accurate financial data. and so i mean, there's a lot of challenges and a lot of the projects are mapped incorrectly and including bonds, and so we are working very diligently to clean a lot of those things up. but we can't just do it in a box, other city departments, giving we do a lot of funding to other agencies. >> thank you very much. and that's the last of my questions. >> thank you, thank you very much for the report. a couple of quick questions. there are expenditures related to i think a shared jurisdiction, and so for cal train, electrification, $20 million. is that -- is that shared corridor or -- how are bond dollars appropriately spent in these mixed use shared corridors? >> to be completely on northwest with you, cal train is probably my weakest areas of the bonds. our portion what we are contributing. i don't think it's necessarily the san francisco portion of the cal train tracks. however, i could -- i could look at that information and get you more information. >> ok. thank you. >> that would

established in 1992 lead in the executive branch to better financial management and decision-making. priority is included transparency and data management, shared services, property, grants management, internal control, federal financial reporting, data collection and charge cards. we could probably add more to that if we want to increase the responsibilities that i think that is plenty. it's currently serving as deputy directothedeputy director of thf management and budget and the opportunity to familiarize yourself simply reports the deputy director. you've recognized the federal government continues to waste far too much money on improper payment and how they can effectively reduce this number. once again, thank you all for your service and for being here and i look forward to hearing from each of the nominees. >> it is accustomed to swear in witnesses before they give testimonies and please stand and raise your right hand. >> do you swear the testimony you give will be the truth of the whole truth and nothing but the truth, so help you god? what the record reflect all of the witnesses answered in the affirmative. i want t

>> coming up the timing of the attack and how investigators think the thieves took customer's financial data. >>> if you hope to change the world, you must find your fearlessness. >> and words of wisdom from apple's tim cook, his advice today to graduating class at duke university. >> well, another breezy, cool afternoon. a live look from our golden gate bridge camera. we are tracking even cooler brought business and labor together to expand career training and apprenticeships, invested in transportation and helped create over 200,000 living wage jobs. antonio villaraigosa for governor. over 200,000 living wage jobs. that violent crime went up 18% in san francisco. in la, mayor antonio villaraigosa put more police on the streets and cut violent crime in half. california's police chiefs trust antonio for governor. if you used a credit card at a chili's hackers may have stolen your information. it affects in restaurant purchases between march and april. chili's believes the malware gathered credit, debit card information and names. chili's operates a dozen restaurants in bay area. the company

>> well there's no question we have emails, text messages, we have financial data, information, i mean there's a lot of information out there. >> let's get to tom. tom, we know the companies are acknowledging public they paid cohen. it's important here. it appears six months ago robert mueller first began asking questions about this. he's been on this money trail for sometime? >> that's right. it's been on his radar. the other question was this lobbying. michael cohen was not a registered lobbyist. so many saying that's what he was doing. what's unusual is michael cohen had these clientsss at the same time he was personal counsel to the president. >>> coming up after this the tragedy involving twin infants left unattended in an suv. >>> a family surrounded by cheetahs when they got out to take a walk. a lot news ahead. because each day she chooses to take the stairs. at work, at home... even on the escalator. that can be hard on her lower body, so now she does it with dr. scholl's orthotics. clinically proven to relieve and prevent foot, knee or lower back pain, by reducing the shock a

in iran millions of people who live in venezuela they just get censored from transmitting data financial data across the world here twitter continues their own crackdown partly because you. various parties and groups are angry at other parties and groups twitter will hide more bad tweets in conversations and searches twitter will begin using a wider range of signals to rank tweets and conversations and searches hiding more replies that are likely to be abusive the company said today comments from users that have been blocked muted or reported for abuse will be less visible through the service c.e.o. jack dorsey said right censorship and that's what happens with free speech is that eventually it empowers and richest people who then use their power to curtail free speech so this is the ugly side of democracy and freedom and fortunately i know of two twitter competitors that are coming online that are bitcoin crypto enabled and jack dorsey who is a keynote speaker at consensus this year if he wants to go against the crypto crowd he will be decenter mediated just like every major bank well this i

