ADVISORY/Experts Available to Discuss Patriot Act's Oct 1st Deadline, Software Used to Help Financial Institutions Comply.

Business Editors

ADVISORY...

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TOPIC: As the federal government's Oct. 1 deadline approaches, many financial institutions are turning to software companies to help them comply with the USA Patriot Act. The Patriot Act requires banks, investment firms, insurance companies and stock and commodities exchanges to use strict customer-identification procedures to prevent money laundering, fraud and to identify terrorists, according to an article by Wall Street & Technology online. Experts estimated financial institutions could spend approximately $632 million on anti-money-laundering software and services between 2003 and 2005. ACI Worldwide, Fair Isaac and Mantas are among the software vendors that provide anti-money-laundering software.

EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story:

Don Temple, Mantas, Inc., is a nationally recognized expert in the area of currency reporting, money laundering, the detection of suspicious transactions, and fraud investigations. Mantas is a leading provider of enterprise behavior detection solutions for the financial services industry. Don spent 26 years with the Internal Revenue Service, where he served as a Special Agent in the Delaware-Maryland District. In 1984, Don became the Bank Secrecy Act Coordinator and ultimately developed the Maryland Financial Investigative Task Force - a multi-agency organization that included the FBI, U.S. Customs Service, U.S. Postal Service, and the Drug Enforcement Administration. Highly influential, the group functioned as a model in forming subsequent United States task forces. He is a regular guest speaker at industry conferences and has conducted hundreds of presentations for banks, money service businesses, business groups, and the Department of Justice, as well as federal, state, and local law enforcement agencies. PR Contact: Brian Ruby 203-406-8800 x11 [e-mail]

Steve Biafore is vice president of the Healthcare Market Unit at Fair, Isaac, the leader in analytics and decision technology. He was formerly with HNC Software, Inc., which became part of Fair, Isaac as of August 2002. Biafore has more than 15 years' experience in applied data analysis using advanced statistical methods, data mining, neural networks and predictive modeling. Over the past decade, he has helped design and deploy software solutions to detect credit card fraud and identify workers' compensation abuses. For nearly 10 years, he also has focused his efforts on developing software capable of detecting healthcare fraud, abuse and waste. For nearly 10 years, he also has focused his efforts on developing software capable of detecting healthcare fraud, abuse and waste. While at HNC, Biafore has co-authored several patents relating to the use of advanced analytical methods to detect fraud and abuse in large, complex databases. PR Contact: Joy Scott 818-610-0270 [e-mail]

John Daly is president of Americas Software, the leading developer of anti-money laundering and regulatory compliance software for the financial services industry. Founded in 1995, the company's products are currently installed in more than 100 institutions in 25 countries. With more than 20 years of software-development experience, Daly has designed several international and domestic software applications. His areas of expertise include: international banking regulations and compliance issues, risk management, international payments and backroom systems. PR Contact: Jodi Paradise 305-446-2700 [e-mail]

Nancy M. Smith is a leading investor advocate and expert in the areas of securities policy and regulation. Nancy served from 1994 to 1999 as Director of the SEC's Office of Investor Education and Assistance, reporting directly to Chairman Arthur Levitt. During her time at the SEC, Nancy developed a variety of initiatives to educate investors, including a nationwide series of Investor Town Meetings, and led the effort to produce reporting materials in "plain English." Prior to joining the SEC, Nancy was the Director of the Securities Division for the State of New Mexico. Nancy also served as Senior Finance Counsel for the U.S. House of Representatives Subcommittee on Telecommunications and Finance where she worked on a range of issues including the October 1987 market break, program trading, mergers and acquisitions, leveraged buyouts, limited partnerships, the SEC and its budget, and financial market reforms and trading. Because of her background and expertise, the media and various organizations often ask Nancy to speak on issues of securities law, investor protection, and corporate accountability. As a consultant, Nancy advises Mantas about how its products can best meet the compliance needs of the financial services industry. PR Contact: Brian Ruby 203-406-8800 x11 [e-mail]

ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue.

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