» Publisher's Corner
Calvin D Johnson Money Laundering in the Wake of the September 11th Attacks

TPAtlanta has spent the last two months discussing some of the more sinister components of the worldwide Transaction Processing Industry. We first described how terrorists can use Hawala to move money behind the scenes. We then began to explore money laundering and how money laundering can impact the economies of the world if left unchecked.

This month we will take a look at just what efforts are being undertaken in the Anti Money Laundering (AML) industry, both from governments and from the private sector.

As if often the case, the least important trend is the tightening of financial regulations and the establishment or enhancement of compulsory, as opposed to industry or voluntary, regulatory and enforcement agencies.

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Calvin D. Johnson, Publisher
publisher@tpatlanta.com
Trans Atlantic Systems, Inc.

   » Fascinating Facts
Did you know?

   » Editorials/People

Retail Breach Forces Banks to Cancel Cards

Several financial institutions last week canceled thousands of credit and debit cards in Michigan because of fraud concerns related to an apparent data compromise at a convenience store chain, highlighting the wide effect that retail security breaches can have.

“Fifth Third Bancorp, a large Cincinnati-based banking company, said it was reissuing debit cards to "a limited number" of customers in Michigan after being notified by Master?Card International Inc. of potential compromises. Two Muskegon, Mich.-based institutions, Community Shores Bank Corp. and Family Financial Credit Union, said they also replaced some of their cards after seeing evidence of fraudulent transactions.

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   » Main Story
Travel industry faces changing landscape

Shane Hammond Shane Hammond, Executive Vice President- Sales & Client Services - TRX speaks to Chitra Padmanabhan about the developments in the travel technology area.

He also talks about how critical it is to provide a 24/7 service to customers and how travel remains the lynchpin of the company's strategy also touching on how the company is going about tapping the Indian travel segment.

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   » Feature Stories
Cancel a card, hurt your credit score
Business people

Everyone knows that your credit score is important to your financial life, affecting the rates you get for mortgages, credit cards and insurance. Improving your score may save you thousands of dollars in interest. So would it help your score if you got rid of a credit card?
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Identity Thief Is Often Found in the Family

In the five years since his divorce, Eric Wagenhauser had moved on with his life. He had remarried and was sharing custody of the three children from his first marriage. Then, last year, Mr. Wagenhauser discovered a new wrinkle on American divorce: his former wife had used the children's Social Security numbers to apply for nine credit cards in their names. She obtained two.
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   » Earlier this week
CheckFree Reports FraudNet Adoption, New Consumer Protections

CheckFree has announced that more than 40 financial institutions will deploy CheckFree FraudNet, its automated fraud detection and case management system, by the end of 2006.
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Global Payments Adds to Financing Capability with New Credit Facility Agreement

Global Payments Inc announced the completion of a five-year, $350 million revolving credit facility agreement with a syndicate of financial institutions.The facility expires in November 2011..
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Google Inc to offer free online payment services

Google Inc. said that it would offer merchants free online payment services until Dec. 31, ratcheting up competition with EBay Inc.Businesses using Google Checkout will receive free processing for all sales, the Mountain View, Calif.-based company said.
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S1 and IBM offer Banks Innovative 'Branch in a Box'

S1 Corporation, a leading provider of customer interaction software for financial and payment services, and IBM Corporation announced their joint solution for deploying a first of its kind "branch in a box."
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   » Industry News
CyberSource: Fraudsters Pocket $3 Billion From U.S. eCommerce in 2006

CyberSource has announced the results of its 8th Annual CyberSource Survey of eCommerce fraud - reporting that U.S. merchants will lose as much as $3 billion in eCommerce revenue to fraud in 2006, up from $2.8 billion last year.
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Equifax Lauded Among Financial Technology Leaders in 2006 FinTech 100

Equifax Inc.today was named as a technology leader to the 2006 FinTech 100 list by American Banker and Financial Insights.The company placed 26th in this prestigious annual listing of technology companies..
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Global Payments Europe Completes Asset Acquisition of Diginet d.o.o

Global Payments Inc. a leader in payment processing services completed the acquisition of the assets of Diginet d.o.o., an indirect payment processor based in Sarajevo, Bosnia and Herzegovina.
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S1 Corporation Appoints CEO and Reports Third Quarter 2006 Results

S1 Corporation announced that the Board of Directors has appointed Johann Dreyer, former Group President of S1's Postilion Business Unit, as CEO, President and Director of S1 Corporation.
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TPAtlanta is both a digital newsletter dedicated to the Transaction Processing Industry in Atlanta and a networking association for that group. It is brought to you by Trans Atlantic Systems, a company specializing in IT work for the Transaction Processing industry. We believe that a collection of professionals as large as the one concentrated in Atlanta, engaged in Transaction Processing, needs a single source for information dedicated to their industry!

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