>> well, there's no question we have e-mails, text messages, we have financial data, information, i mean there's a lot of information out there. >> let's get to tom. tom, we know the companies are acknowledging publically they paid cohen. some saying it was a big mistake. something else that's really important here. it appears six months ago robert mueller first began asking questions about this. he's been on this money trail for sometime? >> that's right. he's been looking into this for months. it's been on his radar. the other question was this lobbying? from what we know michael cohen wasn't a registered lobbyist. so many saying that's what he was doing. legal experts tell us what's unusual is that michael cohen had these clients at the same time he was the personal attorney to the president. david. >> tom, thank you. . >>> coming up the controversial arrest of a grandmother pulled out of her car. tonight the late development involving one of the officers now. >>> the tragedy involving twin infants left unattended in an suv. now the investigation. >>> that close encounter. a family su

regulation has been loosened does that worry you i think in those a ten years ago financial system is very different because many data companies can't access to finance and they can start to finish their business then regulation for banking is no longer applicable to new comers so we have to think about entire financial technological changes and also that groove on side of the architecture otherwise financial system who can very unstable so we have to think about international regulation then quinary charge it has to be regulated and much more broader sense of legislation will be needed rather than just keep on focusing on banking and traditional financial system that sounds like a very tall order considering that data usually doesn't know any borders. and if the new global financial system is data driven. how long do you think it will take to have an international regulation international supervision to deal with it i think business is going much more quickly than diggnation because any business can start selling their products from new york london to japan in india or your country so i think that maybe has to be es

and to to secure financial infrastructure with consumer data and plays a critical role with cyberthreats and to share cyberthreat information but quickly to combat those threats we need to build on that and for that financial system is the foundation and the economy that the cyberthieves will try to steal money and their in a hostile country to disrupt the financial system we cannot risk undermining that system. and to undermine our trust that would take more than hearings or legislation to restore that trust. and all of those to address those issues thank you. >> thank you senator brown we will move to the witnesses and their testimony. we have five excellent witnesses i will briefly introduce mr. nelson and mr. daniel and then senator brown will introduce the other two from ohio. president and ceo. it has held such a position is 2006. and with the global financial services industry two from the banks and credit unions and insurance companies. and with that cyberthreat alliance and formed in 2014 through the informal agreement with the networks and semantics. serving from june 2012 thro

he will not be limited in the financial data that he has access to. i suspect he already knows where the money ended up and who was involved. and then the secondary assessment or really primary assessment is do the financial transactions amount to a crime or are they simply distasteful? >> you talked about what this might mean for the white house. kristin welker tried to get the press secretary to talk about that a little bit. >> the president promised to drain the swamp. does he feel it is appropriate that michael cohen, his personal attorney, was selling access to? >> i will not weigh into this. i haven't spoken to the president. >> has the president taken action to benefit novart s? >> not that i am aware of. >> i think this is very swampy. cohen's broader -- michael avenatti's point here has been made successfully. >> i think the bigger story here is he is outtrumping trump. he has the drip, drip, drip effect. the stormy daniels situation would continue to play out. he has been able to play the press and keep this top of mind through several weeks

conversation that i didn't mention, in my conversation with ojpod, they did say they collect hospital financial data, but that has not been released publicly historically, but they are making plans and in the process of being able to upload that data, but it is able to be released to the public. so at the point we don't know how much hospitals are sachbing sachbing -- saving or spending, but that'll be available in the next month. >> supervisor fewer: thank you very much. so i'm hearing there's some interesting in doing a study, but that perhaps we should start this after hiring the new executive, so my staff -- >> yes. through the chair, angela calvillo, interim administrative officer. while the bulk can be done by the new executive officer once that individual is hired by the commission, i can begin some preliminary work in terms of collecting the information of each hospital, finding who the right person is. i can also contact the hospital council to determine if they've done an unless of any kind since the last time you did that, commissioner ronen, so i'm happy to start that. >> supervisor fewe

