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2017 Press Releases
Florida and Arkansas Begin Using Uniform Mortgage Test; 54 State Agencies Now Using the Test
State Regulators Oppose OCC Special Charter For Non-Banks
State Financial Regulators Release BSA/AML Compliance Tool for Industry
CSBS Board Appoints Wyoming’s Albert Forkner as Chairman-Elect
State Regulators Promote “Fintech Friendly” Features of National Registry
College Students Participate in Nationwide Community Bank Competition
Statement on the Illinois Fintech Regulatory Roundtables
CSBS Urges Congress to Weigh in Against OCC Non-Bank Charter
State Regulators Highlight EGRPRA Priorities for Financial Regulatory Relief
Gonzales, Hughes and Jones Re-Appointed to FFIEC State Liaison Committee
State Regulators Announce Changes to Money Services Businesses Reporting
State Regulators Issue Cease-and-Desist Orders to Subsidiaries of Ocwen Financial Corp.
CSBS Files Complaint Against Comptroller of the Currency
Gonzales Elected as State Liaison Committee Chairman
Stork Appointed to FFIEC State Liaison Committee
CSBS Announces Vision 2020 for Fintech and Non-Bank Regulation
CSBS Statement on New York Department of Financial Services Lawsuit Against OCC
CSBS Announces Five Finalist Teams in the 2017 Bank Case Study Competition
CSBS Announces New Leadership
The University of Akron Wins First Place in CSBS Community Bank Competition
Fed Chair Yellen Will Open 2017 Fed/CSBS Community Banking Research Conference;
FFIEC Proposes Additional Revisions to Streamline “Call Report” for Small Institutions
State Regulators Call for an End to One-Size-Fits-All Bank Regulation
State Regulators and U.S. Secret Service Issue Industry Best Practices for Combating Cyber Crime
Louisiana Regulator to Guide Nationwide Licensing and Supervision System for Fintechs and Other Non-Banks
State Regulators Issue Annual Reports on Non-Bank Supervision
CSBS Launches Fintech Advisory Panel to Help Modernize State Regulation
CSBS to OCC: Fintech Charter Lacks Legal Authority
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 6/28/2017 

Media Release

Conference of State Bank Supervisors
        1129 20th Street, NW, 9th Floor, Washington, DC, 20036

 State Regulators and U.S. Secret Service Issue Industry Best Practices for Combating Cyber Crime  

Washington, D.C. – Today, state bank regulators, jointly with the U.S. Secret Service, released banker best practices for managing risks related to certain cyber threats. The best practices were developed by the Bankers Electronic Crimes Task Force, which includes bank CEOs and executive officers from banks across the U.S. In the industry best practices issued today, the bankers identified four cyber threats that warrant continued attention by banks. These include:

Large-Value Funds Transfers – unauthorized wire transfers (SWIFT-like thefts) of millions to billions in funds.
Ransomware – a form of extortion that uses malicious software to encrypt a device or data, and demand payment for access.
Distributed Denial-of-Service (DDoS) – an attempt to prevent users from accessing information or services, such as overloading the capacity of a bank’s website.
ATM Jackpotting/ Cash-Out – an illegitimate attempt to dispense cash from an ATM.

The release of these industry best practices is part of a larger effort among state bank regulators and federal authorities to combat cybercrime. In the past, state and federal authorities have hosted webinars, issued a cybersecurity assessment tool and held executive briefings to inform bank CEOs about the U.S. and global cyber threat landscape, as well as to equip the industry with the knowledge and tools for mitigating cyber risks.

The Bankers Electronic Crimes Task Force was modeled after the U.S. Secret Service’s Electronic Crimes Task Force but developed exclusively for the community banking industry. Texas and Massachusetts state banking departments, working with the Conference of State Bank Supervisors (CSBS) and 11 other banking departments, facilitated this initiative. However, the Bankers Electronic Crime Task Force, identified the threats and developed the best practices. Members of the Bankers Electronic Crimes Task Force include community banks that range from $90 million in total assets to $7.8 billion. 

Bankers Electronic Crimes Task Force:

  • Berkshire Bank, Pittsfield, MA   
  • PeoplesBank, Holyoke, MA   
  • Texas Bank & Trust, Longview, TX    
  • Lewis & Clark Bank, Oregon City, OR
  • Bank of Utah, Ogden, UT
  • Mainstreet Bank, Cook, NE   
  • First Northern Bank, Dixon, CA
  • Orrstown Bank, Shippensburg, PA     
  • Happy State Bank, Happy, TX
  • First Savings Bank, Clarksville, IN     
  • The Commercial and Savings Bank of Millersburg, OH  
  • RCB Bank, Claremore, OK    
  • Community Bancshares of Mississippi, Brandon, MS 
  • Bank of Oak Ridge, Oak Ridge, NC    
  • Farmers Bank & Trust Company, Magnolia, AR

More information on executive leadership of cybersecurity is available at www.csbs.org/cybersecurity.   

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