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Completely agree Peter.  This is either a very odd decision or a badly worded announcement.  Knowing the risk of doing anything is vital.  That knowledge should then be used to calculate the reward necessary to justify the risk.  If the reward looks unachievable, then the risk should not be taken.

Chase should at least pay interest on these sums to the people whose accounts were in error and, perhaps, double interest to those where the error was a negative amount. I make it about $136,000 a day at 0.1% on $50B

The latest Zoom update appears to have addressed a number of these concerns by making the default meetin settings very secure and removing some features that could be open to abuse.

Interesting article but I am not convinced even though I was working for Temenos at the time.  My experience of merging/integrating two systems is that, because the data models are inevitably different, one always ends up with a lowest common denominator system.  Using the Metavante experience to design new T24 modules rather than combining software would have worked, but would have been in danger of ending up with a US-centric system.  The advantage T24 has over most of the systems developed in the US is that it is truly international.

It's very innovative to use Unity for a banking app.  It would be interesting to know how they have made it sufficiently secure.

The mobile phone companies need to improve their procedures too.  My wife recently asked for a new SIM in a Vodafone store.  She was asked for her name and phone number.  No identity checks were done.  They did not even check that the phone she brought to the store had the number she quoted.

I think the Finextra member in the 24 June 11:19 post is describing Metro Bank's philosophy.  It will be interesting to see if they do clean up.

It is about time the Information Commissioner automatically fined organisations for data breaches.  Organisations should have strict liability to keep personal information safely.  A sophisticated con or hack should not be an excuse.  Too many organisations do not take security seriously and strict liability would concentrate the minds of directors.