being in debt isn't only about owing money it's also about being in the wrong is the financial data but also a psychological debt that weighs just as heavily on the inhabitants of the indebted country. debt and. kind of double jeopardy. or did you sell to decrease your. oh not distant finis joe bus. says if one day i suddenly want to keep ability economy. just because i happen to live in greece somehow i'm a sinner i'm a bad person because of some political acts done by political representatives of one kind or another. therefore it's ok for people to have their lives destroyed it's ok for people to have to tax through garbage and not have anything to eat it's ok for cancer patients to be denied medicine if we're ever going to have morality in the world we need to absolutely reject that logic if there's individuals responsible hold them responsible but don't hold a college to very responsible for the deeds of. to resolve the greek debt crisis the e.u. granted financial assistance in exchange it imposed a draconian austerity program the country was placed under stewardship and lost part o

being in debt isn't only about owing money it's also about being in the wrong is the financial data but also a psychological debt that weighs just as heavily on the inhabitants of the indebted country. debt and. kind of double jeopardy. or did you it us economy so to decrease your. oh not days to finish joe bus. says if one day i want to capability economy. just because i happen to live in greece somehow i'm a sinner i'm a bad person because of some political acts done by political representatives of one kind or another. therefore it's ok for people to have their lives destroyed it's ok for people to have to pick through garbage and not have anything to eat it's ok for cancer patients to be denied medicine if we're ever going to have morality in the world we need to absolutely reject that logic if there's individuals responsible hold them responsible but don't hold a college to very responsible for the deeds of. to resolve the greek debt crisis the e.u. granted financial assistance in exchange it imposed a draconian austerity program the country was placed under stewardship and lost par

financial data typically isn't shared with employees, at least not in my opinion. >> do you normallya good night? >> not considering what we could do on a busy night. we could make 200 bucks apiece. >> and how much will you make on a night like tonight? >> 100 to 120. >> so half. >> for, like--yeah. >> i keep being told, "oh, no, this is a good night." you seem to be the only one that has an issue with it. >> i'm the only one who's speaking up. when you're not here enough to know what's going on, it's really honestly hurtful and insulting because we care about this business just as much as you do. >> i'm doing this as trying to help you guys to make more money. >> what it does is it creates animosity amongst the staff. i wish that over the last year or two, you had the same passion for the business. >> well, i have. >> no, you haven't. you wouldn't be losing money. are you the [bleep] police telling me what i need to do? greg's not in charge anymore. i'm in charge. turn up your swagger game with one a day men's. ♪ get ready for the wild life a complete multivitamin with key nutrients

it's clear the risks to the financial system personal data that these risks are growing. today's hearing will give us a window into how the financial service sector works in cyber preparedness and fighting cyber attacks and promoting cooperation among private and public entities. we must work diligent not just to maintain standards but to also improve protections for financial info structure and customer data whenever possible. as risks increase and threats become more advanced financial institutions and government agencies much facilitate and encourage information sharing. banks have the resources to invest and protect their customers and the fdic reported when choosing the banks are doing better than ever including the benefit from the tax bill net bank income increased 27% compared to 2017. that has been consistent in most cases and double-digit profit increase over most of the last eight years and even without the tax benefits republicans in congress bestowed upon the wealthy bank profits would have been up a 12.6% from a year ago. record profits with banks should not

came with a little scandal is bad then you can imagine what would happen if a large amount of financial data also drifted away in exactly the same and big u.s. fashion or in the small usa robertson thank you so much for your time do appreciate it joining us from coventry today. thank you very much room just to reiterate something that was in paul's report a little public service announcement for you because i know you have had a lot of e-mails with regards to g.d.p. but i do read them carefully i looked at the phrasing of a couple in my inbox and of got more literally arriving at the moment but here's one paraphrased where being more specific about your data rights you do not need to take any action if you continue using our site you are agreeing to these terms that this is basically the do nothing option what it's saying is we've updated our privacy policy the onus is on you to read it and to understand it chances are you won't do that so then it becomes about you i just trusting the company that you're dealing with another e-mail i had looked like this they said to continue to receive the

