Cyber Financial

NCFTA’s Cyfin Program maintains a trusted community of financial industry stakeholders who responsibly share intelligence, analytical and investigative resources, and cyber-enabled fraud prevention strategies. The team works to assess, identify, connect, and validate cyber-enabled fraud and money laundering activity.

Areas of focus

Money Laundering

The Money Laundering Initiative enables financial institutions to share technical and transactional information relating to abuse of or intrusion into financial accounts and suspected money laundering activity. The purpose is to identify, validate, mitigate, and disrupt this activity, which is often furthered by the use of malware, phishing, or social engineering.

Business Email Compromise

The Business Email Compromise (BEC) Initiative consults with victims of BEC, supports the dissemination of known beneficiary data associated with BEC events, and facilitates the repatriation of misdirected and stolen funds through the Financial Fraud Kill Chain. In support of law enforcement, the BEC initiative works with partners to share details about known offenders and helps to complete suspect targeting packages for use by law enforcement around the globe.

Digital Payment Fraud

The Digital Payment Fraud Initiative concentrates on the use of digital payment services, including cryptocurrency and peer-to-peer (P2P) mobile payments to further cybercrime, fraud, and money laundering.

Crime-as-a-Service

The Crime-as-a-Service (CaaS) Initiative facilitates the development of intelligence relating to transnational organized crime groups that create, maintain, sell, or distribute criminal services, particularly money laundering-as-a-service, to further many variants of cybercrime.

Human Trafficking

The Human Trafficking Initiative focuses on the use of cyber means to advertise and sell access to those who are trafficked for sexual exploitation and the use of financial instruments to facilitate payment for this activity. Suspicious events, actors, or transactions are identified and provided to private sector and law enforcement partners for further scrutiny.

Payment Card Fraud

The Payment Card Fraud Initiative maintains two sub-initiatives in support of disrupting the theft of payment card data from ATMs and points-of-sale (POS): The Common Point-of-Purchase (CPP) Initiative enables financial institutions and law enforcement to identify, prioritize, validate, and mitigate breaches of card-present (CP) and card-not-present (CNP) locations that result in the theft of payment card data. The Skimming Initiative enables financial institutions and law enforcement to identify, validate, and disrupt transient criminal groups who use implanted technical devices (skimmers or shimmers) to steal payment card data from payment locations, including ATMs and points of sale.

Securities Fraud

The Securities Fraud Initiative supports the brokerage industry in identifying, validating, mitigating, and disrupting abuse of or intrusion into brokerage accounts and/or use of such accounts to fraudulently trade or manipulate securities (e.g., “pump-and-dump”). These activities are often furthered by the use of malware, phishing, or social engineering.

Synthetic Identity Fraud

The Synthetic Identity Fraud Initiative enables the sharing of synthetic identity intelligence among industry and law enforcement and to proactively disrupt the use of synthetic or artificial identities for fraud, such as securing and “busting out” lines of credit, and money laundering.

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