Cybercrime has turned the financial sector into a top target. The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has issued an advisory asking financial institutions to release details on cyberattacks to build better security strategies against terrorism financing and cyber-related crimes.
The advisory aids financial institutions in understanding their obligations under the Bank Secrecy Act (BSA) regarding cybercrime and illicit activity. It addresses institutions such as casinos, depository institutions, insurance industry, money services businesses, mortgage co/broker, precious metals/jewelry industry, securities and futures.