we have financial data, information. i mean, there's a lot of information out there. >> reporter: abc news has also learned columbus nova's ceo who has ties to a russian oligarch and vladimir putin ally gave $250,000 to trump's inauguration. sources say special counsel robert mueller's team has questioned several witnesses about millions of dollars in donations to the president's inauguration committee made by donors with connections to russia and the middle east. it's unclear why mueller's team is interested in those donors. as for cohen, "the wall street journal" is reporting last year he offered his consulting services to another major company, ford, but he was quickly turned down. the general reports mueller's team has since requested information from the automaker about its contact with michael cohen. >> kenneth, thank you very much. so much to discuss here and let's bring in abc political news analyst matthew dowd. matthew, good morning. so, given that, a, the president's new attorney, rudy giuliani, says the presi

they are attributable to the the we do not have on hand financial data to verify income. you say 16%?-- david: the definition of a qualifying child is how long they live in the household, and marital status. in our analysis, it is frustrating. i will tell you without changes in that legislation, we are invading people's lives. the irs will continue to pay out in-- $25 billion a year improper payments. it is the way the system is structured. mr. chairman: could your team ke recommendations? david: i don't know that we of anything that will make the norm is difference until we fundamentally change the statute. obviously, the finance committee handles those appropriations. the specific recommendations are a long-term issue. irs should say, we need training for tax preparers. the linkage for recommendations, will you please pass those on -- language for recommendations, will you pass those on? david: yes. mr. chairman: is there an estimate of how many individuals will have a simplified process of filing their taxes and what those forms might look like for americans? we are ri

6% of the overpayments are attributable to the fact that the irses does not have on hand the financial data to verify income of those individuals claiming the refundable -- >> 6% or 16%? >> 6%. 94% of the problem as we've analyzed it comes from the complexity of the legislation, the definition of a qualifying child, is someone a relative, how long do they live in that household and then second the marital status. that is in our analysis 94% of the problem and it is frustrating because i will sit here and tell you without changes in that legislation or invading people's lives, the irs will continue to pay out 20 to $25 billion a year, year in and year out, in improper payments. i take no pride in saying that. it is, in fact, the way the system is structured. >> is that something that your team can make specific recommendations and say this is the area where if we can clean this up this will make an enormous difference? >> we have looked at it and we will make some recommendations. i don't know that we've got anything that will make an enormous difference unless we change some of the fundamen

and they're looking at financial practices, at data practices, at violation of european data laws on the uk side. this appears to be new. they've been making the rounds of financial institutions that have done business with cambridge analytica talking to ex-employees. we thought the chapter was over for this company. they're now bankrupt and going out of business. in fact, their journey is just beginning it seems. >> from my gloves your reporting the article i read before i came on air, it seems like a fairly serious inquiry. >> that's right. it's not just the fbi making rounds and talking. there's an actual person who is heavily involved in cyber crimes at justice involved in this. that suggests they are further along than just making the rounds and checking boxes. >> i'm going to need to get full bird watching books to write down all the criminal inquiries and keep track of them when i spot hem. chris lu and nick, great to have you both. next mike it will avenatti is tweeting. that's not good news for michael cohen or donald trump. his latest is a doozy. that story which you want to

>> yeah, it is -- it is even more than customer data you got customer data supply chain data financial dataot of people that come on your show, talking about why companies don't do more. first of all, it is -- it is really hard to secure all of this stuff the industry spent 20 to 25 years billed up these very complicated architecture, database from another, service from one milder ware different applications all of this stuff has to be glued together, and then there is a about complicated world called patching, and attach something you have to know versions of each of these individual pieces, and you have to do it simultaneously without going to excrewateing dale hard part of move to get rid of complexity, and trying to move that to a simpler world easier world, and everything on the cloud, is -- choif arc texted one architecture one server operating, database. >> is sales force able to execute that given you've got so much competition in this field everybody is recognizing the cloud is where you want to be, and you've got lots of companies big and small, trying to get that market share wha

users will be able to know how their data is being used and users can also have their data erased. the financial exact on big tech companies will be minimal, although smaller ones could face more of a challenge with increased regulatory expenses. some american publishers are struggling with the new law. cites like "the l.a. times" and "chicago tribune" were taken down in europeanun ies. >>> another privacy debate is brewing, you've probably heard abou this, ove amazon's smart speaker alexa which one couple says secretly recorded their conversation and sent it to a asndom contact. aditi roy h the details. >> amazon's alexa devices are in 40 milomes across the couny. their jo to always be listening for voice prompts. but in what amazon is calling an unlikely chain ofevents, an amazon echo device inside a home of a rtland,oregon, couple accidentally recorded their private conversation and then sent the audio file to a phone contact. the story is unsettling to echo customers, like alyssa chu. >> that's not what i would intend it to be used for. >> i pretty surprised. that sounds like a lot of mistak

