Standard Chartered Steps Up Cybercrime Fight

Editorial Staff 5 August 2022

Standard Chartered Steps Up Cybercrime Fight

Data from around the world shows that there has been a rise in attempts to trick internet users by scam emails and fake websites.

Standard Chartered has launched a campaign among its staff to protect clients from “phishing” – tricking internet users via deceptive emails into giving away personal or confidential information.

The bank said it is acting at a time when global data shows that such attacks are at record levels. 

Staff from the Consumer, Private and Business Banking business in London, Jersey and Dubai took part in webinars featuring experts and training games to test phishing awareness across teams. More than 1,600 employees attended the webinars.

“Anyone can be a victim of phishing, no matter where they’re located or how much wealth they have, and private banks have an important role to play helping their clients stay safe against fraudsters,” Gary Taylor, chief operating officer for Europe, Standard Chartered Private Bank, said. (Taylor is based in Jersey.)

Attacks continue to proliferate. The National Cyber Security Centre (NCSC), a UK government organisation, received 12 million reported scams as of June 2022. The international coalition Anti-Phishing Working Group observed 1,025,968 total phishing attacks in the first quarter of 2022. The ENISA (European Union Agency for Cybersecurity) Threat Landscape 2021 report highlights that compromise through phishing e-mails remains one of the two most common ransomware infection vectors.

The bank said the campaign runs alongside the resources in place for staff and clients, such as a dedicated fraud information section on the Bank’s internal website, fraud awareness emails and texts sent directly to CPBB clients, transactions monitored across all channels for any indications of activity that may not be aligned with a client’s usual financial behaviour, and client text alerts for all payment activity.

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