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Online EducationCompliance AllianceABA Banking Journal: Fed decision grants crypto firm payment account creates risks for consumersMarch 4, 2026
Kraken Financial has been granted a one-year, limited-purpose account that includes restrictions and limitations tailored to the company’s business model, the Federal Reserve Bank of Kansas City announced today. The Wyoming-based crypto firm is a Tier 3 entity under Fed guidelines, which means it is not federally insured and not subject to supervision by a federal banking agency. It is the first crypto firm to be granted an account.
The Kansas City Fed said the decision to grant an account is based on particular facts and circumstances of each applicant, including a risk-based assessment of the institution’s business model. As for what limitations were applied to Kraken’s account, the Kansas City Fed said it does not disclose specific information about account holders’ access to Fed financial services.
The Federal Reserve Board of Governors is currently seeking comment on whether to create “skinny” master accounts that would provide basic payment services to legally eligible institutions but would lack many of the features of actual master accounts. Kraken was not granted a skinny account.
In a statement, ABA SVP Brooke Ybarra said the Fed’s decision is another example of agencies taking significant action while the rules are still a work in progress, “creating risk for the financial system, consumers and the economy.”
“With so many related issues still unsettled, including final Genius Act rules and the development of a ‘skinny’ master account framework, we have serious questions about why regulators are granting access to the Fed payment system and charters before completing the public notice and comment process that will inform any official guidance,” Ybarra said. “This action puts the cart so far ahead, that the horse will never be able to catch up.”
Back to TopABA Banking Journal: House committee advances ABA-backed bill to overhaul bank regulationMarch 4, 2026
The House Financial Services Committee today advanced legislation to boost community banking by raising regulatory thresholds, revising agency supervisory practices, tailoring regulations further, encouraging de novo banks and strengthening community development financial institutions. The Main Street Capital Access Act (H.R. 6955) brings together multiple legislative proposals that were previously proposed by members of Congress. The committee approved the legislation by a 26-16 vote. The American Bankers Association submitted comments ahead of the hearing noting that the bill contained provisions that it has long supported, such as measures to spur new bank creation and promote transparency and fairness in supervision. Back to TopABA Banking Journal: ABA submits banker requests for 2026 Farm BillMarch 3, 2026
In a letter to the committee, ABA noted that banks remain one of the primary sources of credit for U.S. agricultural producers. “Banks play a critical role in rural communities, and this bill includes meaningful policy reforms that will enhance lenders’ ability to serve their customers in the years ahead, as producers face ongoing economic challenges, rising input costs and volatile markets,” the association said. Still, ABA recommended that lawmakers amend the bill to add several longstanding priorities in the agriculture lending space. They include:
ABA also said it was concerned by language stipulating that the Farm Credit Administration shall be the sole, independent regulator of Farm Credit Services. “This provision could create disparate compliance burdens among lenders in the market due to the uneven regulatory scrutiny of lenders by varying federal agencies,” ABA said. The committee is scheduled to begin markup on the bill today. Full ArticleBack to TopCISA News: OCCIP Flash Alert - Increased Claims and Rhetoric Related to Iranian-Aligned Cyber Threat Groups and Activities Targeting U.S. and Partner Critical Infrastructure
Since 28 February 2026, there has been a sharp drop in internet activity in Iran due to a near-total internet blackout, with connectivity at 1 percent of ordinary levels. As of 2 March 2026, metrics from internet monitor NetBlocks show that the internet blackout remains in effect. Reporting remains inconclusive as to whether the disruption is an Iranian government-imposed blackout or the result of cyberoperations, however, reporting notes that limited activity is ongoing. If this is a self-imposed blackout, this limited activity may be whitelisted traffic enabling Iranian cyber actors to conduct operations against targets of opportunity. Historically, the U.S. financial sector has been viewed as a priority target and a target of opportunity by Iranian-aligned cyber actors.1 Since 28 February 2026, activity on Telegram and other social media platforms indicates an increase in messaging from self-identified hacktivist collectives and state-aligned advanced persistent threat (APT) groups claiming responsibility for cyber operations targeting U.S. and Israeli institutions. While some posts assert direct involvement in cyber-attacks, others consist primarily of warnings, threats, or declarations of intent directed at U.S., Israeli, and other Middle Eastern government and private-sector entities. To date, no evidence exists to validate these claims. This behavior aligns with broader information warfare and psychological operations tactics, in which public claims, exaggerated impact statements, and threat narratives are used to create uncertainty, erode public confidence, and amplify geopolitical tensions irrespective of the underlying technical impact. [...] If you or your security teams notice anything out of the ordinary – please feel free to report it. https://myservices.cisa.gov/irf Back to TopCISA News: Why scammers say nothing when they call - and how to respond safelyMarch 2, 2026 | Lance Whitney
Yes, there is a method behind the madness. Just knowing that someone answered the call is validation that the phone is owned by a real person and that the number is active. That marks the intended victim and number as available for future scams.