, you are very likely to better meet company challenges and that are likely to have financial outcomes hearing the data that. of -- it ispoint critical. it is also critical for culture. that easier to end diversity in the employee base. emily: we recently read a story about how amazon hq two has a great opportunity. starting from scratch, creating 50,000 new jobs, so they can say, why shouldn't those jobs be half and half men and women, represent people of color in line with the local population? do you think that is realistic? >> absolutely. as you pointed out, when amazon puts its mind to something, they can make it happen. there's no reason why this isn't possible. there is a phenomenal pipeline of talented women at all levels, all the way up through the pipeline. there's no reason why amazon can't tap into that talent to bring more diversity to the table. emily: i want to talk about that. so many people say, we interviewed this amazing woman, executive at this company, but she is so in the man, she chose a motherboard to join -- she chose another board to join. >> the supply is strong. this is not

want to get there, they will have to sacrifice and change their view on opening up their financial industry, their datatry, all of that. it will not be that easy for them. es.se are very red lin if they indeed want to continue to shield their domestic markets it means they have to be exporting less to the u.s. to cut that trade deficit, or trade surplus with the u.s. that is negative for global trade and global growth. while the news may be encouraging, we really need to see the details to see how feasible it is. anna: interesting to talk about how it is possible to do it. this is 1922 on the bloomberg. rising on the u.s. dollar. rising, fairly stable against the u.s. dollar. lots of details about this that we do not yet understand on this story. if we see the chinese promising to reduce their deficit, as you point out, this might have a negative impact on their own economy. the pbc could take some action on interest rates, the amount of debt they have in the chinese economy. this could have big implications. they will be relying much less on global trade. it is way too early for them to restart -- sta

reporter: our financial correspondent in new york, thank you. datavacy versus innovation, europeans, especially germans, do not like companies gathering their information, but it is what has powered the tech giants in the united states and china. the only price europe takes is for taking a lead in regulation. reporter: europe has been left behind. creating tech titans has proven the domain of the u.s., and china holding calendar status. both countries have been able to take advantage of gigantic domestic market, targeted investment, and the mastery of the winner take all models that have allowed the likes of google and facebook to thrive. those are only two out of five most valuable public companies in the world. all tech companies from the u.s.. china's catch-up strategy appears to be working. if technology champions tencent and alibaba are in the top 10. european companies are nowhere to be seen amongst the global elite. but the seeming omnipotence can be waning, and it is europe raking it in. e.u. competition commissioner has pursued antitrust cas

wall street for consumer protection act should banks and others in the financial sector change their policy with regard to big data. i think this is a great opportunity to basically move this forward with a lot less risk because now they can basically you know it's about structured products it's about the things that were to argue regulate bart and now that the data is available there's you know there's firms like myself and many others that since the course of that time has passed has found out ways to get insight and intelligence out of data i think it will be a good thing for the industry i think we'll still be i think will still be safe but i think that the data dow is about is ready to be mined to be able to give everybody a little bit more breathing room to get money working again for people to. trim the sea all pendle systems and most importantly the data wrangler thank you as always for joining us. thank you bart have a great day i think. it's time now for a quick break but hang here because when we return belgariad has a reoccurring pipe dream which may soon call the troops party correspondents now it's t

we will get a rough change of policy on the noise we are seeing or the volatility of financial markets. beenconomic dataumbers are higher than expected, even allowing for the oil price. spanish inflation is taking up a little higher today. the consideration is ultimately price stability. they don't want to engineer financial volatility, that has to be where they go over the medium term. over the medium-term, keep quiet until markets calm down, long-term focus on the fundamentals. tom: when we look at mr. draghi's toolkit, it is about a balance sheet. how does that affect the short-term bond market, the paper the ecb holds? what will it do to the short-term bond market? ul: the ecb is somewhat constrained because they cannot buy bond yields below the refinance rate. all of the short-term paper they own is italian, spanish, and portuguese. the long-term is all german. that is not a deliberate policy, that is the rule the ecb operates by. this is like rolling over debt has beenesting coupons a big deal when it comes to lending policy. the ecb will carry on as is for the time being. they may step out the fr

