MOUNTAIN VIEW, Calif.—The Financial Services Information Sharing and Analysis Center (FS-ISAC) is partnering with Google in a new initiative that merges Google’s threat detection expertise with FS-ISAC’s intelligence-sharing network to combat fraud in the financial sector, FS-ISAC said.
The new joint effort will combine Google’s advanced threat detection capabilities with FS-ISAC’s extensive network and intelligence sharing capabilities.
Google’s Priority Flagger Program streamlines the process of identifying, reporting, and mitigating fraud threats related to Google platforms. As part of this financial services-specific initiative, FS-ISAC will operate a dedicated channel for its members to report fraud and other malicious activity leveraging Google Workspace or Google Ads, FS-ISAC said.
Priority flagging, in the context of content reporting on Google platforms, refers to a system where certain users or organizations are given preferential treatment for their flagged content. These users, often government agencies or NGOs, have their reported content reviewed more quickly and thoroughly due to their established expertise and reliability.
"The growth of fraud is one of the top concerns of our members today," said Teresa Walsh, FS-ISAC’s chief intelligence officer and managing director, EMEA. "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."
The program was initially launched with a pilot group of FS-ISAC member institutions. During the first 10 days of the pilot, FS-ISAC flagged 21 bad accounts on behalf of its members, which enabled Google to identify and take action on 288 abusive accounts. The program will now expand to include all FS-ISAC member firms, providing them with access to reporting mechanisms, resources, and direct support from both Google and FS-ISAC experts, FS-ISAC said.
The program is part of Google’s participation in FS-ISAC’s Critical Providers Program, which ensures collaboration and ongoing dialogue between the financial sector and Google.