The PATRIOT software bonanza

[Dave Farber <dave () farber net>]

------ Forwarded Message
From: Richard Forno <rforno () infowarrior org>
Date: Wed, 23 Apr 2003 06:53:47 -0400
To: Dave Farber <dave () farber net>
Subject: FW: The PATRIOT software bonanza

FYI and IP if you like......rf


The PATRIOT software bonanza
There are profits to be made selling computer programs that snoop out money
launderers and suspicious foreign students.

- - - - - - - - - - - -
By Katharine Mieszkowski



April 23, 2003  |  Civil libertarians like to call the USA PATRIOT Act a Big
Brother nightmare come true. But if the rush by software companies to cash
in on Congress' attempt to combat terrorism is any indication, it's not the
government that privacy advocates should be watching with suspicion. It's
the free market.

Witness one recent marketing campaign from database company Sybase:
"Compliance with the USA PATRIOT Act has never been easier, thanks to
Sybase's PATRIOTcompliance Solution," reads a promotion for the company's
new anti-money-laundering product on its Web site.

Title III of the USA PATRIOT Act steps up the requirements for financial
institutions -- banks, insurance firms, credit card companies -- to monitor
customer transactions for suspicious activity. That means new markets for
companies already peddling anti-money-laundering software, known as "AML
solutions."

"Although the law imposes new burdens on banks, it is proving to be a boon
for vendors of AML and related products and technology," wrote Breffni
McGuire, a senior analyst for TowerGroup, a financial services technology
research firm, in a report titled "The USA Patriot Act: Impact on AML
Vendors and the Market." She reported that vendors saw inquiries about the
technology rise 200 to 300 percent in the months following Sept. 11.

< snip >

http://www.salon.com/tech/feature/2003/04/23/patriot_software/print.html


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