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"And ye shall know the truth, and the truth shall make you free." - John 8:32
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Author:  Jim Kouri
Bio: Jim Kouri
Date:  October 13, 2008
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Economic Crisis: New Security Firm Headed by Former Chiefs of FBI, Secret Service

by Jim Kouri, CPP

With the current financial crisis revealing malfeasance and corruption within the financial and political arenas, many businesses are seeking to to initiate their own internal investigations to weed out corrupt business practices.

One such company that allows the private sector to investigate internal problems is IPSA International, Inc., an international risk advisory firm. Recently they announced the launch of their Asset Integrity Unit (AIU) in response to the growing global financial crisis. The AIU will be co-Chaired by IPSA's Chief Operating Officer, Greg Regan and Managing Director, Dennis Lormel.

The recognized deficiencies in recent lending practices have led to a catastrophic level of losses in the financial industry. These subprime and Mortgage Backed Securities (MBS) losses have in turn created a domino effect of increased delinquencies across all closed-end and revolving credit products. Financial institutions are finding themselves exposed to a growing number of overall credit based risks. IPSA's AIU has been created to assist financial institutions and government agencies in identifying the underlying risk profiles of these troubled assets and mortgage portfolios.

IPSA's co-Chairs of the AIU bring significant direct experience to this crisis. Greg Regan was formerly head of the Secret Service's Financial Crimes Division and was Senior Vice President for Fraud Management at GE Money where he developed operational risk assessment tools to evaluate large mortgage backed assets. Dennis Lormel was Chief of the Financial Crimes Section at the FBI, where the mortgage fraud unit reported. In that capacity, Dennis directed a multi-agency task force that proactively investigated the full range of mortgage frauds.

"The growing financial crisis demanded IPSA act quickly and set up a unit that specifically addresses the issues affecting our clients. While financial institutions and governments need to act decisively during this crisis, managing exposures to increased risk and fraud should not be overlooked. Our clients have asked our assistance in balancing their need for swift action with their fiduciary requirement of prudence," said Dan Wachtler, IPSA's President & CEO.

Greg Regan noted, "IPSA has very specialized and unique expertise developed through historic reviews of the subprime and MBS markets. We are dedicated to support the government and financial services industry efforts as they deal with this economic crisis. Our cadre of professionals from the financial industry, regulatory environment and federal law enforcement community make us uniquely qualified to address the numerous concerns caused by these devastating losses."

"Our team's experience with mortgage fraud, risk assessments and asset recovery will serve as valuable tools to both financial institutions and governments alike as we all work towards unraveling the issues impacting this crisis," said Dennis Lormel.

IPSA International, Inc. is an international risk advisory firm which provides clients in the corporate, financial and legal communities with high-end investigative consulting services. IPSA's preferred practice areas are: Anti-Money Laundering, Asset Location and Recovery, Intellectual Property, Fraud Investigation and Due Diligence services.

Jim Kouri
Chief of Police Magazine (Contributing Editor)

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Biography - Jim Kouri

Jim Kouri, CPP is currently fifth vice-president of the National Association of Chiefs of Police. He's former chief at a New York City housing project in Washington Heights nicknamed "Crack City" by reporters covering the drug war in the 1980s. In addition, he served as director of public safety at a New Jersey university and director of security for a number of organizations. He's also served on the National Drug Task Force and trained police and security officers throughout the country. He writes for many police and crime magazines including Chief of Police, Police Times, The Narc Officer, Campus Law Enforcement Journal, and others. He's appeared as on-air commentator for over 100 TV and radio news and talk shows including Oprah, McLaughlin Report, CNN Headline News, MTV, Fox News, etc. His book Assume The Position is available at Amazon.Com,, and can be ordered at local bookstores. Kouri holds a bachelor of science in criminal justice and master of arts in public administration and he's a board certified protection professional.

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