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Minimise your fraud: use these Cybersecurity tips & ideas from THE experts

At least once a week, and sometimes daily, a new report is published on how to minimise cyber attacks and fraud:

  • Earlier this week ThreatMatrix issued The Cybercrime Report: Q1 2017 which is based on actual cybercrime attacks from January – March 2017 that were detected by the ThreatMetrix Digital Identity Network (The Network) during real-time analysis and interdiction of fraudulent online payments, logins and new account applications.
  • Today Kount published the “CFO PERSPECTIVE: THE IMPACT OF FRAUD” e-book which covers: Investments in improving fraud prevention can deliver strong ROI. To attain maximum return, however, it’s necessary to optimize the balance between the three areas of fraud prevention that affect bottom line performance: Direct Loss, Direct Cost, and Revenue Loss.
  • Yesterday CTMfile reviewed Verizon’s 2017 Data Breach Investigations Report (10th year of publication) uncovers the latest trends in cybersecurity.

Use these additional Checklists to keep cyber fraudsters at bay:

  • International Chamber of Commerce (ICC) has published its 'Cyber security guide for business', presenting a number of principles, strategies and actions that can help companies put a cyber security framework into practice
  • Citizens Bank in the USA identified ten common security gaps that companies needed to address to protect themselves when planning for 2013 and which still apply today
  • The board Checklist: the vital questions 
  • 10 steps to Cyber security from UK’s GCHQ’ (UK Government Communications Headquarters) who monitor the Internet and many other networks
  • SANS (System Administration, Networking, and Security Institute) ‘Critical Security Controls’ —a short list of controls developed by security experts world-wide based on practices that are known to be effective in reducing cyber risks
  • NIST (National Institute of Standards and Technology) Framework for Improving Critical Infrastructure Cybersecurity—combines a variety of cybersecurity standards and best practices together, see
  • Shared Assessments—an organization that develops assessment questionnaires for use by its members, see
  • ACFE’s Fraud Prevention Checklist, see 
  • ’40 questions you should have in your vendor security assessment’ from BITsight which shows how to monitor and manage vendor security, see.

CTMfile take:: Remember 1) your biggest weakness fighting cyber fraud are humans, and 2) the biggest source of fraud is not cyber fraud it is still occupational fraud.


This item appears in the following sections:
Fraud Prevention
Anti-Money Laundering Fraud Prevention
ID Systems & Services in Fraud Prevention
Minimizing Fraud Procedures
Minimizing Payment Fraud

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