“Fraud and scams are an enormous threat to Americans and the financial system. On behalf of America’s leading retail banks, CBA has long called on policymakers to address the issue through a whole-of-government strategy that works across industries to protect consumers and their hard-earned money.
“We applaud President Trump for taking decisive action today, which will enhance interagency coordination, pursue the criminal networks behind these attacks, and prioritize prosecution of cyber-enabled fraud.
“CBA looks forward to working with the Administration and Congress to build on this momentum…
Cyber fraud uses technology as the primary weapon. It is highly scalable and can be conducted from anywhere in the world.
- Phishing/Smishing/Vishing: Using deceptive emails (phishing), text messages (smishing), or phone calls (vishing) to trick victims into clicking malicious links or revealing sensitive data.
- Business Email Compromise (BEC): A high-value scam where a criminal impersonates a CEO or high-level executive via a “spoofed” email address to trick a staff member into making an urgent, unauthorized wire transfer.
Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released a new statement after President Donald J. Trump signed an Executive Order (EO) to combat cybercrime, fraud, and predatory schemes targeting American families, businesses, and critical infrastructure.
“Fraud and scams are an enormous threat to Americans and the financial system. On behalf of America’s leading retail banks, CBA has long called on policymakers to address the issue through a whole-of-government strategy that works across industries to protect consumers and their hard-earned money.
“We applaud President Trump for taking decisive action today, which will enhance interagency coordination, pursue the criminal networks behind these attacks, and prioritize prosecution of cyber-enabled fraud.
“CBA looks forward to working with the Administration and Congress to build on this momentum…
Check your “Sent” folder in your email periodically to ensure there are no messages you didn’t send, which is a common sign that your email account has been compromised.