Corporate Account Takeovers


Presented by: Andy Zavoina                  

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Corporate Account Takeover (CAT) is a form of commercial identity theft. While many bankers are aware that Reg E does not protect a commercial account, that does not mean business accounts aren't protected. UCC Article 4A protects commercial accounts, and the court cases we will review in this presentation will demonstrate that the bank cannot avoid its obligations with a contract and loose security measures. Business accounts are attractive to thieves because they hold more funds than the average consumer account. This means your risk is greater and can greatly depend on the security measures used by the business account holder.

In this webinar we will review a 19-point plan initiated by the Texas Bankers Electronic Crime Task Force to control and mitigate risks associated with Internet banking and corporate account takeovers. The plan includes risk rating of accounts, involving your board, general security training, ways to mitigate risk, educating employees on what to be aware of to catch problems sooner, and what to do when a takeover has occurred. Time is critical, minutes count, and the dollars saved may be your own. This program is complements the FFIEC's Supplement to Authentication in an Internet Banking Environment. In fact, the two will work well together.

We will discuss which accounts you need to target for education and awareness (the same accounts the thieves are targeting). You'll learn what your customers can do to protect themselves, and what you should do to protect the bank. We'll share a training program for customers and one for employees that you can customize quickly to meet your needs.

We will discuss cases that have gone to court and examine what banks did and didn't do, and why they often don't win. You'll get the details and the lessons to be learned.

This webinar is of interest to those involved in security, Internet banking, operations monitoring, and technology, as well as the training of staff and customers on Internet banking security.

About the Speaker: Mr. Andy Zavoina, CRCM, is a consultant with the Glia Group, best known for its involvement with

Andy has been in finance and banking for 23 years. Over 20 years were with a holding company with two Central Texas community banks that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. After starting in loan workouts, Mr. Zavoina has been a consumer, commercial and real estate lender and managed those departments as well as being the banks first Webmaster. He was responsible for compliance, management, auditing, and training for both banks.

Andy is a past Chairman of the American Bankers Association's Compliance Executive Committee. He was the 2003 recipient of the American Bankers Association's Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He currently serves on the Editorial Advisory Board for the ABA's Compliance Magazine, Compliance Action magazine, is a member of the ABA's Compliance School Board and is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.

He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written numerous articles and lectured on compliance, the use of the Internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations. Internet policies and other compliance related programs are made available on his personal Web site.

This program was recorded in its entirety in November 2012. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_corp1112
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 06 November, 2012.

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