FinCEN Warns of COVID-19-Related Cyber Fraud
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.
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FinCEN Alerts Banks to Virtual Currency Scam Involving Twitter Accounts
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.
CFTC Supports Industry-Developed Cybersecurity Profile
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.
How Privacy-Enhanced Technologies Can Make Financial Crime Compliance More Effective
Financial institutions will need to break out of old paradigms and adopt improved information sharing strategies that enable more efficient criminal investigations.
FinCEN: Fraud Schemes Pegged to Remote Environments, Pandemic News
Financial Crimes Enforcement Network Director Kenneth Blanco today outlined several coronavirus-related trends FinCEN is seeing in cyber crime.
Emerging Vectors for Payments Fraud
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
Go Hack Yourself
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.
Losses from Romance Scams Increased in 2019, FTC Finds
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.
FDIC, OCC Issue Joint Statement on Heightened Cybersecurity Risk
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.
Making Customers Feel Protected from Cyber Risk
When all banks are pushing forward in the race to adopt the latest innovation and emerging technologies, remember that cybersecurity is essential to remain competitive while protecting account holders. Be the trusted resource that empowers consumers to guard against fraud and cyber-attacks.