FINRA launches threat-sharing portal for cyber and fraud intelligence

FINRA has launched a new intelligence-sharing portal designed to help broker-dealers swap timely information on cybersecurity and fraud threats and coordinate responses, as scams and account intrusions continue to pressure firms and investors.

The platform, called the Financial Intelligence Fusion Center, is a secure portal that allows FINRA and its member firms to share threat intelligence, including indicators tied to cyber incidents and fraud schemes. FINRA said the center will collect, analyze and disseminate intelligence to help firms spot threats sooner and respond faster.

The launch comes as losses tied to online crime continue to rise. The FBI’s most recent Internet Crime Report published last year pegged 2024 cyber-incident losses at $16.6 billion, with an average loss of $19.3 thousand per scam and a 33% increase in losses from 2023 to 2024.

The move is a signal that regulators and market plumbing providers are leaning harder into faster information sharing – especially for attacks that spread across firms, such as credential phishing, vendor compromises and copycat fraud campaigns.

FINRA said it began piloting the portal in 2025 with a “diverse group” of member firms and used their feedback to refine how the system works for firms “of all sizes.” During the pilot, FINRA said participating firms accessed threat-intelligence products and also shared their own observations about cybersecurity and fraud threats through the portal to support faster mitigation.

The fusion center also taps FINRA’s existing partnerships, with the organization saying the portal can incorporate input from government and private-sector partners. FINRA positioned the platform as part of FINRA Forward, its broader program aimed at improving operational effectiveness and efficiency.

In its announcement on Tuesday, FINRA encouraged member firms to opt into the portal to access centralized intelligence sharing between firms and the regulator. The organization framed the initiative as an extension of existing cybersecurity support, including guidance on building cyber programs, addressing vulnerabilities and identifying emerging scams.

Greg Ruppert, executive vice president and chief regulatory operations officer at FINRA, said the Financial Intelligence Fusion Center will be “a powerhouse that facilitates timely intelligence sharing to benefit member firms, their customers and the securities industry.”

The launch aligns with FINRA’s recent messaging that cyber risk is no longer limited to one-off IT events. In its annual regulatory oversight report late last year, FINRA warned of a growing set of threats and schemes besetting the industry, including ransomware and extortion incidents, data breaches involving personally identifiable information, phishing, and text‑based “smishing” campaigns.

“Cybersecurity incidents may expose firms to loss of customer information, financial losses, reputational risks and operational failures,” FINRA warned in its report: “The failure to have a well-designed cybersecurity program could result in compliance shortfalls.”