The CyFin initiative is dedicated to identifying, mitigating, and neutralizing cyber threats targeting the financial services industry. As a predecessor to the initiative, the Stock-Aid initiative was started in February 2007 in an effort to provide a collaborative forum in combating online stock manipulation schemes. The “account compromise” aspect of this initiative stemmed from phishing [...]
The utilization of the Internet for the sale of counterfeit merchandise is a serious problem for US manufacturers and customers. In order to aid in the mitigation of this problem, NCFTA has partnered with the National Intellectual Property Rights Coordination Center (NIPRC) to provide comprehensive and actionable intelligence on individuals/groups involved in the distribution of [...]
In order to address the serious and growing problem of illicit online pharmaceutical sales, the NCFTA established the Pharmaceutical Fraud Initiative (PFI), in partnership with the Federal Bureau of Investigation’s Cyber Initiative and Resource Fusion Unit (CIRFU), and the Internet Crime Complaint Center (IC3). The purpose of this initiative is to provide a neutral forum [...]
The Malware & Botnet initiative is dedicated to better understanding the technology and identifying individuals or groups who utilize malicious code to enable crimes. The NCFTA maintains a collection of data regarding malicious code incidents, the network architecture being utilized to execute the schemes, and the communication channels implemented in these architectures. [...]
What is Internet Fraud Alert? Internet Fraud Alert (IFA) is a system that functions as a centralized clearinghouse and alerting mechanism allowing trusted participants to report compromised credentials that have been uncovered online. Once reported, IFA will issue an alert to the relevant financial institution or other service provider indicating its customer’s credentials have been [...]
FOR IMMEDIATE RELEASE Contact: Fleishman-Hillard Alex Kepnes, 703-575-8900 [email protected] PENNSYLVANIA GOVERNOR TOM CORBETT, FBI, DEPARTMENT OF HOMELAND SECURITY, AND UNITED KINGDOM OFFICIALS TO ADDRESS GOVERNMENT AND INDUSTRY COLLABORATION ON FIGHTING CYBER THREATS Forum to Focus on Steps Industry and Government Must Take to Address Cyber Threats at National, State and Local Levels [...]
Individuals should be vigilant of emails concerning tax refunds. Fraudsters consistently send spam appearing to be from the IRS and financial institutions containing a link to a phishing website and/or malware typically during tax season in the US. Fraudsters then attempt to either socially engineer potential victims and/or infect their computers in order to gain [...]
The NCFTA, along with its law enforcement and industry partners, has observed that cyber criminals are gaining access to compromised email accounts and leveraging the relationship between the email account holder and their financial advisor to request unauthorized wire transfers. The criminals either use the existing email address or slightly change the email address by adding or supplementing a letter or number. The criminals then typically attempt to socially engineer the advisor through stories of hardship or loss in order to justify the wire transfer.
Once the criminals have verified the amount in the account, they request that funds be sent to bank accounts in the US, Australia, and Malaysia. Some of the funds sent to US and Australian accounts have ultimately been sent to Malaysian accounts. Some of the money mules were recruited by romance scams on dating websites. Banks, brokerage firms, and credit unions of all sizes have been affected by this scam.
Please see http://www.ic3.gov/media/2012/EmailFraudWireTransferAlert.pdf for additional information on this scam and guidance on how to report such incidents to law enforcement.