Why is DMARC Vital for the Banking Industry?

The banking sector has always been a prime target for cybercriminals, and the shift to digital services has amplified the risk. As customers conduct more transactions online, the chances of email‑based attacks—phishing, spoofing, and scams—have surged, especially during the COVID‑19 pandemic.

What is DMARC and how does it protect banks?

DMARC (Domain‑Based Message Authentication, Reporting, and Conformance) builds on SPF and DKIM to verify that emails claiming to come from a bank’s domain are legitimate. When a message fails DMARC checks, the receiving server can quarantine or reject it, preventing fraudsters from impersonating the bank. Learn more about DMARC.

• None (p=none): No action is taken; reports are still generated.
• Quarantine (p=quarantine): Suspicious messages go to the spam folder.
• Reject (p=reject): Invalid messages are blocked outright.

How widely is DMARC adopted in U.S. banks?

Cyber‑attacks on banks cost an estimated $18.3 million per year. In 2021 there were 4,236 FDIC‑insured commercial banks. Palisade’s analysis of 2,646 .bank domains found that only 1,338 (≈50 %) had a DMARC record.

Among those 1,338 banks:

• 89 (6.65 %) use a none policy.
• 56 (4.18 %) use quarantine.
• 1,193 (89.1 %) use reject, but 406 (34 %) of the reject‑policy banks do not publish a rua tag, meaning they miss valuable DMARC reports.

Why does DMARC matter for banks?

DMARC stops Business Email Compromise (BEC) attacks by ensuring only authorized servers can send mail from a bank’s domain. This protects customers from fraudulent requests for personal data, account numbers, or payment of “fees.” It also safeguards the bank’s brand reputation by reducing spoofed emails that land in inboxes.

How can banks add DMARC to their DNS?

Palisade offers a free DMARC record generator. Simply generate the record, copy the string, and paste it into your DNS zone. For full protection, also configure SPF (learn more about SPF) and DKIM (learn more about DKIM).

Quick Takeaways

• Only about half of U.S. banks have DMARC enabled.
• 89 % of those using DMARC choose a reject policy, the strongest setting.
• One‑third of reject‑policy banks miss reporting because they omit the rua tag.
• DMARC, together with SPF and DKIM, dramatically cuts phishing and BEC risk.
• Implementing DMARC is free and can be done with Palisade’s online generator.
• Regular DMARC reports help banks monitor abuse and fine‑tune their policies.
• Strong email authentication protects both customers and the bank’s brand.

FAQs

1. What is the difference between SPF, DKIM, and DMARC? SPF checks the sending IP, DKIM adds a cryptographic signature, and DMARC tells receivers how to handle messages that fail SPF or DKIM. Together they form a layered defense.
2. Can I see how my bank is performing on DMARC? Yes, use Palisade’s email security score to get a detailed report.
3. Do I need to change my DNS provider? No, you only add a TXT record to your existing DNS zone.
4. How often should I review DMARC reports? At least monthly, especially after policy changes, to catch new sources of abuse.
5. What if I’m not ready for a reject policy? Start with p=none to gather data, then move to quarantine and finally reject as confidence grows.

Ready to secure your bank’s email? Contact Palisade for expert assistance.