A target-rich environment

Lots of articles to chose from today, with one to highlight:

Ongoing problems with Healthcare.gov.  Lots of project lessons to be learned there.  And the importance of being able to get timely access to reliable information, both for the user and for the insurers.

Continuing battles over NSA facilities in Utah and the electrical outages.  Could we get the Healthcare.gov people to help?

France joins a long list of countries who object to the US spying on their citizens.  Zut alors!

Influential guru urges Indians to dig for gold, and they do it. Does the source have more credibility than the information?

J.P. Morgan and the proposed penalties for helping the government out by buying up issuers of sub-par mortgages.  Will the story never end? The $13 billion fine reportedly is no big deal.  Maybe if the officers and directors had to pay it.  Or if they realistically faced criminal prosecution.

Banks searching through emails and texts on allegations of rate fixing for foreign exchange.

Now we can get the names in the Libor scandal.  Judge lifts prohibition on publication.

eBay as a employment pool for other companies – skills learned = information with value?

eBay faces subpoenas for allegedly excessive finance charges

Wikipedia investigates sources of suspicious articles.


But the one I highlight: “Caesars Las Vegas Unit Faces Probe,” Wall Street Journal, October 22, 2013 B6 http://on.wsj.com/19YVUt6  Investigation of alleged violations of money-laundering provisions of Bank Secrecy Act (I would have thought it was the reporting cash transactions at $10,000 and above of the Currency Transaction Reporting Act). Caesars’ had withdrawn from a proposed casino project in Massachusetts after opposition from the state gambling commission.  Stock off 4.8%.

Points this raises for me:

First, I am reminded of an important case on collective knowledge in corporations and criminal exposure – US v. Bank of New England, 821 F.2d 844 (1st Cir., 1987), involving the $10,000 reporting requirement.  The bank was held criminally liable for not reporting two cash deposits by the same person of just under $10K at two different branches.  Even though no single human at the bank knew of the two separate transactions, collectively (through the knowledge of all its agents together) the bank knew.

Second, how does your reputation with the regulators affect your business plans?  Are there mergers or other deals that you can’t get approved?

Third, the stock value hit of a government investigation.



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Filed under Business Case, Controls, Data quality, Governance, Information, Internal controls, Knowledge Management, Operations, Privacy, Protect assets, Requirements, Risk, Use, Value

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