The Secret Service is combining its Electronic Crimes Task Forces (ECTFs) and Financial Crimes Task Forces (FCTFs) into one unified network, the agency announced Thursday.
The new merged network of task forces, to be known as Cyber Fraud Task Forces (CFTFs), will detect, prevent and root out cyber-enabled financial crimes, such as business email compromise and ransomware scams, “with the ultimate goal of arresting and convicting the most harmful perpetrators,” the Secret Service said in a press release.
The agency hopes the reorganization integrates the resources and know-how in the previous task forces.
“Through the creation of the CFTFs, the Secret Service aims to improve the coordination, sharing of expertise and resources, and dissemination of best practices for all its core investigations of financially-motivated cybercrime,” the Secret Service said.
The decision to merge task forces comes months after the Secret Service launched an effort to modernize its investigations into financially motivated cybercriminal activity, as CyberScoop first reported.
In the past, the Secret Service required agents to obtain approvals to pursue cybercrime investigations, which required additional training beyond financial crime investigations. The move comes as a recognition that cybercrime and financial crime are inextricably linked.
“In today’s environment, no longer can investigators effectively pursue a financial or cybercrime investigation without understanding both the financial and internet sectors, as well as the technologies and institutions that power each industry,” the Secret Service said. “Nearly all Secret Service investigat ..
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