by Optima Compass | Nov 3, 2023 | Company News
At Optima Compass Group, we are committed to maintaining the highest standards of security to protect our users’ data. Optima’s Security team establishes policies and controls and monitors compliance with those controls to ensure that your data is protected at all times. Our Security Policies are based on the foundational tenets of information security: confidentiality, integrity and availability. Every element of our information security program has been designed to implement one or more of these principles. How we do it ? Data Protection Data at rest Customer data is protected at rest through a multi-layered security approach that includes encryption, access controls, and monitoring. All data in our Google Cloud Infrastructure is automatically encrypted at rest using strong encryption standards, such as AES-256. Data in transit All Google Cloud virtual networking traffic is encrypted by default using TLS. Data that travels over the open internet is protected using several mechanisms, including HTTPS, SSL/TLS, SSH and VPN, all of which use encryption to protect data and credentials. Moreover, server TLS keys and certificates are managed by Google Cloud and deployed via Application Load Balancers. Secret management We use Google Cloud Secret Manager, a secure and convenient storage system for API keys, passwords, certificates, and other sensitive data. Secret Manager provides a central place and single source of truth to manage, access, and audit secrets across our Google Cloud infrastructure. Product Security Penetration Testing We conduct penetration tests on a regular basis and whenever significant changes are made to our infrastructure or applications. Findings from these tests are used to enhance our security posture continuously. We also stay updated with the...
by Optima Compass | Nov 17, 2021 | Uncategorized
Cross River Bank (“Cross River”), a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, today announced that it has partnered with Payment Approved, a fintech that offers an easy access to end-to-end payment solutions for clients in the Money Service Business (“MSB”) sector, e-commerce businesses, and retailers, to provide businesses with faster and broader payment options that are safe and secure. Learn more at...
by Optima Compass | Oct 8, 2018 | Alerts
The federal depository institutions regulators and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively. Collaborative arrangements as described in the statement generally are most suitable for financial institutions with a community focus, less complex operations, and lower-risk profiles for money laundering or terrorist financing. The statement, which was issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, FinCEN, the National Credit Union Administration, and the Office of the Comptroller of the Currency, explains how these institutions can share BSA/AML resources in order to better protect against illicit finance risks, which can in turn also reduce costs. Today’s joint statement is a result of a working group recently formed by these agencies and Treasury’s Office of Terrorism and Financial Intelligence aimed at improving the effectiveness and efficiency of the BSA/AML regime. Link to the press...
by Optima Compass | Jun 25, 2018 | Alerts
Japan’s financial watchdog is reportedly planning to force improvements at a number of licensed cryptocurrency exchanges over perceived issues with internal systems, including anti-money laundering (AML) measures. According to a report from Nikkei on Tuesday, the country’s Financial Service Agency (FSA) intends to ensure full compliance with current AML rules at larger exchanges as their holdings of customer funds rapidly increases. The report suggests at least five exchanges, including bitFlyer, Quoine, and Bitbank, are on the FSA’s list to receive “business improvement orders” this week. Please click on the link below to read the entire article....
by Optima Compass | Mar 13, 2017 | Alerts, Company News
When it comes to financial crime compliance, a lot can change in 20 years. Just ask Jorge Guerrero, the chief executive of Optima Compass Group, a consultancy that, like the man himself, is pushing the boundaries of convergence and technology to better counter criminals. Please click on the link below to read the entire interview: https://www.acfcs.org/news/329235/Member-Spotlight-Advice-to-follow-the-money-leads-to-20-year-career-in-AML-for-Jorge-Guerrero-.htm...
