Feeds

World Bank bans India outsourcer Satyam for 8 years

No longer friends with 'improper benefits'

SANS - Survey on application security programs

The World Bank has barred India's Satyam Computer Services – the aid institution's largest software vendor and India's fourth-largest outsourcing company – from doing business with it for eight years.

On Tuesday, World Bank confirmed earlier reports of the ban in a statement that said Satyam had provided "improper benefits" to bank staff and failed to "maintain documentation to support fees charged for its subcontractors."

The decision was made effective in September and was made after a temporary suspension of Satyam that took effect in February.

News of the barring was first reported in October by Fox News, which further alleges World Bank investigators discovered spy software installed by one or more Satyam contractors on workstations in the bank's Washington DC headquarters.

The World Bank denies these claims, stating "there is no evidence that Satyam was involved in malicious attacks on the Bank's information systems."

Satyam began contract work for the World Bank in 2003, maintaining software across all its locations and back-end office support.

The Hyderabad-based company has its work cut out to restore its reputation. Satyam was recently forced by an investor revolt to call off a $1.6bn acquisition of two construction firms partially owned by Ramalinga Raju and his family.

UK mobile payments company Upaid Systems is also suing Satyam on charges of fraud, forgery and breach of contract. ®

SANS - Survey on application security programs

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.