Since 2016 FinCEN has issued advisories on the threats of cybercrime. Cybercriminals target the financial system to defraud financial institutions and their customers and to further other illegal activities. Emphasis on identifying and fighting cybercrime has ramped up even more with the AML Act of 2020 and the resulting National Priorities.
- Hackers take advantage of upheaval and disorder and look for potential monetary gain.
- Headlines in 2021 included ransomware attacks on JBS Foods, Colonial Pipeline, Washington DC Metropolitan Police Department, and other major organizations.
- Hackers are exploiting security weaknesses and holding the data of companies, governments, and healthcare organizations hostage, sometimes demanding tens of millions of dollars in payment.
Learn more about these threats from law enforcement and how financial institutions can play an important role in protecting the financial system from these threats.
Join the ACAMS San Diego Baja California chapter in the discussion as we welcome Special Agents from IRS Criminal Investigations and Homeland Security Investigations along with a Chief Information Security Officer with a cyber security background that goes all the way back to leading a software security initiative for the Army in 1989.