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Anti-Money Laundering Contacts at Financial Institutions Hit with Targeted Phishing Attack

To illustrate just how creative phishing campaigns have become, on January 30, 2019, it was reported by multiple credit unions that Bank Secrecy Act officers at credit unions around the country received emails that appeared to be from Bank Secrecy Officers at other credit unions. The emails were addressed to the actual Bank Secrecy Officers of the credit union (the Patriot Act requires each credit union to designate two such officers) and stated that a suspicious transfer from one of its customers was on hold for suspected money laundering. The email included an attached pdf which provided detailed information about the suspicious transaction, and urged the Officer to open the pdf.

When the pdf was opened, it contained a link to a malicious site.

It was later reported that not only credit unions were attacked, but also other financial institutions, and the Financial Crimes Enforcement Network of the U.S. Treasury Department was urging financial institutions to be wary of them and delete them.

Copyright © 2019 Robinson & Cole LLP. All rights reserved.

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About this Author

Linn F. Freedman, Robinson Cole Law Firm, Cybersecurity and Litigation Law Attorney, Providence
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Linn Freedman practices in data privacy and security law, cybersecurity, and complex litigation. She provides guidance on data privacy and cybersecurity compliance to a full range of public and private clients across all industries, such as construction, education, health care, insurance, manufacturing, real estate, utilities and critical infrastructure, marine, and charitable organizations. Linn is a member of the firm's Business Litigation Group and chairs its Data Privacy + Cybersecurity Team. She is also a member of the Financial Services Cyber-Compliance Team (CyFi ...

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