Reducing False Positives without Increasing Regulatory Risk–Reducing the instances of False Positives when screening client data against risk registers can make an enormous difference to the amount of time and effort that is required for manual intervention, typically cutting costs by as much as 70%. Simon Pearson, Director of Sanctions & PEP Screening at Datanomic, explains how.
False positives are the scourge of the Money Laundering Reporting Officer (MLRO) responsible for protecting the reputation and security of a financial institution. Every occurrence of a client record matching to a name on a sanction, risk or PEP register has to be investigated; the review and research of false positives costs institutions time and manual effort. “Fuzzy” techniques are essential to find inexact matches, but they often produce large numbers of records for review and the vast majority of these will be false positives. Click here for the entire article…
Top 5 Risks When Implementing ECM – By Bob Larrivee,
Director and Industry Advisor at AIIM
Establishing an Enterprise Content Management (ECM) environment is more than just installing an ECM software package. It takes a lot of thought, planning and change management to fully succeed. We took a look at what the user community was saying about their efforts and identified some issues related to their projects. We know that there has been a major shift in where information comes from in our businesses. According to IDC, 80% of the information created and maintained within an organization is unstructured while 90% of this is unmanaged.
Controlling this within an ECM environment is a smart way to manage your information but you cannot just go out and purchase the software thinking your problems will all be solved. There are many aspects to implementing an ECM solution and establishing an effective ECM environment. We asked the user community who have installed and established their ECM environments, about the biggest challenges or problems they faced.
Now, beginning at number 5, we take a look at the Top 5 Risks When Implementing ECM. Click here for the entire article…
BAD BROKER, CLEAN RECORD? – By Brian Mahany, Esq.
A feature story in this morning’s Wall Street Journal, “Keeping Bad Brokers from Fading into Background” tells the sad truth about what industry professionals already know: Information about bad brokers can disappear in as little as 2 years.
It’s ironic that a 17 year old having consensual sex with a 16 year old in some states will be labeled a sex offender and have to register as such for life; register and be stigmatized with a label often associated with violent sexual predators and serial rapists. But steal or embezzle funds from an 82 year old woman or illegally “churn” or gamble away someone’s inheritance monies and your record could disappear in just 2 years. How is this possible? Click here for the entire article…
PCI Compliance Deadlines– By JCB International
Knowing the critical deadlines for the Payment Card Industry Standards - PCI DSS, PA-DSS, and PCI PED - is vital for any merchant or payment service provider. But finding all the PCI compliance dates can be tricky: even though the PCI Security Standards Council (PCI SSC) developed these standards, compliance is actually mandated by the individual payment card brands - Visa, Master Card, American Express, Discover and JCB International.
The PCI SSC does not currently maintain a comprehensive list of the PCI compliance deadlines on their site, so we compiled one here for each payment card brand, along with a link to their PCI compliance program section of their sites. We hope you find this list useful.
Click here for the entire article…
Cost of PCI Compliance – 'What does it cost be PCI compliant?’ is a common question by business owners and software providers facing compliance requirements. Several estimates have been generated by industry leaders on PCI compliance costs.
Click here for the entire article…
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October 1, 2009 - The Future of Security Standards & Regulatory Frameworks presented by Mathieu Gorge
This webinar reviewed key industry and legal security
mandates and suggested a simple framework to help organizations with
their compliance effort.
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