Protecting Your Bank's Online Identity: A Vital Step In .
The article that I have chosen deals with important steps a bank needs to take to protect its customers from cyber fraud. The Office of the Comptroller of the Currency (OCC) has warned banks to take the preventive steps to monitor their website brand names and most importantly, domain names. The OCC is demanding that banks take preventive measures; otherwise they may find themselves in violation of the OCC guidelines.
The first preventive measure that the OCC advises banks to use is to control domain name selection and registration. The OCC recognized that fraud on the Internet was a serious problem and fictitious websites were using similar domain names of banks to mislead the customer into their site to get their personal and financial information. By registering the domain name and taking measures to protect against domain name server intrusions, the bank is insuring security to its customers.
The second measure is to control changes to domain name registration. Banks need to be aware of all possible domain name variations related to the bank's name to ensure security. This measure may entail a portfolio of thousands of domain names. If they do not, then a cyber criminal might set up a domain name that is very similar to the legitimate site. This poses serious problems because it is a trap that lures customers to fraudulent sites and entices them to give their financial information. But buy doing so prevents loss of clientele and it maintains the company's solid reputation.
The third measure is protecting against domain server intrusions. This is vital for the stability and livelihood of any web-based commerce because if the domain server is susceptible to hacking and other forms of manipulation, it will scare costumers away. In order to have a successful and reputable domain name, the system needs to be protected, otherwise the reputation of the bank will be under fire.