New Year 2009: Top Risks and Regs to WatchA Look Ahead at Fraud, Compliance Issues that Await Us
From Bear Stearns to IndyMac, Eliot Spitzer to Bernard Madoff, AIG to WaMu, BCP to TARP...2008 has been an historic year for banking institutions. And everybody from regulatory examiners to practitioners and service providers looks forward to closing the books on the old year and ringing in the new.
As we head into 2009, here are some articles and insights to help you prepare for the demands of the New Year:
Data breach notification legislation, increased scrutiny of identity theft prevention measures and the possible overhaul of the federal banking regulatory structure are just a few of the items up for discussion. Based on expert insight, here are the 10 regulatory issues that will be among the top concerns for financial institutions in 2009.
From Hannaford Brothers to Countrywide, 2008 has been full of stories of criminal activity on the Internet, with hackers and phishers wreaking havoc on computer systems and consumers, causing credit and debit fraud numbers to soar.
What does next year hold for fraud against financial institutions? Here are 10 of the new and old ways criminals will be looking to commit fraud in 2009.
Amidst the bad tidings of this particular holiday season - bank closures, market losses and mass layoffs - comes a ray of hope. There are some good, solid job prospects for banking/security professionals in 2009.
Interviews with industry and employment leaders reveal the top growth areas for job seekers looking to make new moves in information security, regulatory compliance or even the regulatory agencies.
In addition to these key articles, there are some exclusive, in-depth interviews you should peruse, including:
And while we all want to look strictly ahead, let's not lose sight of some of the biggest lessons-learned in 2008. Among the look-back articles:
From Hannaford to Countrywide to the Bank of New York Mellon, 2008 has been a year of high-profile security breaches in or impacting the financial services industry. Here's our list of the top 10 - and lessons that should be learned, so we aren't back revisiting these issues in '09.
Major banks and investment firms around the globe foundered, failed and were acquired or propped up by their governments and regulatory overseers. Stock markets plunged as the subprime problems of investors around the world began unraveling. Opportunistic fraud was uncovered.
Here are the top events that impacted our industry in 2008.
Also, be sure to check in with our bloggers for some end-of-year insight, including:
Mike D'Agostino on Predicting the Next Regulatory Challenge for Financial Institutions
David Schneier on New Year's Resolution: Assess Your Risk