In this issue, find out how your corporate banking clients can implement the internal controls they need to prevent check fraud and comply with the risk management requirements of SOX legislation.  Learn about some of the emerging trends in online banking - as highlighted by Gomez Watchfire's 'Banker Scorecard' (Q42004), what some banks are doing to comply with Check 21, and what's buzzing with smart card technology.

Sarbanes-Oxley Compliance:
Laying Plans for Check Fraud
Prevention Controls
Written by Jessica Andrews, AP Technology

Effectively adopting technologies and documenting internal procedures/controls that minimize the risk of financial fraud are important means of complying with Section 404 of the Sarbanes-Oxley Act.  This article gives an easy-to-digest overview of:

I    The Sarbanes-Oxley Act and Section 404 Requirements.
II   COSO’s Enterprise Risk Management Framework (ERM Framework) - which has become   the SEC-accepted methodology for compliance with Section 404.
III   Check Fraud Prevention Controls - An ERM-directed approach to evaluating a company’s risk for check fraud and to establishing preventative internal controls.
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With the year 2005 underway, there are several areas of interest to watch for in the banking industry, particularly when it comes to technology trends in the financial sector. This article highlights just a sample of innovations and projects that are on the move, which could potentially shape 2005 and beyond. 
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Fight Internal Fraud: Internal Controls, Policies Help Deter Fraudsters
Posted March 7, 2005
From DMNews, by Joel Bartow
The risks to businesses from corporate swindles are greater than ever. The proper procedures and tools, however, can help prevent many workplace crimes. Businesses unable or unwilling to identify and control such problems do so at their own risk.
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District Attorney Launches New Bad Check Program
Posted March 2, 2005
From the Ledger Dispatch, by Stan Oklobdzija
Amador County District Attorney Todd Riebe recently announced his office is taking bold new measures in order to combat check fraud in Amador County. “My goal in establishing this New Bad Check Restitution Program is to increase responsiveness to victims,” said Riebe.
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Check Fraud Arrests
Posted Feb 21, 2005
From WRIC-TV8 (Richmond, VA/Petersburg, NC)
Arrests are piling up in a massive check fraud scheme costing metro Richmond businesses and banks thousands of dollars. The investigation is still in the early stages but federal investigators say arrests have been made in 3 states that tie in to the local check thefts.
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Morganfield Police Break Up Check Fraud Ring
Posted February 16, 2005
From The Union County Advocate (Union County, KY)
The Morganfield Police Department has arrested six Marion, Kentucy residents believed to be involved in an interstate check fraud ring.  Those arrested allegedly wrote checks throughout Western Kentucky, Southern Illinois, and the southern Indiana area.
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Headquartered in Carlsbad, California, AP Technology is focused on creating products that automate secure connections between businesses and banks.