ABA Foundation, FTC Release Infographic on Government Imposter Scams
The American Bankers Association Foundation and the Federal Trade Commission today released a new infographic highlighting the problem of government imposter scams.
Browsing: Cybersecurity
The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
Survey: Banks See Business Email Compromise as Biggest Threat
Scams involving business email compromise—through which fraudsters target businesses and their fund transfers— were flagged by banks as the greatest business risk over the next two years, according to a survey from consulting firm Strategic Treasurer and payment company Bottomline.
FTC: Romance Scams Rise 50% Since 2019
The amount of money consumers reported losing to romance scammers has increased by 50% since 2019 and has risen more than fourfold since 2016, the Federal Trade Commission said today.
Executive Privacy Breaches: Serious Risks for Banks
Criminals do not need to bother scouring the depths of the dark web to dig up this personal information. Too often, it’s sitting out in the open for all to see.
Podcast: Predicting Bank Risk in an Unpredictable Year
What’s top of mind for community bank risk managers in 2021? Kristina Schaefer provides an overview of what’s on her radar screen as chief risk officer and general counsel at First Bank and Trust.
Top Bank Risks for 2021
A global pandemic, a struggling economy and a new administration throw wrenches into risk managers plans for the year ahead.
Agencies Propose Rule Regarding Timely Notification of Cyber Attacks
A new proposed rule by the federal banking agencies would require banks to notify their primary regulator within 36 hours of becoming aware that a “computer-security incident” or “notification incident” has occurred.
Security Vendor Reports Major Supply Chain Cyberattack Affecting Government, Private Clients
A major cyberattack announced over the weekend on SolarWinds—a security vendor that serves a wide range of military, private companies, government agencies, and academic institutions—may have allowed hackers to gain access to the emails, systems and data of several of its clients, including the Treasury and Commerce Departments, among others.
FinCEN Releases Guidance on Financial Crime Information Sharing Program
The Financial Crimes Enforcement Network released new guidance on the Patriot Act Section 314(b) information sharing program, FinCEN Director Kenneth Blanco said today at the ABA/ABA Financial Crimes Enforcement Conference.