Anti-money laundering expert Kevin Sullivan says that U.S. banking institutions should not take Osama bin Laden's death as a sign that they can let their AML and BSA screenings become more lax. "We have not defeated terrorism yet."
The Heartland hacker says the U.S. government was aware of his illegal activities, and an ID security expert talks about phishing threats in the wake of the Epsilon breach.
The Heartland hacker says the U.S. government was aware of his illegal activities, and an ID security expert talks about phishing threats in the wake of the Epsilon breach.
EastNets' Paul Buelens says fraud-fighting is an international concern, as old schemes abound and new threats emerge. Fraud risks are some of the most challenging banks have ever faced.
"The trend here is the level of fines that the regulators are putting out there," says Tony Wicks, AML and fraud-detection expert. "$7 million does not sound that great, but for the size of an institution like Pacific National, it is substantial."
At a time when some larger banking institutions are being fined for inadequate anti-money laundering measures, security manager Wendy Chapman says she's taking suspicious activity reporting seriously -- and the efforts are paying off.
AML concerns heat up, as FinCEN warns U.S. institutions to scrutinize accounts held by foreign political figures. And the unofficial release of an FFIEC draft about online authentication guidance opens regulators to more feedback and criticism.
AML concerns heat up, as FinCEN warns U.S. institutions to scrutinize accounts held by foreign political figures. And the unofficial release of an FFIEC draft about online authentication guidance opens regulators to more feedback and criticism.
Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank.
Visa says a move toward EMV can help merchants cut PCI compliance costs, and SWIFT says globalization, regulation and the introduction of new services from non-financial providers will set the tone for payments 2011.
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