Convenience Legitimizes Big Brother Security
By Michael O’Connor, President of IronClad Consulting
Despite the fact that CDI has inherent weaknesses, as do all of the prior fraud prevention technologies, it is providing tremendous benefit to many companies, ranging from credit and loan issuers to social networking sites to online retailers. This is especially true when layering it with other effective technologies.
Anti-Money Laundering for Crime and Terror
By Michael O’Connor, President of IronClad Consulting
With criminal money laundering law enforcement can trace events from the crime to the money. However, terrorist methodology uses money to fund an activity which has not yet taken place. Enforcement efforts are placed on stopping the crime before it occurs. The challenges are at opposite ends of the spectrum.
Shared Threat Monitoring Protects Enterprise
By Michael O’Connor, President of IronClad Consulting
Ideally, both government and private sectors would contribute to the system, which would provide real-time updates and warnings concerning devices that were previously known to be used in fraudulent activities. An intrinsic benefit of CDI is that it does not hold Personally Identifiable Information (PII) within it. The privacy concerns become moot.
Revolving Door of Abuse: Procurement Fraud
By Michael O’Connor, President of IronClad Consulting
Kellogg, Brown & Root (KBR) was responsible for the kickback fraud that occurred in the US v. Khan case, and has been the focus of many other cases of procurement fraud within the LOGCAP project. Since combat operations began in 2001, DCAA has referred to criminal investigators 32 cases of suspected fraud that were associated with all wartime-support contracts. Of those, the vast majority were related to the Logistics Civil Augmentation Program.
