In recognition of the growing convergence of cyber and traditional financial crimes, the U.S. Secret Service is formally merging its Electronic Crimes Task Forces (ECTFs) and Financial Crimes Task Forces (FCTFs) into a single unified network, which will be known as the Cyber Fraud Task Forces (CFTFs).

The U.S. District Court for the Eastern District of New York entered orders in two separate civil actions, barring eight individuals and entities from continuing to facilitate the transmission of massive volumes of fraudulent robocalls to consumers in the United States, the Department of Justice (DOJ) announced.

With the rise in cyberattacks at the forefront of the news on a near daily basis, it's becoming increasingly clear that the role of risk management and security must be elevated throughout the financial services and banking markets. Physical and IT security leaders are shifting toward a more proactive approach to security than in years' past to address and mitigate the latest emerging trend.