Federal Reserve Bank of San Francisco
Call the Fed

Organized Cyber Crime and Bank Account Takeovers

March 14, 2013

Account takeover fraud remains a tough challenge for financial institutions. Armed with new tools and techniques, cyber-criminals continue to evolve their attacks against financial institutions’ customers and employees. Today’s cyber-criminals are business savvy. They’re building businesses based on the development, management, and sale of botnets. These criminal groups have programmers who write the malicious software, salespeople who sell the code or lease out botnet services, and, in some instances, dedicated support personnel. These criminals are working to make botnets easier to deploy and more difficult to detect.

This session will provide valuable information that will help you protect your institution and customers from this evolving threat. Please join us for a unique opportunity to get the perspective of account takeover fraud from a banker, a criminal investigator and a regulator. Panelists are:

  • Fred Bailard, Executive Vice President and Manager of Cash Management Solutions at Presidio Bank. Over the past few years he has focused attention on security issues facing banks.
  • Brian Busony, Assistant to the Special Agent in Charge, U.S. Secret Service. Currently he supervises the Electronic Crimes Task Force.
  • Gene Lilienthal, Senior Examiner, Federal Reserve Bank of San Francisco. In recent years he has focused on IT risk as part of the Bank’s Operational Risk group.

Download presentation materials:

Organized Cyber Crime and Bank Account Takeovers (pdf, 3.4 mb)

The United States Secret Service (pptx, 10.2 mb)

This webinar is part of the Federal Reserve Bank of San Francisco’s Outreach Program on topics of interest and importance to financial institutions in the 12th Federal Reserve District. Please encourage your colleagues at your institution to attend. Note that there is no charge for this webinar.