'Automated reconnaissance'
"Calls where no one responds are rarely accidental," Shane Barney, chief information security officer at cybersecurity provider Keeper Security, told ZDNET. "In many cases, they are automated reconnaissance events. Fraud operations run at industrial scale, and before they invest human effort in a target, they validate that a number is active and answered by a real person." What do scammers then do with your number? "In modern fraud ecosystems, verified contact data has value," Barney said. "It is bought, sold, and reused. A silent call can serve as a filtering mechanism, separating dormant numbers from reachable individuals. It is less about the conversation and more about confirming that there is someone on the other end." In some cases, your confirmed number may lead to phishing calls or emails. In other instances, you might be the target of a more serious type of attack. "Once that validation occurs, it strengthens the attacker's ability to execute more convincing follow-on attacks," Barney said. "A confirmed number can be paired with a breached email address, used to trigger password reset flows, or targeted for SIM swap fraud." These types of scams are nothing new, though they were more prevalent years ago, Barney explained. They seemed to go out of style as email and SMS phishing attacks became more common. Seeing them resurface highlights an important aspect of cybercrime. Attackers will reuse tactics and techniques that work. What about calls in which the person responds after a short delay? That speaks to the automated operations run by spammers and scammers. "That pause is typically a function of predictive dialing infrastructure," Barney said. "These systems place high volumes of calls simultaneously and use algorithms to detect when a human answers. Once a voice is detected, the system routes the call to a live operator. The delay reflects the handoff process. From an operational standpoint, this model allows scammers to maximize efficiency while minimizing labor costs." Is voice cloning a threat?On the flip side, are you exposing yourself to any risks if you speak with the scammer, even just a few words? Voice cloning has always been a concern, especially with the advancements in AI. Could a scammer clone your voice and then use it to authorize purchases or run scams on your family and friends? "Voice cloning is a real and evolving threat, but it's important not to let it drift into science fiction," Barney said. "Producing a convincing replica of someone's voice typically requires a clear and sustained audio sample, not just a quick 'hello.' A brief exchange is unlikely to give an attacker everything they need."
Rather, risk comes into play when a cloned voice is used as part of a broader scam, Barney explained. If a scammer already has some of your personal details from public sources or data breaches, that cloned voice can add some credibility to the scam. That's why you want to limit what you say to a scammer.
What to do next
With all this in mind, how should you handle these types of calls? Here are three tips.
Hang up. If it's an unknown number and no one responds to your greeting, just hang up. The only downside here is that some calls with that initial silence may be legitimate, perhaps from an office, business, or known company. In that case, they will call back and can let the call go to voicemail. If it's important, the person will leave a message.
Don't respond, but stay on the line. Another strategy is to pick up a call from an unknown or suspicious number, but don't say hello or anything else. If you hear nothing but silence, then just wait to see if the call disconnects. If the spammer or scammer doesn't detect a voice on the other end, they may then consider your number inactive and remove it from their call list. Use spam call filtering. iPhones and Android phones do have built-in ways to block and identify spam calls. But a spam filtering app or service provides more granular control. In the US, the three major carriers -- Verizon, AT&T, and T-Mobile -- offer their own tools for dealing with spam calls. You'll also find a variety of third-party spam filtering apps. Some apps to consider are RoboKiller, Truecaller, and Hiya. But will these call filtering apps block you from all spammers and scammers? The reality of call filtering"Call filtering applications can significantly reduce the volume of nuisance calls, particularly those tied to large-scale spam campaigns," Barney said. "They are especially good at identifying numbers that have already been reported and flagged by others, however, they are not perfect. Fraud infrastructure changes quickly, and new numbers appear constantly. A highly targeted call can still get through. These tools are helpful in managing volume, but they are not a substitute for sound security practices." To do their job, these apps also collect certain data from you, most notably your contact lists. Such information reveals who you speak with and how often. That's why you should review the security and privacy permissions of each app to learn what data is collected and how it's handled. "There is a tradeoff," Barney said. "Reducing spam exposure has clear benefits, but any application with deep visibility into your communications should be chosen deliberately. Filtering tools can reduce noise. Protecting accounts with strong authentication and unique credentials is what limits real damage if something slips through." Back to Top
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The American Bankers Association today presented a list of banker priorities to be included in the 2026 Farm Bill ahead of a House Agriculture Committee markup of the legislation.
Ongoing claims and calls for cyber-attacks targeting U.S. entities by Iranian aligned groups could lead to an increase in malicious activity against the financial services sector. Since 28 February 2026, there has been an increase in public messaging by Iranian-aligned cyber actors about targeting U.S. critical infrastructure, to include the financial sector, in retaliation for recent U.S.-Israeli military action against Iran. As of 2 March 2026, no significant cyberattacks against U.S. critical infrastructure organizations have been observed.
Have you ever answered a call from an unknown number only to be greeted with silence? Sometimes, no one responds at all. Other times, there's a short delay before someone finally greets you. You may think the person on the other end is just confused or distracted, or possibly got the wrong number. But that's not the case, at least not with a scam call.
