Companies are increasingly at risk of attack online. Bank of Hope supports our business clients’ efforts to protect themselves from identity theft and financial fraud by implementing protective business practices. Bank of Hope is committed to safeguarding our Business Online Banking access and our clients’ information.
What is Corporate Account Takeover?
Corporate Account Takeover (CATO) occurs when cyber criminals gain access to your computer systems and steal your business online banking information. They then use this information to hijack your bank accounts and transfer funds to themselves via ACH (Automated Clearing House) and Wire transfer.
Protect Yourself
Bank of Hope Business Online Banking platform uses sophisticated security tools to help protect the bank and clients from fraudulent access. Clients can help protect their own systems with these practices:
Detect Unauthorized Access
If you detect unauthorized access or unusual activity, these are some helpful tips:
Respond to Attack
Here are some action items to take once an attack has occurred:
For more information, here is a joint report recently issued by the FBI and other public agencies:
Fraud Advisory for Businesses: Corporate Account Take Over (PDF)
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