Tuesday, June 18, 2024

Week of June 3

In This Issue…

From Adrian’s desk …

By Adrian Beverage
OBA President & CEO

Just some random tidbits that might be of interest to our bankers this week!

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The Oklahoma legislative session is over … finally. It looked pretty doubtful it would finish on time without the need of a special session as budget negotiations continually stalled. As happens more frequently than not, however, the leaders of the state Senate and House reached an agreement and a deal was done.

So, happy sine die! While we didn’t get everything done we wanted, it was a still a successful session for us in the overall scheme of things.

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With both the legislative session and the OBA Convention behind us, it seems the summer has – unofficially, at least – begun! For me, it means I’m going to take advantage of no looming events to get out, hit the road and visit our banks and bankers over the next several weeks. Keep yours eyes peeled for my green Chevy Tahoe to enter your bank’s parking lot sometime this summer!

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Well, the Nebraska baseball team didn’t end on a winning note, but at least I got to attend a game in person where athletes wearing the red and white won a game! When you live several hours from Lincoln, Nebraska, and are a diehard Cornhuskers fan, you don’t take such opportunities lightly!

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Jackpotting attacks on ATMs increase across country

The U.S. Secret Service is alerting financial institutions to an increase in ATM jackpotting attacks.

ATM jackpotting attacks can cause significant loss, and a new type has been seen lately. On June 3, between 2:30-3:30 a.m., suspects in a light blue Chevy Cruze with a temporary tag expiring Aug. 1, 2024, attempted to conduct malware-style jackpotting attacks on drive-up ATMs in Alex and Chickasha.

The attacks were on Diebold Opteva 7790 models. The suspects appeared to use a master key to access the machine. The hard drives on both ATMs were replaced (fortunately the hard drives they took were encrypted). The suspects were unable to successfully complete the attacks. Financial institutions with similar ATMs (especially those which may not have encryption enabled) should be aware of any suspicious activity or alerts at your ATMs.

The activity did not trigger any alarms.

In the event of a suspected attack: In the event of a confirmed attack: Helpful tips:
Do not touch any part of the machine without gloves on. Notify local law enforcement and the U.S. Secret Service Cyber Crimes Task Force. For any cameras facing the ATM, check camera positions and focus.
Review surveillance for times prior to the machine going out of service. Service technicians should be advised to download electronic journals from the machine prior to removing a hard drive. Ensure clear camera lenses for any camera facing the ATM.
If you can, balance the machine to determine any cash outage. Oklahoma Bankers Association members should notify sharon@oba.com so we can alert other members in the area. Ensure timestamps are present and correct.  Video cannot be used as admissible evidence if it doesn’t have timestamps.

In Oklahoma, any suspected skimming or jackpotting attack should be reported to the U.S. Secret Service Cyber Crimes Task Force at (405) 272-0630. Reference CrimeDex Alerts 353052 and 353051 at crimedex.com (a subscription-based nationwide alert system).

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Join your banking peers in D.C. this fall!

The OBA’s Annual Washington Visit has been scheduled for Sept. 22-24 and the hotel will be The Mayflower Hotel.

Click here to view the brochure. If you have any questions, contact Megan McGuire at the OBA.

We are still finalizing the detailed schedule but we historically meet with the following: ABA, Federal Reserve, FinCEN, Consumer Financial Protection Bureau, FDIC, OCC, Treasury and the Oklahoma delegation.

Login to register online or submit the registration form available in the brochure.

We had 100 Oklahomans in D.C. in 2023, and we are aiming for even more in 2024!

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OBA education corner …

June is here, which means summer is here! OK, well, close enough, especially if you’re a meteorologist! While our live programs begin to slow down over the hot months, it doesn’t mean there aren’t plenty of other upcoming OBA education opportunities to keep an eye on! Take the following for example:

  • Overdraft Programs: Avoiding an Exam Disaster, June 11, webinar — Overdraft programs continue to be a hot button for examiners, especially the CFPB. Despite the guidance and communications issued by the agencies, there is still confusion over what requirements actually apply to the programs you offer.
  • Best-Ever Compliance Checklists for Commercial Loans, June 12, webinar — Don’t let compliance traps trick you. Discover the best practices for business-entity documentation, underwriting documents, guarantors and security interests to ensure your success!
  • Financial Statement Analysis, June 14, webinar — This course addresses financial statements the way a branch banker would in the process of his or her work.
  • TRID:Changed Circumstances & Revised Disclosures, June 18, webinar — This webinar will teach you about TRID’s changed circumstances, tolerances and the Good Faith standard.
  • FCRA/FACTA: A Banker’s Responsibility, June 20, webinar — What are your institution’s responsibilities for compliance with the Fair Credit Reporting Act? The answer is more complex than you might expect. In this webinar, we’ll discuss the nuances of compliance and some of the most common violations.
  • 4 Steps to a Practical Business Continuity Management Plan, June 20, webinar — The consequences to a financial institution can be severe if proper disaster recovery and business continuity planning does not occur and continuity of business fails.
  • Branch Manager Best Practices, June 21, webinar — The way managers treat their team is subtly influenced by what they expect of them. What should you expect? How do you treat them? Learn how to build a team and coach them to success!

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