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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: IT outsourcing HIGH RISK used by Australian Criminal Bankers. ANZ in the thick of it

Posted by on in ROYAL COMMISSION URGENT
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Hate to think of the mess – ANZ first and worst

 

Why IT Outsourcing May Be Riskier Than Ever

As day-to-day IT operations become inextricably tied to outsourcing providers, the likelihood of business disruption escalates, forcing regulators to step in.

http://deloitte.wsj.com/cio/2012/07/09/why-it-outsourcing-may-be-riskier-than-ever/

 

Business leaders and CIOs have myriad options when it comes to outsourcing. They can outsource application development and maintenance. They can outsource IT support. They can put data center operations in the cloud. With international borders breaking down, outsourcing a number of different processes around the globe is becoming much less expensive, and companies may not consider that their outsourcers could also be outsourcing.

If there’s one activity CIOs can’t outsource, however, it’s risk management. They’re accountable for the business and IT risks associated with their third-party relationships, says Walter Hoogmoed, a Deloitte & Touche LLP principal in the Information and Technology Risk Management practice of its Audit & Enterprise Risk Services business.

The need to manage the risks associated with using any third-party service provider—whether for IT, customer support, manufacturing, or business process outsourcing—may be growing more urgent. Many organizations are using multiple third parties to help accomplish their business objectives, and in an increasing number of cases, those third parties are reliant on fourth and fifth parties, says Hoogmoed, which heightens complexity and risk.

read more    http://deloitte.wsj.com/cio/2012/07/09/why-it-outsourcing-may-be-riskier-than-ever/

 

 

Thursday, 17 July 2008

ANZ’s growing legion of Indian staff

http://www.crikey.com.au/2008/07/17/anzs-growing-legion-of-indian-staff/

 

Thursday, 17 July 2008

Stephen Mayne writes:

BUSINESS

 

ANZ went ballistic at The Daily Telegraph in October 2006 when it splashed the paper claiming its Indian offshoring plans were far more comprehensive than the reality.  There was this defiant ANZ press release pointing out that technology out-sourcing is very different from shifting call centres offshore.

Media Watchweighed in, ANZ’s legal threats were reported in The Age , the call centre industry was up in arms, the scandal makes The Tele’s Wikipedia entry and Crikey’s coverage at the time showed the depth of anger led by former ANZ CEO John McFarlane who wanted to pull the bank’s News Ltd advertising.

Fast forward two years and new ANZ CEO Mike Smith told this Indian newspaper in April about hugely comprehensive offshoring plans, although once again it is back office rather than call centre functions  .Whilst the comments to Australasian staff and media were more circumspect, The India Times quoted Smith as follows:

I hope to move much of the straight-through processing and really start to build stuff like the Internet bank channel and electronic channels. So your back office disappears anyway. Process re-engineering of the back-end operations will mean using our Bangalore facilities much more.............. I think our systems at times are somewhat archaic. ............Huge profits from the world’s most expensive banking system, unilateral increases in mortgage rates and now a renewed offshoring push, is there anything that will get Kevin Rudd and Wayne Swan up in arms about our outrageous banking cartel?

read more    http://www.crikey.com.au/2008/07/17/anzs-growing-legion-of-indian-staff/

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  • organza
    organza Tuesday, 21 April 2015

    You cannot outsource accountability!

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Guest Tuesday, 26 January 2021