Just over one year ago, James H. Freis, Jr. was appointed Director of the Financial Crimes Enforcement Network (FinCEN), the U.S. regulatory body charged with battling the crime of money laundering. In this role, he leads FinCEN's efforts to administrate the Bank Secrecy Act (BSA), cracking down on both money...
From Second Life to former NY Gov. Eliot Spitzer, anti-money laundering has dominated the news in 2008. To gain new insights in the latest trends, threats and solutions, we interviewed veteran AML investigator Kevin Sullivan on:
What's new in BSA compliance;
How AML has evolved over the past decade;
What's most...
Ken Rijock is a former banking attorney at an international law firm. He's also a former money launderer.
He spent the 1980s as a money launderer and advisor to drug traffickers, until he was arrested and served a U.S. federal prison sentence for racketeering and money laundering. While serving his sentence, he...
Annual Security Event Offers Plenty to Financial Institutions
Risk management and the insider threat.
These are the two dominant themes emerging from the conversations and presentations at the RSA Conference in San Francisco.
From the keynote stage to the expo floor, with stops in between at the program...
Risk management and the insider threat.
These are the two dominant themes emerging from the conversations and presentations at the RSA Conference in San Francisco this week.
From the keynote stage to the expo floor, with stops in between at the program sessions, information security experts, vendors and...
When Michael Barrett, CISO of PayPal, joined the company two years ago, he asked how senior leaders were fighting the phishing problem.
"Technically, we don't have a phishing problem," he was told.
Yes, scores of PayPal customers were inundated daily with fake emails attempting to lure them to fake websites,...
Imagine living in a country where electronic voting is universal, there are 39 million Internet users, and 25 million of them are also Internet banking users.
Welcome to Brazil, whose online banking services and lessons-learned were presented to attendees at the RSA Conference on Tuesday.
According to Maria...
Bank of America is well known for its mobile banking services. Currently, the institution has 750,000 mobile banking customers receiving services on 400 different kinds of devices.
But did you realize that one of the ways BoA secures its electronic offerings is by providing its customers with abuse reporting...
Interview with AML Investigator Kevin Sullivan
From Second Life to former NY Gov. Eliot Spitzer, anti-money laundering has dominated the news in 2008. To gain new insights in the latest trends, threats and solutions, we interviewed veteran AML investigator Kevin Sullivan on:
What's new in BSA compliance;
How...
Imagine living in a country where electronic voting is universal, there are 39 million Internet users, and 25 million of them are also Internet banking users.
Welcome to Brazil, whose online banking services and lessons-learned were presented to attendees at the RSA Conference on Tuesday.
According to Maria...
Interviews Shed Light on Topics of Unique Interest to Banking/Security Executives
The annual RSA Conference is a showplace for the who's who of security solutions vendors. The event showroom is lined with scores of the industry's leading vendors - no one individual could hope to see them all.
So, the Information...
In stepping up the fight against cyber crime, Michael Chertoff, Secretary of the US Department of Homeland Security (DHS), has a simple request: Send some of your best & brightest employees to help the government's efforts.
"We want your ideas, insights and I daresay your employees," Chertoff told the crowd in a...
The price tag for The TJX Companies, Inc.(NYSE: TJX) to settle with MasterCard and its card-issuing banks is $24 million. This settlement, announced this week, comes on the heels of the TJX settlement with the Federal Trade Commission in late March.
While many in the industry see the FTC's settlement (no fines, but...
The recent breach of a Maine-based grocery chain may just be the beginning of a novel and sophisticated attack method. Earlier this week, the Okemo Mountain Resort, a ski resort in Vermont, announced that it had been hacked in a similar manner.
News of the Hannaford Brothers breach broke on March 17, and...
The online virtual world is a 3D computer-based online role playing game and/or environment. The game takes place online and can have thousands of people playing simultaneously with borderless restrictions and little regulation. It is more formally described as a computer-based simulated environment. This type of...
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