Cybercriminals target the financial system to defraud financial institutions and their customers and to further other illegal activities.  Financial institutions can play an important role in protecting the U.S. financial system from these threats.

The proliferation of cyber-events and cyber-enabled crime represents a significant threat to consumers and the U.S. financial system.  The Financial Crimes Enforcement Network (FinCEN) issues this advisory to assist financial institutions in understanding their Bank Secrecy Act (BSA) obligations regarding cyber-events and cyber-enabled crime.  This advisory also highlights how BSA reporting helps U.S. authorities combat cyber-events and cyber-enabled crime. Through this advisory FinCEN advises financial institutions on:

1. Reporting cyber-enabled crime and cyber-events through Suspicious Activity Reports (SARs);
2. Including relevant and available cyber-related information - e.g., Internet Protocol (IP) addresses with timestamps, virtual-wallet information, device identifiers) in SARs;
3. Collaborating between BSA/AML units and in-house cybersecurity units to identify suspicious activity; and
4. Sharing information, including cyber-related information, among financial institutions to guard against and report money laundering, terrorism financing, and cyber-enabled crime.