Fraud

Cryptocurrency transactions are difficult to detect. Don’t let your customers fall into the trap. Bankers, help your customers be aware of common scam methods, so they can protect themselves. Download this poster provided by the U.S. Secret Service, and post it in your bank today!

OBA-member banks and banks across the nation are seeing an alarming increase in customers withdrawing large sums of cash and entering the cash into a local cryptocurrency ATM based on instructions received from a scammer. The Oklahoma Bankers Association urges our bankers to have conversations with their customers about these prolific scams. Bank employees should notify a supervisor when they …

SSA Lantz Stuart, with the U. S. Secret Service, one of our federal partners, has shared information that counterfeit U.S. Savings Bonds are being fraudulently negotiated in financial institutions across Oklahoma. He has notified us that losses were large ($176,000) for the impacted banks in Nevada where it originated and nationwide losses are estimated at over $50 million. This activity …

The following link is a compilation of Cybersecurity and Infrastructure Security Agency info and tools the OBA’s fraud expert, Elaine Dodd, wanted to provide our bankers. Some of it will not necessarily be new information, but CISA wanted to focus attention to it now due to the escalation of the Russia/Ukraine crisis. https://www.cisa.gov/shields-up

We continue to hear from our bankers asking for more information on ATM jackpotting and MITM (Man-in-the-Middle) attacks in our state. A recent Texas Financial Crimes Intelligence Center Intelligence Brief (click here to download) contains updated details on the crime, as well as pictures from convenience store ATMs in Tulsa. A bit of good news is Oklahoma City Police Department recently …

The Cybersecurity and Infrastructure Security Agency, FBI and the National Security Agency have recently issued an alert titled “Understanding and Mitigating Russian State-Sponsored Cyber Threats to U.S. Critical Infrastructure“. It is a valuable addition to your bank’s cyber toolbox and includes mitigation tactics as well as a technical history of these state-sponsored actors. Detection and incident response are also covered …

The U.S. Cybersecurity & Infrastructure Security Agency recently released a security advisory related to a specific logging utility (Log4j) that is embedded in a variety of software enterprise applications. Log4j is very broadly used in a variety of consumer and enterprise services, websites and applications – as well as in operational technology products – to log security and performance information. …

As the year barrels toward its end, we listened to our bankers and heard the need for a tool for robbery training. All banks have their own policies, as they should, and those are usually always clearly communicated to staff. To enhance your training, we have recorded a half-hour Zoom training that includes the basics and best practices on which …

It’s hardly shocking increased use and recognition of cryptocurrency creates new opportunities and challenges for banks. What might surprise you, though, is exactly how the emergence of virtual currency is leaving financial institutions more vulnerable to an all-too-common problem: ransomware. According to the Financial Crimes Enforcement Network, the total U.S.-dollar value of ransomware-related transactions reported during the first half of 2021 …

The Federal Bureau of Investigation and the Cybersecurity and Infrastructure Security Agency recently released a Joint Cybersecurity Advisory, urging businesses to defend themselves from ransomware threats during the holidays and weekends when most businesses are closed. Ransomware attacks and wire fraud with a high impact are most likely to occur just before holidays and weekends. Bankers should encourage their coworkers …