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.
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.
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.
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.
A global pandemic, a struggling economy and a new administration throw wrenches into risk managers plans for the year ahead.
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.
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.
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.
During a session at the ABA/ABA Financial Crimes Enforcement Conference today, ABA announced its intent to partner with K2 Integrity, one of the preeminent global risk, compliance, investigations, and monitoring firms.
When asked about threats specifically targeting banks, Federal Bureau of Investigation Director Christopher Wray urged banks to be wary of “cyber criminals targeting the vulnerabilities in third-party services” as a way in to financial institution data.