(Thomson Reuters Regulatory Intelligence) - Last month's cyber attack against Bangladesh's central bank in which hackers stole $81 million from the bank's account at the Federal Reserve Bank of New York and then laundered the funds has ignited a debate at U.S. financial institutions regarding whether cyber security and anti-money laundering units should be merged to better combat financial crime.
from The Human Impact:
In a globalised world where everything at home is becoming more costly, outsourcing your needs to a third party thousands of miles away for less money makes a lot of sense.
from The Great Debate:
In May, computer analyst Edward Snowden flew to China, handed over volumes of National Security Agency surveillance data to a reporter, and launched a heated national conversation about our nation’s surveillance state. Underscoring that conversation was the fact that Snowden was a private contractor, given access to a vast store of information despite having virtually no track record with the NSA or the private firm with which he was employed.
from Financial Regulatory Forum:
By Emmanuel Olaoye
WASHINGTON/NEW YORK, July 13 (Thomson Reuters Accelus) - Bank regulators this week raised their warnings to financial institutions on the dangers of using vendors that provide so-called "cloud computing" services.
from India Masala:
India is the land of colours, sound, and call centres -- or at least, that is what Western popular culture has been trying to reinforce over the past few years. "The Best Exotic Marigold Hotel", starring Judi Dench, is Hollywood's most recent expedition to India, and it sticks to the formula.
from Tales from the Trail:
The Obama reelection team is out with a new ad today defending itself against allegations, advanced last week in an ad from the conservative group Americans for Prosperity, that billions of stimulus dollars meant to create "green energy" jobs in the U.S. had been spent instead on creating jobs abroad.
Municipal bond ownership has remained relatively steady over the past year, according to the Federal Reserve's latest Flow of Funds data, which was released yesterday (Fed's L.211 Municipal Securities and Loans page 92). The data paints a different picture than the one we typically hear from the media of large outflows from retail investors and mutual funds following Meredith Whitney's prediction of massive municipal defaults. Essentially the whole municipal bond market has increased slightly in size, growing from $2.842 trillion in 2Q 2010 to $2.886 trillion in 2Q 2011. Ownership for all categories has remained pretty steady.
from India Insight:
When the British were finally expelled from India in 1947, driven out of a country scarred by decades of imperialist rule, they left at least one parting gift: a linguistic legacy that has formed a crucial ingredient in the country's economic miracle.