Identity Resolution Daily Links 2007-11-19
“Many retailers have tightened their return policies in recent years after a rise in return fraud in which stolen merchandise is returned without a receipt in exchange for a refund or store credit. The latest Internet-based twist: the emergence of so-called ‘E-fencing’ Web sites that sell stolen merchandise at cut-rate prices. A survey of members by the National Retail Federation put shoplifting losses last year at a record $13.3 billion, up from $13 billion in the previous year. Overall shrinkage, which includes employee theft and vendor fraud, rose 8 percent to $40.5 billion. As a percentage of sales, shrinkage was unchanged at 1.6 percent.”
Hi-Tech-Blog: New Data Mining Techniques Studied
“Most of the information that hinted at possible trouble prior to the 9-11 attacks was buried under massive amounts of data being collected faster than analysts could handle. . . . To prevent such pieces of information from being missed again, researchers at the DHS Science and Technology Directorate are developing ways of viewing such data as a 3D picture where important clues are more easily identified.”
InvestorDaily: Austrac issues AML warning: Call for industry collaboration
“Regulator Austrac has warned the financial services sector that the industry has until December to comply with the first phase of Australia’s anti-money laundering (AML) and counter terrorism laws. From December 12, firms will need to have internal AML compliance programs that verify the identity of customers. Businesses that breach the laws can be fined $11 million, while individuals within the company penalties of up to $2.2 million.”
KansasCity.com: Some funds of U.S. agency end up with groups tied to terrorism, audit finds
“The agency that distributes billions of dollars in American foreign aid cannot ‘reasonably ensure’ that its money does not wind up in terrorist hands, an internal audit has concluded. The U.S. Agency for International Development funded groups with ties to terrorism on at least two occasions, the agency’s inspector general found in an audit. That included approving $180,000 for a Bosnian group whose president was on a ‘watch list’ that barred him from entering America, and $1 million for an aid ‘partner’ who later pleaded guilty to lying to federal agents about his involvement with a disciple of Osama bin Laden.”
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