The US Secret Service has announced that it plans to create a new task force to tackle financial crimes and cyber fraud. This move shows that the government recognizes the growing convergence of classic financial crimes and financial crimes that are sophisticated with a cyber element. The announcement consists of merging the Electronic Crimes Task Forces (ECTF) and Financial Crimes Task Forces (FCTF).
This merger will be known as the Cyber Fraud Task Forces (CFTF), which aims to prevent cyber-enabled financial crimes as well as arrest and convict harmful perpetrators. The announcement was made on July 9, and the Secret Service stated that CFTF will resume the functions of the other two task forces in their work. CFTF, according to the Service, will offer a specialized group of agents and analysts that are highly trained and have access to cutting edge technologies.
