Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
IBM has released its latest X Force Internet Security and Trends report. See here : http://www-935.ibm.com/services/us/iss/xforce/trendreports/xforce-2008-annual-report.pdf These kind of reports have attained added significance in the downturn. Surely, there are now more willing victims and potential criminals. For the past month, I have been get...
11 February 2009 /security /regulation
Amongst all the snowfall and avalanche of layoffs and closures, I found a real intriguing nugget of a news item. The Executive Director of UNODC claims in an interview that some banks have been 'kept afloat' by drug money flowing into the financial system. See this news link here - http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&...
03 February 2009 /security /regulation
The World Economic Forum has released its annual take on Risks our world carries in the new year. The Global Risks Report 2009 is a compulsive read in these turbulent times and not just for Risk professionals. You can download the report from: http://www.weforum.org/en/initiatives/globalrisk/index.htm The report suggests that the world may face ris...
14 January 2009 /regulation
Well, with so many billions washed out in 2008, it looks like banks don't think a billion is too much! See this hilarious news item - http://news.bbc.co.uk/1/hi/scotland/glasgow_and_west/7804876.stm With the banks getting it between their eyes, one can understand their being cross eyed. Not sure if banks are thinking of creative solutions to recove...
31 December 2008
The burgeoning financial crisis is throwing up some unique offerings to consumers. Consumers now have more options - both for products and methods of purchase. This festive season, if you don't relish using your credit card and walking away with the goods immediately, you can get back to good old 'thrift' - where you squirrel up your savings and pa...
08 December 2008 /payments
Whew! 52,000 jobs at Citi are going to be axed. This must be a new record on job cuts by a running firm. Citi's communique in their town hall yesterday makes an interesting read. See http://www.citigroup.com/citi/fin/data/p081117a.pdf Clearly, with institutions jostling each other on job cuts, we are in for a long recession just by creating one!...
18 November 2008
As the Central banks across the world are pumping money into banks and the rest of the economic world watches the bailout, it is no wonder that every entity now wants to be a bank. And why not, you let your investment banking division run amuck, dish out lofty bonuses, engage in leveraged buyouts and deals with gay abandon; when things sour up, ju...
03 November 2008 /regulation
I found this news release by the FBI quite amusing - http://www.fbi.gov/page2/oct08/threatletters_102308.html It seems 'a series of threatening letters filled with an unknown powder started showing up at financial institutions across America'. Looks like a bunch of pranksters were frightening the already scared banks! The credit crisis has turned ...
27 October 2008 /security /regulation
The move towards Internet telephony seems to suggest a new line of security issues. Given the extensive use of Skype and other internet telephony tools, due to their inherent economical costs, it is but natural to ponder on how vulnerable are these channels. Wire tapping or eavesdropping into conversations has always been a human and government fa...
16 October 2008 /security /regulation
There is a lot of humor now doing the rounds on the credit crisis. Obviously the joke is on us! I got the below mentioned 'request' in my inbox. If only the US Treasury gets so creative as the Nigerian scams! It's amazing how many bankers still fall for the notorious 419 scam-emails. Quite a howl - I don't know who is the writer deserving the credi...
23 September 2008
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