Zero tolerance to Frauds

Enforcing Security Policies Beyond Office Walls Controlling Risk Wherever Your Employees Are FAST-GROWING USE of mobile technology is forcing IT security experts to rethink how they keep equipment, employees, and data safe outside the office. Policies and tools that work within the corporate firewall or campus are often unable to keep laptop-toting employees from getting into trouble when they connect to uncontrolled networks at home or while traveling. “If you’re a road warrior, once you leave the four walls of your corporate office or don’t otherwise have access to the virtual private network, you can go wherever you want and do pretty much anything,” says Lawrence Orans, research director at Gartner. “This presents its own set of risks to the company.” Those Pesky Policy Knowledge Gaps Those risks are unfortunately magnified by inadequate employee training. Jonathan Rutherford, head of corporate and public sector marketing for Vodafone UK (online.vodafone.co.uk), says the growing f

Financial Institutions, 21 January 2009 Citigroup to splits up the bank Citigroup said it is reorganizing the group into Citicorp and Citi Holdings. Citicorp will include the retail bank; the corporate and investment bank; the private bank; and global transaction services. Citi Holdings will consist of the asset management and consumer finance segments, including CitiMortgage and CitiFinancial. It will also be in charge of Citi's 49% stake in the joint brokerage with Morgan Stanley BBK launches Capinnova Investment BankBank of Bahrain & Kuwait (BBK) has launched its syariah compliant investment banking arm - Capinnova Investment Bank. The wholesale Islamic investment bank is licenced by the Central Bank of Bahrain. Capinnova has an authorised capital of $500 million and paid-up capital of $125 million. Its core businesses include private equity, asset management and corporate finance. India: Scotiabank to trade in precious metalsCanada’s Scotiabank said it is planning foray int

Retail Banking, 21 January 2009 JPMorgan to rebrand WaMu branches for $300 million JPMorgan Chase said it will spend $300 million to rebrand 708 branches and 1,900 ATMs in California with the Chase logo as part of its integration with Washington Mutual (WaMu). It will also spend $75 million to open an additional 20 branches throughout the state in 2009. All WaMu branches will be rebranded nationwide by the end of 2009.Citi restructures private banking in ChinaCiti said it is restructuring its private banking business in China, denying a news report which said the bank would close it. As part of the restructuring, the bank reportedly said it is merging the private banking with its consumer banking business. TCB to set up joint insurance arm with BNP The Taiwan Cooperative Bank (TCB) has inked a joint venture agreement with BNP Paribas Assurance to set up an insurance arm with an initial working capital of NT$2 billion ($60 million). TCB will take up a controlling 51% stake with BNP owni

Risk Management, 21 January 2009 Basel Committee announces enhancements to Basel II The Basel Committee on Banking Supervision has issued a package of consultative documents to strengthen the Basel II capital framework. The proposed changes to capital requirements cover trading book exposures, including complex and illiquid credit products; certain complex securitisations in the banking book; and exposures to off-balance sheet vehicles (ie asset-backed commercial paper conduits). National Bankshares names new chief financial officer US-based National Bankshares announced the appointment of David K Skeens as treasurer and chief financial officer. Skeens will continue to serve as senior vice president of Operations and Risk Management at the community bank subsidiary, National Bank. China busts 40 illegal banks in five months More than 40 major illegal private banks were uncovered in a five-month joint operation between the Ministry of Public Security, the People's Bank of China and

Indians flee Dubai as dreams crash N Raghuraman / DNA 14/01/2009 It's the great escape by Indians who've hit the dead-end in Dubai. Local police have found at least 3,000 automobiles — sedans, SUVs, regulars — abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind by owners in a hurry to take flight. The global economic crisis has brought Dubai's economic progress, mirrored by its soaring towers and luxurious resorts, to a stuttering halt. Several people have been laid off in the past months after the realty boom started unraveling. On the night of December 31, 2008 alone more than 80 vehicles were found at the airport. "Sixty cars were seized on the first day of this year," director general of Airport Security, Mohammed Bin Thani, told DNA over the phone. On the same day, deputy director of traffic, colonel Saif Mohair Al Mazroui, said they seized 22 cars

