Relating to the operations of the Financial Crimes Intelligence Center.

Contracts

• Data Sharing Agreements: If your organization intends to share proprietary fraud data with the FCIC, review agreements immediately. Under Sec. 426.053(c), shared data becomes the "intellectual property of the center." You must carve out protections for customer PII before transmission.
• Grant Agreements: Entities applying for fraud deterrence grants (Sec. 426.102) must prepare for strict state contracting requirements regarding equipment procurement and audit rights.
• Vendor Service Level Agreements (SLAs): Update contracts with security vendors to require monitoring of and patching against threats identified in FCIC intelligence alerts.

Hiring/Training

• Fraud Team Retraining: Front-line staff (tellers, store managers) and security personnel must be retrained on the expanded statutory definition of "Payment Fraud." They must know how to preserve evidence for check and wire fraud, not just physical skimmers.
• Liaison Designation: You must appoint a specific Compliance or Security Officer to serve as the intake point for FCIC intelligence alerts to ensure they are not lost in general inboxes.

Reporting & Record-Keeping

• Incident Response Plans (IRP): Update your IRPs. Current protocols likely route skimmer data to TDLR/FCIC; you must now integrate workflows to report check fraud and unauthorized wire transfers to the FCIC.
• Grant Auditing: If state funds are used for security upgrades, maintain a segregated ledger for these expenditures to survive a TDLR audit.

Fees & Costs

• No New State Fees: The bill does not impose new licensing fees.
• Operational Costs: Expect minor administrative costs associated with updating reporting software and personnel training.
• Funding Opportunity: The bill authorizes grants to local law enforcement and "other partners" (potentially businesses) for fraud deterrence, contingent on legislative appropriation.