Litigation » CFTC Creates Cyber-Police Arm

CFTC Creates Cyber-Police Arm


July 26, 2023

Commodity Futures Trading Commission registrants should get ready for a heightened focus on cybersecurity and environmental fraud, particularly in the derivatives and relevant spot markets. On July 3, the CFTC’s Division of Enforcement Director announced that two task forces have been formed: Cybersecurity and Emerging Technologies; the Environmental Fraud Task Force. Both will be staffed with attorneys and investigators who will serve as subject matter experts and prosecute cases. According to a release, staff investigators will check to ensure that registrants have adequate cybersecurity controls, including controls surrounding customer information and system safeguards. The Cybersecurity and Emerging Technologies task force will probe the role that emerging technologies including AI and machine learning may play in violations of the Commodity Exchange Act and CFTC regulations.

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