Tom J. Canova, Co-Founder, CMO Modevity

The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to alert financial institutions to potential indicators of cybercrime and cyber-enabled crime observed during the COVID-19 pandemic. Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic. This advisory contains descriptions of COVID-19-related malicious cyber activity and scams, associated financial … Read more ADVISORY ON CYBERCRIME AND CYBER-ENABLED CRIME EXPLOITING THE CORONAVIRUS DISEASE 2019 (COVID-19) PANDEMIC

Fundamentally, the terms “outsourcing” and “supply chain” are used interchangeably and refer to when an organization is dependent on a third party for providing products and services. However, there are many examples of internal sourcing (or “insourcing”), where supply chains consist of entities and processes under the direct internal control of an organization such as … Read more OUTSOURCING SUPPLY CHAINS – COMPLIANCE RISK & NATIONAL SECURITY

There are an estimated sixty-two countries that violated United Nations Security Council sanctions against North Korea over a one-year period, according to a report from a Washington, D.C.- based think tank The Institute for Science and International Security report, recently released, cites over 250 alleged violations from February 2019 to February 2020 based on data compiled by the United … Read more REPORT: OVER 60 COUNTRIES VIOLATED SANCTIONS WITH NORTH KOREA LAST YEAR

As the coronavirus pandemic negatively impacts the economy and tax revenues drop across the U.S., many have begun to prepare for the hard times ahead by proposing slashed budgets and reduced public services at a time when so many of their residents need them more than ever. But the austerity programs will not be rolled out … Read more LAW ENFORCEMENT NEW BUDGET CONSTRAINTS – NEED TO EXPAND OUTSOURCING SUPPORT SERVICES LIKE INVESTIGATIVE DUE DILIGENCE

It’s not surprising that our current coronavirus pandemic has compelled some financial institutions to reduce staff, furlough or reassign staff at a time when applications for government relief programs are flooding in, increasing banks’ compliance risks, the Office of the Comptroller of the Currency (OCC) recently stated. On Monday the OCC, which supervises and regulates … Read more BANKS & FINANCIAL INSTITUTIONS FACE ESCALATING COMPLIANCE RISKS IN THE PANDEMIC

Today now more than ever, Law Enforcement agencies are tasked with the immense duty of keeping our communities safe.  As the type of threats communities face become more complex, law enforcement personnel need solutions that enable them to keep on top of safety threats and investigations.  New investigative data research analysis, new technology, and data … Read more ACCLERATING CRIMINAL INVESTIGATIONS WITH BIG DATA & INVESTIGATIVE DUE DILIGENCE RESEARCH SUPPORT

Ways We Can Solve Law Firms’ Critical Needs Searching Google and examining Public Records as well as, private information diminishes your Legal teams’ productivity and takes valuable resources away from revenue-generating activities. Modevity investigative Due Diligence provides the dedicated research resources to reduce search time and allows your professional legal staff to focus on other … Read more MODEVITY INVESTIGATIVE DUE DILIGENCE SERVICES – SOLVES LAW FIRMS CRITICAL NEEDS

When making important business and legal case decisions, it is critical to undertake an appropriate Investigative Due Diligence research initiative.  Investigative due diligence refers to the database research and analysis of an individual or organization done in preparation for a business transaction or legal litigation strategy.  Concealed or misrepresented facts can leave companies vulnerable to … Read more LEGAL LITIGATION INVESTIGATIVE DUE DILIGENCE SUPPORT VITAL TO PREVAILING

Do you know your customer?  If you are a Bank or other Financial Institution (FI), you could face possible fines, sanctions, and reputational damage, if you do business with a money launderer or terrorist. More importantly, KYC is a fundamental practice to protect your organization from fraud and losses resulting from illegal funds and transactions. … Read more KNOW YOUR CUSTOMER (KYC) PROCEDURES TO ASSESS CUSTOMER RISK & LEGAL REQUIREMENT TO COMPLY WITH ANTI-MONEY LAUNDERING (AML) LAWS

The Department of Commerce’s Bureau of Industry and Security (“BIS”) published two new final rules and a proposed rule in the Federal Register amending the Export Administration Regulations (“EAR”) to tighten restrictions on exports of technology to China, Russia, and Venezuela. According to Commerce Secretary Wilbur Ross, these actions are intended to combat efforts by … Read more COMMERCE TIGHTENS RESTRICTIONS ON TECHNOLOGY EXPORTS TO COUNTRIES OF CONCERN, IN PARTICULAR CHINA, RUSSIA & VENEZUELA

No doubt, COVID-19 is shaking up the markets, and we are seeing more uncertainty in the public markets and venture segments than we have since 2008. VC Investments Will Likely Become Somewhat More Conservative Among the #VCs the general response to various industry surveys, a little more than half thought they would make fewer and … Read more HOW WILL COVID-19 AFFECT VENTURE CAPITAL INVESTMENT STRATEGIES AND VENTURE-BACKED STARTUPS?