The G30 group of experts, led by Barack Obama’s advisor Paul Volcker, has published 18 proposals for a financial system overhaul. While Citi will split in two, Bank of America will receive $138 billion to prevent it from turning its back on a moribund Merrill Lynch; the UK Treasury is working on a new bailout package. African Union leaders are discussing the creation of the African Investment Bank, hoping to launch the long-delayed project by year-end with $25 billion in capital. The Iranian government will reportedly open a branch of Export Promotion Bank in Karachi this year and seek closer ties with the State Bank of Pakistan. The CEOs of Mizuho’s financial group, corporate bank and retail bank will be replaced April 1st, but their newly-created chairmanships will make Mizuho one of Japan’s most top-heavy groups. CBRC chairman Liu Mingkang has told listed state-owned banks and joint-stock commercial banks in China to increase their NPL coverage ratios to 130% and 150% respectively.

Further to my earlier posting on what Fraud Managers should do for 2009, its important to ensure the Fraud Work is completely understood by most importantly the CEO and to the Board of Directors , Business Heads. Please revisit the number of times the Fraud Managers interact with Policy, Audit, Compliance,Credit Teams in your respective orgnaisations. Your monthly updates, business newsletters go to who all ? Is the content simple ? Is it only data we are showing ? Patterns ? Most of our front end activity reflects the poor sourcing and weak customer accqustion process, have we been able to significantly impact on this with inputs that can benefit the orgnaisation. How can fraud managers help business managers achive targets ? Are you all marked in all marketing plans, target market testing , invitation for town house or calls on business perfomance reviews ? Are you and most importantly your teams also invited to all the business conferences, reviews, that happen in your orgnisatio

Very informative. CCR World magazineThe latest issue of CCR World magazine is also available to read online, completely free of charge. Simply click on this link: http://edition.pagesuite-professional.co.uk/Launch.aspx?referral=other&refresh=e12N3T0ji7C1&PBID=fcdb42ce-d430-4a92-b20d-7712ebac7476

Most of the Podcasts available on i-tunes is free of cost, however you will need to have an ipod, and the i-tune downloadable free of cost from the apple site.

Good T V Serials we can watch Boston Legal Dexter C S I Miami C S I New York The Practice Damages Burn Notice Perry Mason The Equilizer Murder she wrote L A Law Crossing Jordan The Unit Heroes John Adams Weeds The Shield Numbers Criminal Minds Shark The Monk Most of these have a legal story, investigation , crime related, it helps in understanding methods of detection, way of the criminal mind, defence lawyers vs the courts, logic, long court battles, hair-raising court room scenes, prespectives of the peverted minds, how they are caught, how math helps in solving crimes, clues, interrogation etc. Some of them are on air , else you can always rent them from a large library or buy them from amazon.

I am appending a small list of movies people can watch any time. Dan in Real Life I am Legend Sound of Music Catch Me if you Can 16 Blocks Family Stone R V Ghostbusters Falling in love Winchester 73 The Magnificent Seven 10000 B C Where Eagles Dare Butch Cassidy and the Sundance Kid The Jason Bourne Series Shoot to Kill The Boys from Brazil Enigma Gorky Park The American President Wall Street Apocalypto Good Morning Vietnam Fire Fox The Dirty Dozen The Wild Geese Cleopatra See no evil , Hear no evil Money Train Avalanche Express Cassandra Crossing Telefon Death Wish 1,2,3 Karate Kid Rambo First Blood Rocky Last Train from Gun Hill Rio Bravo

Mobile spyware.is it real or some scam to download spyware on the user's mobile http://www.spymastertools.com/Ultimate-Bluetooth-Mobile-Phone-Spy_p_0-8.html i think such products can provide a sense of security as well as threat.they may also download spyware on the instrument of person who intends to use it on a third party's mobile instrument.at the same time it's a threat to privacy.

