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A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.
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Retired Member
Couldn't happen to you? Well, fraudsters stole $1 billion from nearly 500,000 Australians in 2007 alone. This year is proving to be a bumper year. A recent round of phishing attacks against Commbank customers could be bearing fruit for criminals. Something has been going wrong there and Commbank have had some serious issues with Netbank. Take the c...
09 July 2009 /retail
The FBI reports a significant jump in mortgage fraud in the previous year and some bad signs for this year. While perhaps not as great as many other frauds going on the results are not promising. According to the Federal Bureau of Investigation’s recently released 2008 Mortgage Fraud Report, mortgage fraud Suspicious Activity Reports (SARs) referr...
08 July 2009 /regulation
Twitter is on a few people's minds at the moment, and although it has tremendous potential as a communication tool and is still in it's primitive stages- twitter has provided some unusual insights into human activity. Some analysis of twitter following habits seem to show: 'Although men and women follow a similar number of Twitter users, men have ...
08 July 2009 /payments /retail
70 percent of all transactions in Australia and 75 percent of payments between $11 and $25 are made with cash. Customers may use credit cards for reasons such as an interest free period and loyalty programs may influence a quarter of credit card transactions. Credit cards are used for around 10% of payments. Debit cards are more popular accounting ...
01 July 2009 /payments /retail
I had to tell someone the web address of ebaday today. So I told them ebaday.com. Correctly responding to my information (100% literal) the listener typed it in and god forbid - without the WWW. That old WWW sure is useful, I mean, we might get the web confused with the AAA, cause were always typing AAA.somewere.com into our AAA browsers aren't we?...
30 June 2009
Paul Penrose Head of Research at Finextra
The Bank for International Settlements thinks that financial instruments should be classified like medicinal drugs to protect investors and prevent firms from excessive over-indulgence in potentially lethal or toxic products. "The safest securities would, like non-prescription medicines, be available for purchase by everyone," says the ba...
29 June 2009 /regulation
Well, the numbers are bad, but not altogether hopeless. The score on the Gallup Confidence in Banks poll in the NYTimes puts banks at 22, In 1979 they stood at 60. I expect that bankers themselves will always provide enough support for themselves to keep it at about 10, so there are still one or two consumers out there with some confidence in the ...
24 June 2009 /payments /retail
There are many issues to this current emergency need to restore identity, but I expect the ones that will most influence the outcome are cost and convenience. Trust is always at the forefront when it comes to people's finances and at the moment as far as I can see that trust rests firmly with the systems of government supporting the financial syst...
21 June 2009
This august group of heavy hitters should be able to solve the problems of identity in a flash. I wish them the best of luck, but I foresee another 'noble' failure. They do at least have some credibility with the admission that biometrics are 'bumometrics'. http://kantarainitiative.org/wordpress/ Perhaps they have spent the last year reading my bl...
19 June 2009
Nothing could illustrate the depression in the M&A markets more than the news that Christiano Ronaldo's £80 million transfer to Real Madrid ranked as the seventh largest deal in the whole of Europe last week. The preening footie star's move from Manchester United puts him in 31st position in the UK year-to-date M&A league tables compiled b...
16 June 2009 /wholesale
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