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INFORMATION SECURITY AND PROTECTION



This information is intended to help our clients protect themselves from fraud,
including cyberfraud and other fraudulent activity. BNY Mellon maintains active
oversight of our systems in order to protect the security and privacy of client
information; however, our clients are responsible for protecting themselves
against fraudulent activities and for maintaining cybersecurity best practices.

Criminals have capitalized on the broad power and wide availability of the
internet and email to defraud unsuspecting people, and they can be convincing.
They make their fraudulent emails look like they come from legitimate sources.
They publish fake websites that use designs, information and programming stolen
from their rightful owners. They use methods to impersonate you over the phone
to arrange funds transfers, imitate communications from a financial institution
to verify transactions or initiate other changes to your account. Learn more:

 * Phishing: Email and Website Scams
 * Personal Identity Theft: What You Can Do
 * What You Can Do
 * Learn more about Email Security at BNY Mellon
   
   


PHISHING: EMAIL AND WEBSITE SCAMS
 


PHISHING


Phishing (a variation on the word “fishing”) is a technique whereby a fraudster
impersonates a legitimate/reputable entity or person in an attempt to steal
sensitive information. Cyber criminals often target individuals and trick them
into clicking a link, opening an email attachment, accepting a fake request from
a friend to a social networking site, visiting a legitimate website that has
been compromised or using an infected USB drive. These actions can potentially
enable a fraudster to install malware. The malware opens the door for criminals
to steal account login credentials and submit fraudulent wire transfers and/or
ACH payments on your behalf.


The BNY Mellon Service Desk will never ask for your password or any information
about your token (PIN). Be wary of anyone who asks for your credentials and do
not trust any email communication that requests your personal information.

Contact BNY Mellon immediately if you receive an email to this effect from
someone claiming to be from BNY Mellon.



Email


Email is by far the most popular way for criminals to try to get your attention
and personal information. Don't necessarily believe what you're being told.
There are numerous variations of these online scams, so the best defense is
education and a healthy dose of skepticism. And if you’re dealing with
value-bearing instructions (e.g., instructions to move cash or securities), make
sure you’re following your company’s authentication procedures to validate the
instruction as legitimate.

Many fraudulent emails and websites may be characterized by the following:

 * Misspellings and other typographical errors;
 * Poor grammar;
 * Urgent messages in the email subject line;
 * Random characters in the email subject line or body; and /or
 * "Fuzzy" logos, or logos that are distorted.
    

However, some fraudulent emails are very convincing and appear legitimate,
created by sophisticated criminals who are highly motivated to steal your
information. Some recent methods spoof legitimate businesses to trick
individuals into opening an attachment or clicking on the link. For example:


 * Courier (e.g., "There has been a problem with your shipment.")
 * Financial institutions (e.g., "There is a problem with your banking
   account.")
 * Better Business Bureaus (e.g., "A complaint has been filed against you.")
 * Court systems (e.g., "You have been served a subpoena.")
    

In addition to spoofing legitimate businesses, fraudsters may employ Business
Email Compromise to impersonate a senior executive or a trusted client to obtain
access to sensitive data.




Business Email Compromise

This method of impersonating a senior manager or client is sometimes used to
request a wire transfer or other critical actions (such as releasing highly
confidential data or changing wiring destination instructions), using
management’s or a client’s position as a way to bypass standard approvals and
controls.

Oftentimes, the email demands an urgent action and is “time-sensitive”, using
the sender’s influence to pressure the recipient into clicking the link or
taking action.

Even though the email may originate from a known or even trusted source, make
sure you know the email is legitimate before taking action.


Website Spoofing

"Spoofing" is another trick used by fraudsters to create a fake website that
appears to be a legitimate site. To help protect yourself, be aware of how
you're accessing the site:

 * Don't follow a link in an unsolicited email if you have any doubts about the
   sender.
 * Type all website addresses carefully, or use Favorites or Bookmarks to store
   frequently-accessed sites — especially financial-related sites. Misspelling
   the address of a website, even by one letter, may send you to an incorrect,
   possibly fraudulent, website.

