks respond to this alert and assist their business customers?
Doug Johnson of the American Bankers Association addresses:
The prevalence of these fraudulent transactions;
How banks should respond to these alerts;
Ways banks can help their business customers protect themselves.
Johnson serves as Senior Policy Analyst for the American Bankers Association, where his public policy responsibilities include payments system technology and the relationship between technology, privacy, and security. He also advises the ABA and its members on a variety of other matters, including social security reform, real estate brokerage, mortgage finance, and public funds.
