ABOUT THE TEXAS BANKERS ELECTRONIC CRIMES TASK FORCE
The Texas Bankers Electronic Crimes Task Force (Task Force) was formed in April 2010 by the Texas Banking Commissioner, Charles G. Cooper, in cooperation with the United States Secret Service to develop recommended practices to mitigate the risks of electronic crimes such as Corporate Account Takeover.
The Task Force consists of senior officers with technology oversight from a diverse group of banks in terms of size, complexity, and market environment; and representatives from Texas Bankers Association, Independent Bankers Association of Texas, and SWACHA. The Department of Banking’s Chief Information Technology Security Examiner serves as a liaison member.
The initial focus of the Task Force was on the growing risk of Corporate Account Takeovers. Many of the task force member banks have had customers whose computer systems were compromised and suffered from corporate account takeover. They drew on that experience, and the experience of the United States Secret Service (North Texas District Office) to develop a set of processes and controls for a strong risk management program. The Task Force also contacted IT Security and Audit firms that operate in Texas, who provided additional valuable recommendations.
The Task Force supplemented the set of processes and controls with a list of best practices to assist financial institutions with identification of risks and the development of meaningful risk management measures. Since the Task Force included both small and large bank representatives, the recommendations are broad enough to accommodate the unique needs of every bank and its customers utilizing online banking services.