VARINDIA IT MAGAZINE

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   McAfee and Guardian Analytics have uncovered a global financial fraud ring. So far, McAfee estimates the criminals have attempted somewhere between €60 million and €2 billion in fraudulent transfers from at least 60 banks. This fraud empire, dubbed Operation High Roller, is comprised of at least a dozen groups that use active and passive automated transfer systems to steal high-value transactions from high balance accounts. The Operation High Roller attacks have impacted thousands of every class of financial institution: credit union, large global bank and regional bank, using smaller and less detectable automated transactions.  "We need to remember that criminals are agnostic when it comes to the colour of money. This latest series of coordinated, highly automated attacks moves quickly through multiple continents, scales easily and suggests collaboration across multiple criminal specialists. The size and resources of the ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE The Board of Directors of Cap Gemini S.A., chaired by Serge Kampf, was convened in Paris on February 15, 2012 to review and authorize for issuing the accounts of Capgemini Group for the year ended December 31, 2011. The Group reports total 2011 revenues of €9,693 million, up 11.4% on published revenues (i.e. at current Group structure and exchange rates), representing growth of some two points above the objective set at the beginning of the year. On a like-for-like basis (i.e. at constant Group structure and exchange rates), revenues rose by 5.6%, with the difference between these two rates primarily due to the consolidation of CPM Braxis (Brazil) and Prosodie (France), acquired in October 2010 and July 2011, respectively. Bookings during the year totalled €9,903 million, down on the last year (-8.4% like-for-like) during which a large number of Outsourcing Services contracts were renewed. Conversely, Technology Services, Local Professional ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Virtusa Corporation has reported consolidated financial results for the third quarter fiscal year 2012, ended December 31, 2011. Revenue for the third quarter of fiscal 2012 was $72.2 million, an increase of 3% sequentially and 30% year-over-year on both a reported and constant currency basis. Virtusa has reported income from operations of $6.6 million for the third quarter of fiscal 2012, an increase compared to $5.5 million for the second quarter of fiscal 2012, and an increase compared to $5.0 million for the third quarter of fiscal 2011. Net income for the third quarter of fiscal 2012 was $5.6 million, or $0.22 per diluted share, an increase compared to $4.7 million, or $0.18 per diluted share, for the second quarter of fiscal 2012, and an increase compared to $4.2 million, or $0.17 per diluted share, for the third quarter of fiscal 2011. Net income for the third quarter of fiscal 2012 included $0.2 million of foreign currency transacti...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE BEAM has been recognized as one of the leading 50 Financial Inclusion projects in India for the year 2011 by the SKOCH group that recognizes best practices from the banking and financial services sector for promoting growth and poverty alleviation from across urban and rural India. Anand Shrivastav, CMD, BEAM said, "It is indeed a proud moment for BEAM. We started our journey with RBI registration in 2009 and we feel that this kind of recognition for innovative services by SKOCH will help us exude confidence from the decision makers, partners as well as the end consumers. We have already bagged 7 million customers and are expecting double-fold growth in the coming years." For More Details See www.varindia.com

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Oracle has introduced its Financial Services Enterprise Case Management to help financial services institutions more effectively and efficiently manage financial crime investigations and compliance across their enterprises. The new solution, which is powered by the Oracle Financial Services Analytical Applications infrastructure, is said to provide financial services organizations with a single, enterprise-wide case management platform to meet the diverse demands of their business-specific investigation functions. In addition to gaining increased visibility into investigations across the enterprise, Oracle Financial Services Enterprise Case Management is believed to help banks reduce operational costs associated with managing compliance and financial crime. With the enterprise-wide case management platform, they can consolidate technology costs from multiple financial crime and compliance programmes and leverage technology expertise and reso...