For those familiar with Podcast there are a host of very interesting podcasts that can be downloaded daily or in a frequent basis from many of the leading Consultancy Groups, Orgnisations, and professional sites. All you have to do is to go to the AppleItune page and see the podcasts listing in the menu, you will find a variety of topics, subjects, industry, GK, forensic investigations etc, please click the link and accept the same on the I-tune, every day the same can be downloaded to your IPOD, and its a wealth of information for us in this industry. For businenss management you have the Harvard Idea Cast which is essence of conversations on varied topics and subjects that matter the world most by the elite Harvard Professionals. The best thing about podcasts is that you can listen to this on your i-pod any time , replay it , pause it at your conveneince. I felt many may like to seek information other than fraud related subjects and i-tune podcasts provide one such avenue to enhance

Its a very good time for all Fraud Managers to re-visit : Scope of the Fraud Policy for their respective orgnaisations SWOT study List Achivements made in the year 2008 List Shortfalls in the year 2008 What where the surprises , what where the lessons learnt What they did well with little effort, what they did not achive inspite best efforts Financials of the FCU Unit Clear identification of Change leaders in the Units Clear - Well Defined Job Roles with pin point Job Descriptions Plan for the year 2009 ( Manpower and Financials ) 5 importants things for the year 2009 to focus on Mission Statement for the year 2009 Strategy Paper for the year 2009 What else can Fraud do in light of growing delequency, fraud losses, SKIPS Strategy to show Fraud Recovery this will be a welcome sign to any orgnaisation as far as flows inward on NCL accounts Quality Control Audits for the Fraud Vendors and for Process Testing of entire FCU workflows Automation and Innovation A detailed drape document on a

Ernst & Young, in conjunction with Oxford Analytica, interviewed more than 100 analysts, representing 11 industrial sectors and more than 20 academic disciplines. Respondents were asked to identify and provide commentary and insight on the top 2009 business risks likely to face leading global firms in their sector. Their views on the major long term issues threatening businesses in 2009 have been encapsulated in the attached Report. Risks rated as having the greatest impact across the largest number of sectors were chosen as the top 10 risks for global business in 2009. This year the credit crunch displaced regulation and compliance from last year’s top spot. There were a number of unexpected outcomes from this year’s study. For instance, ‘business model redundancy’ was ranked as the 9th top business concern. In light of the fact that many sectors are having to make long-established business models obsolete, it was surprising to see that a review of an organisation’s strategy is so

Citi’s reported decision to cede control of crown jewel brokerage Smith Barney to a joint venture with Morgan Stanley is the first nail in the coffin of its universal banking model. Commerzbank is the first bank to get recapitalised in the new year, with the German government stumping up $13.4 billion to help ensure its takeover of Dresdner Bank. Kuwait’s Global Investment House said that its delay in refinancing a $200 million syndicated loan last month has triggered cross-defaults in most of its $3 billion in debt. Twenty of Japan’s regional banks are preparing ATM alliances in a bid to compete with Japan Post’s massive network, which has just connected to the national payment infrastructure. Société Générale’s China CEO said that as foreign players sell off their Chinese bank investments, his bank would be among those on the lookout to purchase them. Thirteen executives from a subsidiary of Fubon Bank in Hong Kong have reportedly been suspended for an alleged hire-purchase loan frau

Preventing Harassment By John M. Bagyi and Matthew G. Boyd January 2009 Print Edition Only: No Weight: 0 Beyond Print?: No Issue: January 2009 [1] Teaser: By understanding workplace violence, how to prevent it, and how to respond when a complaint arises, companies significantly reduce the chances of being sued. By now, every company should recognize the importance of preventing workplace harassment. The statistics show, however, that despite some progress, the problem persists. With regard to sexual harassment, the trend is that fewer charges are being filed. Between 2001 and 2006, the number of sexual harassment charges filed with the Equal Employment Opportunity Commission (EEOC) dropped every year, from 15,475 in 2001 to 12,025 in 2006—a 22 percent decline. But the trend for harassment overall is in the opposite direction. The number of harassment charges filed with the EEOC in 2007 hit 27,000—greater than in any of the previous 10 years. By understanding workplace harassment, ho

Corporate Developments Indian software services provider Satyam Computer Services’ chairman Ramalinga Raju has resigned after announcing the company had falsified accounts and assets. MasterCard announced that it is to acquire Orbiscom, an Ireland-based payments solutions software provider, for a purchase price of approximately $100 million. Core Banking Russia’s Alfa Bank has extended its relationship with solutions provider Misys until 2020 to jointly ensure the bank complies with the central bank’s regulations and accounting standards. ERI announced Axis Bank’s Singapore branch has gone live with its Olympic Banking System to support its wealth management and private banking offering. Nucleus Software reported that the UAE’s National Bank of Umm Al Qaiwain has chosen its FinnOne Suite to support its retail finance division, which offers auto, personal and home loans. e-Channels In the US, uMonitor announced that Standard Bank and Trust has selected its online account opening and fun

1. HEALTH enough to make work a pleasure.2. WEALTH enough to support your needs.3. STRENGTH to battle with difficulties and overcome them.4. GRACE enough to confess your sins and forsake them.5. PATIENCE enough to toil until some good is accomplished.6. CHARITY enough to see some good in your neighbor.7. LOVE enough to move you to be useful and helpful to others.8. FAITH enough to make real the things of God. 9. HOPE enough to remove all anxious fears concerning the future.