Cyber Criminals: Tricks of the Trade

Criminals create new email scams every day, but here are a few of the most
common:

 * Creating a sense of panic. Emails threatening loss of account access, loss of
   credit, foreclosure, etc., are looking to incite panic so that you may lose
   sound judgement and fall victim. Remain calm – when in doubt, call your
   financial institution.
 * Referencing a recent transaction. Vaguely worded emails mentioning a "recent
   transaction“, which requires online verification or asks you to provide
   additional account information, may be trying to scam you into revealing
   sensitive information.
 * Confirming your account information. It is possible that the criminals think
   they already have your account numbers, password, etc., and all they need is
   your confirmation. Don't give them help – do not respond to requests for
   confirmation of information that are unexpected.
 * You're a winner! "Just send money to cover the costs/fees/taxes and you can
   claim your prize." If you respond to this solicitation, the criminal will
   have your money, as well as your credit or debit card information (if you pay
   online), or your checking account number and bank routing information (if you
   pay by check).
 * Your donation is needed. Many criminals act like a legitimate charity to
   request donations, appealing to your emotions and taking advantage of
   tragedies and/or natural disasters. Exercise caution when making charitable
   donations. Make sure you donate directly via the non-profit organization's
   website.





PERSONAL IDENTITY THEFT: WHAT YOU CAN DO

Report any suspicious activity involving BNY Mellon to your customer service
representative.
 

Consider these best practices to help combat cyber fraud (note – this list is
not exhaustive):


 * Use strong passwords, and have a different password for online banking sites
   than you might use for email and other online activities.
 * Never access bank, brokerage or other financial services information from
   public kiosks such as those found at internet cafes, public libraries and
   airports.
 * Use a secure session (https not http) in your browser for all online banking.
 * Do not select the option for automated logins of usernames and passwords for
   online banking.
 * Install anti-virus, desktop firewall and intrusion detection software on your
   computer.
   
   


WHAT YOU CAN DO

Consider the following best practices to help secure computer systems (note –
this list is not exhaustive):

 * Consider using positive pay features to limit check fraud.
 * Consider using debit blocks on disbursement-only accounts.
 * Reconcile banking transactions on a daily basis.
 * If applicable, initiate ACH and wire transfer payments under dual control,
   with a transaction originator and a separate transaction authorizer.
 * If applicable, employ strong authentication controls ensure that instructions
   received for the movement of funds, securities and / or other items of value
   are genuine and presented by a duly authorized individual. Instructions sent
   via an electronic form, with built-in means to maintain the integrity of the
   instructions and to authenticate the sender, are preferable (e.g., SWIFT).
 * Employ strong password requirements, including prohibiting shared usernames
   and passwords.
 * Install commercial anti-virus, desktop firewall and intrusion detection
   software on all computer systems and apply updates regularly.
 * Ensure computers are patched regularly, particularly operating systems and
   key applications.
 * Limit administrative rights on users' workstations to help prevent the
   inadvertent downloading of malware or other viruses — create limited user
   accounts for daily use.
 * Configure routers and firewalls to deny unauthorized access to your computer
   or network.
 * Change the default passwords on all network devices regularly.
 * Block pop-ups.
 * Make sure your employees know how to report suspicious activity to within
   your company.
 * Ensure your contingency plans address the need to recover systems suspected
   of compromise by malware, not just data corruption and catastrophic system /
   hardware failure.
 * Immediately notify BNY Mellon of any suspicious transactions, particularly
   ACH or wire transfers related to your BNY Mellon account(s).
   
   


EMAIL SECURITY AT BNY MELLON

BNY Mellon works to protect the privacy and data integrity of sensitive
information while it is in our possession and control.

In the course of providing services, we may exchange information with clients or
their authorized representatives, which is sensitive and confidential. In order
to protect this information, BNY Mellon requires sensitive information to be
encrypted when transmitted over an open unsecured network.

BNY Mellon provides two encryption methods for electronic messages containing
sensitive information sent to external recipients:

 * Transport Layer Security (TLS)
 * BNY Mellon Secure Messaging Portal
    

Transport Layer Security (TLS) is the primary and preferred method of encryption
for BNY Mellon. TLS encrypts email messages between servers and is designed to
protect confidentiality and data integrity, and is a widely recognized standard
issued by the Internet Engineering Task Force (IETF) for securing transmitted
data. This method of encryption allows email to be automatically secured with no
additional steps required by the sender and recipient. TLS requires our external
partner organizations to have both a TLS-capable infrastructure and a valid
digital certificate for encryption. Once established, this method is the most
convenient for all users and provides seamless encryption for email and
attachments. 

BNY Mellon Secure Messaging Portal is the alternative secure encryption tool
that is utilized when an external partner does not have TLS capability. The
portal encapsulates a message and its attachments into an encrypted message.
Once protected, the encrypted message is sent to recipients as an attachment to
a plain text email. The recipient uses a self-created, pre-registered password
to access the notification and any attachments.

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BNY is the corporate brand of The Bank of New York Mellon Corporation and may be
used to reference the corporation as a whole and/or its various subsidiaries
generally.   ©2024 The Bank of New York Mellon.




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