Banking & Finance

Farmers to Hold Seminars on Thwarting Fraud

CANFIELD, Ohio — Farmers National Bank will hold four free seminars this week to help businesses recognize cyber fraud, thwart hackers and improve the security of their data.

The first, from 11:30 a.m. to 1 p.m. today, will be held at the Wooster Country Club in Wooster, the second from 7:30 to 9 a.m. Wednesday at the Glenmoor County Club in Canton, the third from 11:30 a.m. to 1 p.m. Wednesday at the Avalon Inn, Howland, and the last from 7:30 to 9 a.m. Thursday at the Hampton Inn & Suites, Canfield.

The seminars on protecting businesses against cyber fraud and from hackers feature Matt Neely, director of strategic initiatives for Secure State, a global management consulting firm that focuses on information security.

Farmers Bank uses Secure State to defend its data systems against cyber fraud and from hackers, says Amber Wallace, senior vice president and its chief marketing officer. During the year, Secure State tries to hack into Farmers systems to detect vulnerabilities.

Neely will discuss issues related to cyber security such as identifying risks, how to reduce them, offer case studies where hackers succeeded in gaining access to small-businesses’ data and offer recommendations on steps business owners can take to better protect their data.

The increasing number of small-business customers of Farmers whose data has been compromised led the bank to offer the seminars, Wallace said, adding that the seminars are open to all small-business owners.

Last year, ITRC Data Breeches Reports cited 781 publicized security breaches in the financial services, education, health care and public sectors, Farmers noted. Personal data in more than 169 million records were exposed, ITRC said. “The average cost of each lost or stolen record that contained sensitive data was $154,” ITRC said, with health care the highest at $363 per record, citing IBM/Ponemon’s “Cost of Data Breach Study: Global Analysis.”

Published by The Business Journal, Youngstown, Ohio.