on the first lawsuit under these new rules has already been filed our financial correspondent. we're talking about data protection activist friends who apart from being quick on the draw is probably very hard to get to know but anyway his his organization called none of your business has filed for complaints against facebook it's a series what's up in instagram as well as google's android and his point of course is that these companies have asked users to take off privacy boxes agreeing to their new policies or risk losing access to the services now this says that this is a form of forced consent and obviously forced consent is not the point of a regulation that seeks to hand more control to users over their personal data now they could face hefty fines if they fight if the courts find out that max trans is right fines could go up to four percent of global revenue so just to put that into perspective for facebook that would be one point six billion dollars based on last year's revenue and for all google's parent alphabet it would be four point four billion so quite hefty. to brussels now correspond to

ceoght, synchrony financial waives the value of data in the age of amazon. this is bloomberg. >> this is bloomberg markets. scarlet: the amazon effect is transforming the way people shop. decisions,g big margaret keane. they discussed how amazon impacts their margins. >> it really doesn't. if you think of how customers in cases where we are seeing a reduction in brick and mortar, most stores will not generating the volume retailer wanted. we are capturing that. for us it is actually helped us become more laser focused on what we needed to do. in addition to digital the other has been analytics and big data. getting the infrastructure right around that so we can help partners combat some of what amazon has been able to do in circle. this virtuous you can see how you are purchasing. by building up the data we can help partners do the same. >> data is valuable. may more valuable than we realized. what you keepide as an asset and what you share. >> it has changed. if we go back, retailers were .ot always willing to share we are seeing a transformation. we are pa

financial scams. i mean you know what i'll do. my data. but i'm going to sit. that mall is shall want to sit and. eat movie sold this because so drawing painter and his model to katherine. once again no mention of her name the money was paid to an offshore company in panama this time. while the drawing turned up at the geneva freeport. of also tend to do. it. as a never before. popular. kid with ship. music he can moan. now surely if i were issued a so it's busy and i want to. hold music or look out it. never. existed i'm not sure i'll say. we contacted katherine utahns lawyer for a response to a serious accusations here is her reply. does not wish to communicate or to participate in any sort of broadcast. model is one of the most controversial products of our time it's a solid vegetable fat that's very cheap. twenty seventeen production grew to sixty three million tons that rapid growth in international demand for cheap oil has led to the massive expansion of the plantations. which is the destruction of rain forest. into the zio alone more than ten million had to has of unique rain forest has be

authenticator username and password undoubtedly contributed to the alarming rise of data breach and identity theft and financial fraud. the keys to the kingdom of identity thieves a criminal possession of your ssn can file fraudulent taxes, open new accounts and take out lines of credit and many other forms of fraud. you're about to buy a home you can experience your worst nightmare window lender pleasure credit to see your score is too low to qualify because somebody fraudulently run up to in your name. for someone who has experienced new account fraud it could take years to recover financially. in 2017 identity identity theft impacted almost 17 million consumers. more importantly consumers cannot protect themselves from the misuse of the ssn as others have stressed the social security administration will only be placed in the most extreme circumstancesth and furthermore the credit reporting industry makes it even more difficult the credit freeze is costly and fraud alert services do not adequately protect consumers. the ceo of lifelock had his identity stolen 13 times after he displayed his real socialse secu

members to report hate crimes and minimize the chances and to provide additional financial results to report crime data and hate crimes to the fbi and to create those euros to help those agencies team up through the task force. and speak out against hate crime state and local elected officials all need to not down the acts of bigotry at every chance they can thank you for the opportunity to appear before you today i am happy to answer any questions that you have thank you for the opportunity to appear before you today i am happy to answer any questions that you have good morning it is a pleasure to be here 24 year career career employee of the doj and i'm delighted to be here with my fellow members to talk about the important work we are doing to combat violent crime. i spent the majority of my time prosecuting a variety of crimes including law-enforcement misconduct human trafficking in hate crimes and i can say with confidence and i can say with confidence hate crimes is among the highest priority for the civil rights division and justice department. they can't be prosecuted in state or federal court

