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Committee approves expanding Financial Crimes Intelligence Center's statutory mission to cover payment fraud
Summary
The committee voted to report SB 1499, which would formally expand the Texas Financial Crimes Intelligence Center's (FCIC) statutory mission to include payment fraud beyond skimming; banks, retail and law enforcement testified in support.
Senator Nichols presented SB 1499 to the committee as a clarification and expansion of the Financial Crimes Intelligence Center’s statutory mission to include payment fraud more broadly than the original skimmer-focused enabling language.
The bill would align the center’s enabling statute with work the FCIC has already undertaken since its 2021 creation: investigations into ATM and pump skimming, check and card fraud, unauthorized electronic transfers and other…
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