Attention, Attention... ATTUS is moving! Click here to find out where.
 Congratulations to last quarter's winner, Jerry Hansen, Washington State Employees Credit Union, in Olympia, WA. Jerry won an iPod nano just for sharing his opinion. And you can too! Just complete our reader survey & you'll be entered in our iPod drawing. Check back monthly to see if you're the next winner.
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Understanding the Dodd-Frank Act – Part 1
 Preparing for Reform When the Act’s Details are Still Murky
By Lori Moore, CRCM, Director of Compliance
Since July 21st, 2010, much has been written about the historic bill that passed that day, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Major newspapers, media outlets, industry publications and financial niche blogs all covered the act in one way or another, whether summarizing all or parts of it or expressing their opinion about it. Emerging from all that coverage, several things are clear: 1) four main, but quite broad, goals are laid out in the act covering multiple federal regulatory agencies and a wide-range of risk compliance concepts, 2) sixteen titles with over 500 regulatory additions or changes are written to achieve those goals, 3) financial institutions are currently overwhelmed trying to sort through the cornucopia of information within the act, and 4) everything else is still unclear. Where does that leave your financial institution? You know you need to prepare but that may seem almost impossible at this juncture, when the exact details are still so murky. However, waiting isn’t the answer; laying out a strong plan of attack is a much wiser, and in the end, cost and risk effective approach.
Building An Effective BSA/AML Program:
Assessing Your Institution's Risk
In addition to reporting and recordkeeping requirements, the BSA requires all financial institutions to implement a program that is reasonably designed to identify suspicious activity and prevent the laundering of funds derived from illegal activity. To be successful, the program must contain procedures that are based on an assessment of the institution’s overall AML risk profile. This webinar will help your institution understand how to identify and assess its BSA/AML risks and to develop an effective program in accordance with the specific requirements set forth under the Bank Secrecy Act.
Speaker:
Lori Moore, CRCM
Director of Compliance
ATTUS Technologies
9/16/2010 3:00PM ET to 4:00PM ET
 Question: When an RDFI wants to do a Notice of Change (NOC), what if the sender does not respond, but continues to send to the wrong account number. What can you do to get the sender to correct the account number in the NOC?
Answer: File a rules violation. The originator has six (6) banking days from the time they receive the NOC to respond. The rules do not allow them to resubmit an entry until it is corrected.
Got a question on a tricky regulation? We want to hear from you! Submit your question and an expert will answer it in a future issue.
New Vishing Spree Strikes U.S.
Fraudsters Targeting Mobile Devices, Smaller Communities
By Tracy Kitten, bankinfosecurity.com
In July, two phone-based phishing, or vishing attacks, hit residents in Provo, Utah. In August, 10 additional attacks were reported, incorporating a combination of vishing and text-message-based smishing scams, aimed at various communities scattered throughout the United States. The common factor: Perpetrators targeting customers of community banking institutions.
"Recently, we've seen them pop up in low-fraud, small places," hitting markets where consumers might not be so savvy or prepared for a socially engineered attack, says John Buzzard, who oversees client relations for FICO's Card Alert Service, which provides decision management and predictive analytics solutions for card issuers.
Vishing and smishing have replaced the traditional e-mail phishing attacks that were more prevalent three years ago, he says. Since January, the documented number of traditional e-mail or phishing attacks has significantly dropped. "What's replacing them are these new waves of text and person-to-person scams," Buzzard says, "and they're not being tracked."
Executive Order 13382
treas.gov
In joint actions, the U.S. Departments of Treasury and State announced the designations of five North Korean entities and three individuals under Executive Order (E.O.) 13382 for supporting North Korea's Weapons of Mass Destruction (WMD) program. Executive Order 13382 is an authority aimed at freezing the assets of WMD proliferators and their supporters thereby isolating them from the U.S. financial and commercial systems.
Six Ways to Supercharge Your Productivity
By Tony Schwartz, hbr.org
I feel lucky to have a job, and especially one I love, but the fall ahead is intense, daunting, and demanding, as I suspect it is for you. I'm anxious about the economy. I'm wondering when the next shoe is going to drop. I'm concerned about how my company will hold up if things do get worse.
Add to all that the digital demands of the world we now inhabit. Armed with ever more ways to connect with each other, and to stay current in every moment, we often aren't sure where to put our focus. We find it harder to give all of our attention to anything — or anyone — for very long.
The consequence is that we're undertaking more and more tasks every day, but they often add up to less and less real value.
What, in short, does it take to be productive and efficient in a world of infinitely rising demand, and endless potential distractions? By productive, I mean generating goods and services with lasting value. By efficient, I mean doing so with the least amount of unnecessary expenditure of time and energy.
Here are six behaviors to supercharge your productivity...
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