Google and FS-ISAC Launch Programme to Combat Financial Fraud
This streamlines the process of identifying, reporting, and mitigating these threats, allowing Google to investigate and remove abusive accounts more efficiently.
FS-ISAC, a member-driven nonprofit focused on advancing cybersecurity in the global financial system, will manage a dedicated channel for its members to report fraud and malicious activity involving Google platforms, such as Google Workspace and Google Ads.
The programme streamlines the process of identifying, reporting, and mitigating these threats, allowing Google to investigate and remove abusive accounts more efficiently.
The pilot phase was launched with a select group of FS-ISAC member institutions.
During this initial rollout, FS-ISAC flagged 21 suspicious accounts, which led to Google taking action on 288 abusive accounts within ten days.
The initiative is now being extended to all FS-ISAC member institutions, providing access to streamlined reporting tools, resources, and direct support from both organisations.
The effort is part of Google’s involvement in FS-ISAC’s Critical Providers Programme, which fosters collaboration between technology providers and the financial sector on cybersecurity and fraud mitigation.
Amanda Storey
“Fraud is an issue that crosses borders and sectors, and it requires sustained collaboration over time.
This new initiative builds on years of collaboration and is the kind of concrete cross-sector effort that meaningfully helps financial institutions protect their customers and employees.”
said Amanda Storey, Senior Director, Trust & Safety, Google.
Teresa Walsh
“The growth of fraud is one of the top concerns of our members today.
This collaboration with Google is another significant step forward in our cross-sector fraud prevention efforts, as it accelerates the speed with which FS-ISAC members can identify and mitigate evolving fraud threats, increasing the security of institutions and the communities they serve.”
said Teresa Walsh, FS-ISAC’s Chief Intelligence Officer and Managing Director, EMEA.
Featured image: Edited by Fintech News Singapore, based on image by user6724086 via Freepik
