The coronavirus pandemic response has demonstrated the need for banks to take an “all-hazards approach” when designing a comprehensive operational resilience framework, said Kevin Greenfield, the OCC’s deputy comptroller for operational risk policy during the ABA Risk and Compliance Virtual Conference today.
The Financial Crimes Enforcement Network issued an advisory alerting financial institutions to several types of cybercrime and cyber-enabled crime connected to the coronavirus pandemic.
The Financial Crimes Enforcement Network today warned financial institutions about a recent high-profile scam through which fraudsters exploit prominent Twitter accounts to solicit virtual currency payments from victims.
The Commodity Futures Trading Commission today highlighted a number of available standardized tools that derivatives markets, clearing organizations and swap data repositories could use to assess and improve their level of cybersecurity preparedness.
Financial institutions will need to break out of old paradigms and adopt improved information sharing strategies that enable more efficient criminal investigations.
Financial Crimes Enforcement Network Director Kenneth Blanco today outlined several coronavirus-related trends FinCEN is seeing in cyber crime.
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
As the scale of cyber breaches soars, banks are hiring their own specialty teams or contracting with vendors, all of whom have one mission: think like a constantly changing set of globally active bad actors.
Consumers lost $201 million to romance scams in 2019, an increase of nearly 40% from a year prior, according to new data from the Federal Trade Commission’s Consumer Sentinel Network.
With the potential for cyberattacks against the U.S. rising as a result of geopolitical tensions, the FDIC and OCC yesterday issued a joint statement reminding financial institutions of the principles of sound cybersecurity risk management.