protect your small business from fraud · what are the ways fraud can happen to your business? 2....

© 2017 Regions Bank.

PROTECT YOUR SMALL BUSINESS FROM FRAUD

© 2017 Regions Bank.3

REGIONS FINANCIAL FUNDAMENTALS

This information is general in nature and is not intended to be legal, tax, or

financial advice. Although Regions believes this information to be accurate, it

cannot ensure that it will remain up to date. Statements or opinions of individuals

referenced herein are their own—not Regions'. Consult an appropriate

professional concerning your specific situation and irs.gov for current tax rules.


PROTECT YOURSMALL BUSINESS

[Add your name and title here]

35 Minutes

4 © 2017 Regions Bank.


1. What are the ways fraud can happen to your business?

2. How can you protect your business and yourself?

AGENDAToday we will focus on these big questions . . .

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This information is general in nature and is not intended to be legal, tax, or financial advice. Although Regions believes this information to be accurate, it cannot ensure that it will remain up to date. Statements or opinions of individuals referenced herein are their own—not Regions'. Consult an appropriate professional concerning your specific situation and irs.gov for current tax rules.


protectyourself



72% 71% 71% 73% 71%68%

61% 60% 62%

73% 74%

0%

10%

20%

30%

40%

50%

60%

70%

80%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

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FRAUD IS A PREVAILING THREAT…

Nearly three-fourths of organizations have been victims of fraud.


REVENUE LOSS

CHECKS MOST

VULNERABLE

UNDETECTED FOR

18 MONTHS

LOSSES IMPACT YOUR

BOTTOM LINE

INVOLVE EMPLOYEES

Typical loss due to fraud = $20,300



EDUCATION IS THE KEY TO PREVENTION

INTERNAL CONTROLS

VENDORS

FUNDS TRANSFER

REVENUE LOSS

E-MAIL AND

MALWARE

PRIVATE INFORMATION

FRAUD TRENDS

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BOOKKEEPER FRAUD Hits Small Businesses Harder

I DESERVE

THIS

FINANCIAL PRESSURE RATIONALIZATIONOPPORTUNITY


Joe is 40 and is a bookkeeper for a real estate company. He has worked there for 10 years and has sole responsibility for the company finances including payroll. If you need a check for something…go to Joe. He is a hard worker and never takes a vacation and feels no need for an assistant. He is so committed to his job that he often spends his lunch hours negotiating with new and existing vendors. Joe is often complaining that he does not make enough money and may have to pull his daughter out of private school. He recently threw a big party for the boss at his large house in a gated community and some of the other managers began wondering how he can afford such a lavish lifestyle. An investigation revealed that Joe had stolen over $50,000 to pay his creditors and give himself a hefty raise.

MEET JOE



preventbookkeeper fraud



bestpractices



Cyber Attacks Businesses Are Targets


Cyber Attacks Where are the bad guys?

15


Cyber Attacks Methods of Attack

17

Phishing emails

Banner Ads

Social Networking

Probing


HOW CYBER ATTACKS ARE CARRIED OUT

COMMAND AND CONTROL SERVER

CLIENT

ROOT KIT



COMMAND AND CONTROL SERVER

CLIENT

ROOT KIT



MALWARE

CLIENT



THIEF

CLIENT



CLIENT

iTreasury is currently down; please try again in 15 minutes.

THIEF



THIEF

CLIENTLOGON

CREDENTIALS



BANK ACCOUNT

THIEF

$


BANK ACCOUNT

MONEY MULE



bestpractices



What can you do within the next 24 hours to help protect your business from fraud?



CONGRATULATIONSToday, you will leave with:

The ways fraud can happen to your business

How you can protect your business and yourself

Thank you.

29


Learn More About Meeting Your Financial Goals

Make an appointment with a Regions banker:

Call the Regions Green Line at 1-800-REGIONS

Go to regions.com and click “Make an Appointment”

Visit any Regions branch

30

Visit the Regions Financial Learning Center for free, online interactive videos: Regions.com/learn

Use our online resources including articles, videos, and calculators:

Regions.com/insights

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https://www.regions.com/

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protect your small business from fraud · what are the ways fraud can happen to your business? 2....

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