Identity Resolution Daily Links 2007-10-12
[Daily Post from Infoglide Software] Money Laundering Makes the World Go Around, the World Go Around
“The clinking clanking sound of money laundering — the third largest business in the world at $1.5 trillion annually, according to the TowerGroup — does indeed make the world go around. And if the subprime loan debacle could set off a worldwide panic, imagine what would happen to the world’s economy if banking regulations were effective and the third largest business ceased to exist.”
Travel Management: TSA Gets Earful on Air Security Proposal
“The Transportation Security Administration through Oct. 22 is collecting public feedback on proposed changes to its nascent Secure Flight air passenger security program. […] The overall tone of more than 100 comments already filed–as well as the remarks from industry participants during a public TSA meeting last month–was decidedly negative. Some suggested the program violates constitutional rights to privacy and expressed opposition to what they perceived as a requirement to ask the federal government for the permission to travel. Others questioned if airlines and travel agents would have sufficient time to adjust their business processes.”
“Community banks and credit unions that use technology as part of their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) programs are much more confident in their compliance with BSA requirements than those financial institutions that rely on more manual approaches, according to a recent survey conducted by Wolters Kluwer Financial Services. […] Despite these figures, more than half of the survey’s 140 respondents, all of which had less than $3 billion in assets, reported that they still do not use technology as part of their BSA and AML programs.”
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