BITS Financial Services Roundtable
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Current Initiatives

BITS' initiatives change periodically based on the business environment. BITS addresses additional short-term issues on an as-needed basis.

Fraud
Chair:
Kim D. Duncan, SunTrust Banks, Inc.
Vice Chair:
Thomas French, Bank of America
BITS Staff:
Heather Wyson, Vice President
heather@fsround.org

The BITS Fraud Reduction Program reduces fraud in the financial services industry through information sharing, best practices, analysis of emerging threats, and cooperation among member institutions and the vendor community. A number of working groups operate under the BITS Fraud Steering Committee, including groups exploring identity theft, collections practices, phishing and other e-scams, loan fraud, and legal and regulatory issues. An Internet fraud group focuses on the fraud implications of online transactions and account openings, and identifies fraud-mitigation technologies.
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Vendor Management
Chair:
Grace Wasko, Wells Fargo
Vice Chair:
Karen L. Jones, HSBC North America Holdings
BITS Staff:
Paul Smocer, FSTC President
pauls@fsround.org

The Vendor Management Working Group strengthens the security and privacy of services provided by third parties in support of the financial services industry. The group's work builds on the BITS Framework for Managing Risk for Information Technology (IT) Service Provider Relationships, which provides the financial services industry and service providers with risk-management strategies for evaluating IT outsourcing relationships. Current work addresses the role and supervision of dependent providers to financial institutions' service providers.
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-Richard A. Clarke, Chairman, Good Harbor Consulting, and former Special Advisor to the President on Cyberspace Security