Software incorporates Bank Secrecy Act requirements.

Press Release Summary:



RiskWatch for Financial Institutions(TM) assists with IT security compliance risk assessment required by regulators. It performs analysis of risk elements, and creates fully automated reports that include proof of compliance, discovering areas of non-compliance and highlighting recommendations for ROI of mitigative controls. Program also provides full analysis of cumulative loss expectancy and evaluation of solutions based on cumulative loss reduction potential.



Original Press Release:



New BSA (Bank Secrecy Act 2006) Software Released by RiskWatch for Financial Institutions



ANNAPOLIS, Md., Nov. 8 /-- RiskWatch, Inc. announced today that it has released a new version of RiskWatch for Financial Institutions(TM) software program incorporating the new Bank Secrecy Act requirements which were released on July 28, 2006.

The upgraded software for banks now includes not only BSA, but also the FFIEC authentication risk assessment requirements, as well as the FFIEC IT security guidelines, and the PCI, identify theft and Sarbanes-Oxley compliance standards. The software program includes highly specialized support features such as hosting of the surveys and assistance with the risk assessment set up and execution.

The RiskWatch(R) software assists financial institutions with the IT security compliance risk assessment required by regulators, in an easy-to-use, affordable software package. Web-based surveys which measure compliance across the bank are included, as well as complete automated management reports, with over fifty working papers.

According to Gary Swindon, a former RiskWatch user, who recently joined RiskWatch as COO, "RiskWatch's compliance assessment can become part of an internal self-assessment program that allows banks to check their compliance before regulators come in, and provides an opportunity to enhance compliance with the hundreds of elements in a security risk assessment."

RiskWatch has incorporated these regulations into a true enterprise risk assessment software program which features a robust analysis engine which does the analysis of the risk elements, and creates fully automated reports which include proof of compliance, discovering areas of non-compliance and highlighting recommendations for Return On Investment of mitigative controls, a full analysis of cumulative loss expectancy and evaluation of solutions based on their cumulative loss reduction potential.

RiskWatch(R) is the top-rated developer of innovative compliance and security risk assessment software that automates the risk management process. RiskWatch customers include insurance companies, financial institutions, hospitals and health plans, state and federal agencies and Fortune 1000 companies. For additional information, visit the RiskWatch web site at www.riskwatch.com/, or contact RiskWatch, Inc. at 410-224-4773, x105.

CONTACT: Caroline Hamilton, President of RiskWatch, Inc., +1-410-224-4773, x105 - office, or +1-301-346-9055 - cell, or chamilton@riskwatch.com

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