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Friday, December 8th, 2023

Secret Service forms Cyber Fraud Task Forces

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Secret Service officials said the agency is merging its Electronic Crimes Task Forces (ECTFs) and Financial Crimes Task Forces (FCTFs) to form the Cyber Fraud Task Forces (CFTFs).

The action stems from the recognition of the convergence of cyber and traditional financial crimes.

“The creation of the new Cyber Fraud Task Force (CFTF) will offer a specialized cadre of agents and analysts, trained in the latest analytical techniques and equipped with the most cutting-edge technologies,” Michael D’Ambrosio, Secret Service assistant director, said. “Together with our partners, the CFTFs stand ready to combat the full range of cyber-enabled financial crimes. As the nation continues to grapple with the wave of cybercrime associated with the COVID-19 pandemic, the CFTFs will lead the effort to hold accountable all those who seek to exploit this perilous moment for their own illicit gain.”

The Secret Service said the agency has disrupted hundreds of online COVID-19 related scams, investigated several cyber fraud cases, halted the illicit sales of online stolen COVID-19 test kits, prevented tens of millions of dollars in fraud from occurring, and is leading a broad effort to investigate and counter transnational unemployment fraud schemes targeting state unemployment programs.

The Secret Service has 42 domestic CFTF locations with two international locations – London and Rome.