data including social security numbers. the sum of cap the population now at risk for identity theft or financial fraud. social security numbers have become the default identifier because they are truly unique, standardized, and can be verified, but as more of our personal information is available on the dark web for cheap, we need to start thinking about the best way to identify and verify individuals. i would like to begin by asking -- american consumers do not have a full picture of what information is being collected about them. what kind of data is being collected about americans, and our companies required to protect it? >> thank you. first, i would like to clarify raising my hand to the poll question because it was not a yes or no answer. i do not have a problem with the social security number and used as an identifier for social security. to answer your question, companies are now collecting vast amounts of data on consumers, and the problem is that consumers to not have control over this data. fromequifax collects data consumers, it is getting it from other commercial sources. consumers are not

data scandal. >>> it is every investor's work nightmare -- financial fraud.ven though law enforcement agencies have me tools and laws to help police, this system is still far from perfecttond y it was the topic of a conference in w york city. attended by our scott cohn who has covered all manner of fraud over the years. he is joining us to talk about this. this tends to come in waves. so how can investors tell when that's a new wave of fraud on the horizon? did you talk about that today? -- there is a wave coming. that's for sure. according to people tt were at is conference. this was a conference that was put on by the university of california rkeley's center for business and law. so it was really a cross-section of regulators, attorneys, investors, journalists. so a lotnt of iesting takes on this. and it's not just because we're at that stage in the markets or because these things do happen in ves. but because of basic human nature. these frauds tend to build on each other. you know, we had the s & l scandals and all variations on similar themes that means

username and a password, it is undoubtedly contributed to the alarming rise in data breaches, identity theft and financial fraud. ssn is the key to the kingdom for identity thieves. a criminal in possession of your ssn can file fraudulent taxes in your name, open new accounts in your name, take out lines of credit and many other forms of fraud. if you're about to buy a home for instance, you could experience your worst nightmare when a lender pulls your credit and sees that your freckles for is too low to qualify for a loan because has fraudulently run of debt in your name. for someone who has experienced new account fraud, it can take years to recover financially. in 2017, identity theft impacted almost 17 million consumers. more importantly, consumers cannot protect themselves from the misuse of the ssn. others have stressed this would only replace your ssn in the most extreme circumstances. furthermore, the credit reporting industry makes it more difficult for consumers. the credit freeze is burdensome and costly and credit monitoring and fraud alert services do not adequately protect consumers. the ce

are very likely to better meet company challenges and that are likely to have financial outcomes that are better, and the data that. from this standpoint, it is critical. i also think it is also critical for culture. as we see some of these changes after all of us. and amazon has this great opportunity. they are starting from scratch. do you think that is something that is realistic? >> i don't think there is any reason why this is impossible. a phenomenal pipeline of talented women at all levels, certainly, and all the way up through the pipeline. i am not sure why amazon is not bringing more diversity to the table. >> this amazing woman, so in why can't we find more? why isn't the demand finding the supply? >> the first is the topic of independent board members. it is a male dominated industry. seeking out operator point of view, independent board members are a great way to get diversity. the other issue is homogenous networks. one of the other thing the board list does is search for talent there might not be access to previously. there are great women across all verticals. >> where are you seeing progress,

wall street for consumer protection act should banks and others in the financial sector change their policy with regard to big data. i think this is a great opportunity to basically move this forward with a lot less risk because now they can basically you know it's about structured products it's about the things that were too hard to regulate part and now that the data is available there's you know there's firms like myself and many others that since the course of that time has passed has found out ways to get insight and intelligence out of data i think it will be a good thing for the industry i think will still be i think will still be safe but i think that the data dow is about is ready to be mined to be able to give everybody a little bit more breathing room to get money working again for people. should trim the see all pendle systems and most importantly the data wrangler thank you as always for joining us. thank you bart have a great day thank you. and time now for a quick break but hang here because when we return belgariad has a reoccurring pipe dream which may soon call the troops party correspondents now