How to Secure Your MICR Printer Against Hacks
In December of last year, 50,000 people and businesses got a wakeup call about their printer security from a hacker who was simply looking for a way to occupy his free time.
Using Shodan, a search engine for internet-connected devices, the hacker was able to distribute a message of support for the controversial YouTube vlogger PewDiePie, whose YouTube channel was competing against T-Series to become the most popular channel in the world.
While MICR printers are by nature more secure than the printers used for personal or business communications, and have supporting software to enhance security, it’s important to ensure that your systems are as up-to-date as possible to protect against infiltration. Check fraud is as much of a concern as ever, even in today’s security-obsessed world.
It is possible to hack both check printing software and MICR check printers. Hacking your software or hardware enables a fraudster to produce checks that have all the legitimacy of any other produced by your company.
It is important to not only select a check printer capable of producing detailed activity reports, but to ensure that your team is monitoring and auditing these reports regularly to catch fraud before it becomes an ongoing problem. Positive Pay reports are also necessary to keep track of your transactions with your bank. Remember, if your company cannot provide Positive Pay reports in the event of a fraud, you will be responsible for your losses. Banks have no obligation to make reparations for fraudulent checks if the company cannot provide this documentation.
Your IT and security team should be in charge of additional security requirements for any team member can access or monitor your check printers. Basic security features like password protection can prevent easy access to your MICR printers, but a more robust system should be in place to ensure your total security. This includes a system-wide approach that secures your internal network and VPN, and any computers that can be used to access the MICR printer.
With the billions of dollars in check fraud that occurs each year, it’s no longer possible for businesses to assume that it can’t happen to them. Whether small or large, you need to secure your MICR printer to protect your company from losses.
Sources:
https://www.kaspersky.com/blog/hacked-printer-pewdiepie/24842/
http://www.quadrantsoftware.com/wp-content/uploads/2011/05/check_security_wp_v0801.pdf