Something All Banking Professionals should know!! Six Bank professionals under the age of 33 have died and 2 top executives from renowned Banks have become paralyzed because of stress-related heart ailments in the last six months in Chennai, says a study by Mitran Foundation, a Bangalore-based voluntary association of practicing doctors. "All the six who died, and the two who became invalid, had no family history of heart attacks or any pre-history of heart ailments or paralysis. They were all in their prime, between 27 and 33 years, and handled challenging projects at work in their respective companies. They worked long and continuous hours. The end struck them very suddenly, and it looked as if their hearts refused to take any more stress ," said Dr Dwarakanath, director of Mitran Foundation, who has studied stress components in more than 40 Banks in Chennai during the last six months. The study, conducted at a cost of Rs 45 lakhs, covered more than 4,000 Banking profession

Satyam chief confesses to cooking the books By Joe Leahy in Mumbai Published: January 7 2009 08:03 Last updated: January 7 2009 08:03 The chairman of India’s Satyam Computer Services B Ramalinga Raju Wednesday confessed to fixing the company’s books for the past “several” years in the country’s first major fraud case to emerge following the global financial crisis. In a letter to Satyam’s board, Mr Raju resigned after admitting to wildly inflating the company’s margins to paint a picture of good performance and retain his management position in one of the worst scams to have hit India’s outsourcing sector. “It was like riding a tiger, not knowing when to get off without being eaten,” Mr Raju said, explaining how the fraud got out of control over a period of years. India’s fourth biggest information technology outsourcing firm by revenue with listings in New York and Mumbai, the scam at Satyam has rocked the country’s business world. India generally gets high marks for corporate govern

Whenever I'm disappointed with my spot in life, I stop and think about Little Jamie Scott. Jamie was trying out for a part in the school play. His Mother told me that he'd set his heart on being in it, though she feared he would not be chosen. On the day the parts were awarded I went with her to collect him after school. Jamie rushed up to her, eyes shining with pride and excitement, 'Guess what, Mom', he shouted and then said those words that will remain a lesson to me..... ' I've been chosen to clap and cheer. '

One country, one bank account’ may turn a reality Our Bureau Mumbai, Jan. 6 If you are banking with several banks, keeping track of all the accounts can prove to be cumbersome. Life would be easy if a single account number gives you access to all banks. Well, the Indian Banks’ Association, at the behest of the Government, is examining the feasibility of a ‘One Country, One Bank Account’ proposal whereby a single bank account is all that an individual would need to transact business at any bank in the country. If the ‘One Country, One Bank Account’ proposal, currently on the drawing board stage, becomes a reality, it could revolutionise the way banking transactions are carried out in India. From ‘Any Branch Banking’ services being currently offered by individual banks, the Indian banking system would be graduating to ‘Any Bank Branch Banking’. With ATM-cum-debit cards now being enabled for conducting transactions across the ATM networks of banks in the country, the ‘Any Bank Branch Bank

How to Defend Your Online Reputation: Five Tips – Dan Tynan, PC World 2008 It's not what other people think of you that matters. It's what they can find out about you on the Web that will affect your ability to get a job or promotion, rent an apartment, buy a house, be accepted into the school of your choice, or find the love of your life. MORE ON REPUTATION MANAGEMENT Managing Your Reputation Online Increasingly, your personal reputation is at the mercy of search engines, blogs, and social networks, none of which themselves have a sterling reputation for accuracy. Identity theft, libel, defamation, mistaken identity, and youthful indiscretions captured forever—these are just a few of the things that can come back to bite you. Fortunately there are ways to fight back—five ways, in fact. And it all starts with discovering the depth and breadth of your personal Net footprint. 1. Google Yourself It's not enough to have the respect and admiration of your family and your peers