BAE Systems has been tapped by the U.S. Department of Treasury to help protect the country's financial system against terrorist and other threats.
The work for the Treasury's Office of Terrorism and Financial Intelligence will include finance intelligence analysis and mission support and work with commercial financial institutions internationally to build and refine defense-grade, anti-money laundering technologies.
"Our financial crimes experts work alongside the government to investigate and track down illicit finance suspects at home and overseas," said Mark Keeler, acting president of BAE Systems' Intelligence & Security sector. "We have a deep understanding of the revenue streams and financial tactics used by terrorist networks and criminal organizations, which pose threats to our national security and could compromise international financial stability."
BAE Systems said that under the deal with the Department of Treasury it will compete for task order contracts to assist TFI in researching, analyzing, and documenting complex financial, trade, and other business activities in support of federal investigations and prosecutions.
"The maximum lifecycle value of all task orders to be awarded under the contract is estimated at $135 million," BAE said. "This work plays a critical role in enforcing the violations and sanctions programs administered by the Department of Treasury."
Alarm grows over global ransomware attacks
Security experts expressed alarm Friday over a fast-moving wave of cyberattacks around the world that appeared to exploit a flaw exposed in documents leaked from the US National Security Agency.
The attacks came in the form of ransomware, a technique used by hackers that locks a user's files unless they pay the attackers in bitcoin.
The scope of the attacks was not immediately clear, ami … read more
