4169 Results from /regulation
David Divitt Senior Fraud Product Manager at VocaLink
Anyone who has worked in a bank, or has spent any length of time working with them, knows that technology silos are all too commonplace. Many banks have one system to process debit card payments, another for credit, a third for online banking, and the list goes on. The same applies for fraud prevention and detection, where many banks aren't yet ta...
27 October 2010 /regulation /sibos
Retired Member
I might not be physically at Sibos, but with social media and the power of the web it doesn’t mean one can’t keep up with the debate, albeit virtually. As I scan through the video recordings on various websites the one that stands out the most for me is Stephen Hester’s (Group CEO, Royal Bank of Scotland) one-on-one interview with Martin Wolf and...
26 October 2010 /regulation /sibos Innovation in Financial Services
According to Kroll – the US-based risk consultancy company, information theft has overtaken physical larceny of cash and stock as the biggest source of global losses for firms. Significantly, this is the first time this has happened – should we be concerned? Figures from the company’s 2010 Global Fraud report indicate that firms reporting incidents...
25 October 2010 /security /regulation
Robert Siciliano Security Analyst at Safr.me
You may have seen this before, it goes like this: a pop-up pops and it looks like a window on your PC. Next thing a scan begins. It often grabs a screenshot of your “My Computer” window mimicking your PCs characteristics then tricking you into clicking on links. The scan tells you that a virus has infected your PC. And for $49.95 you can download ...
19 October 2010 /security /regulation
It’s another week – and there are more people who should know better who have now got egg all over their faces! This time round, it’s the flaws in a financial management tool designed to track and monitor customer spending habits that has left bosses at Mint.com needing to placate a growing number of their online users. Mint.com’s problems with ema...
18 October 2010 /security /regulation
On the surface at least, it’s hard to take away positives in the wake of the financial crisis. Yes, it taught us that we have to manage risk better, improve processes and become more transparent. But it’s the regulators globally that seem to have taken these lessons closely to heart. With some banks still struggling to conform to Basel II requirem...
18 October 2010 /regulation
Typosquatting, which is also known as URL hijacking, is a form of cybersquatting that targets Internet users who accidentally type a website address into their web browser incorrectly. When users make a typographical error while entering the website address, they may be led to an alternative website owned by a cybersquatter or criminal hacker. Typ...
12 October 2010 /security /regulation
Check fraud is a billion dollar problem. Check fraud victims include banks, businesses and consumers. Our current system for cashing checks is somewhat flawed. Checks can be cashed and merchandise can be purchased even when there is no money in the checking account. There are 5 main forms of check fraud to watch out for: Forged signatures are the ...
US tax authorities released Notice 2010-60 in August and there have been several events and seminars since then trying to make sense of it all. 2010-60 is a set of guidance on how the industry needs to respond to the US HIRE Act Title V - also known as FATCA. Following on the heals of cases like UBS, the US wants all foreign financial institutio...
11 October 2010 /regulation Innovation in Financial Services
Angus Stewart CEO at www.e-solutions.uk.com
Jerome Kerviel is a name that will linger long in the mind of banking and fraud professionals around the world, making the exploits of Nick Leeson and Robert Maxwell look distinctly amateur! His conviction in a Paris courtroom - for single-handedly bringing France's second largest bank to its knees through a series of Machiavellian insider frauds
11 October 2010 /security /regulation
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