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4167 Results from /regulation

Retired Member

Retired Member 

What if banks were really fined based on income?

Thanks to Ian Wigman for this gem from WIRED magazine. A man in Switzerland was recently fined a record $290,000 for driving 85 mph in a 50 mph limit. (It was less before he pleaded his case!) The reason being in 2002 the Swiss replaced prison sentences for some offenses, with fines based on income. The driver in question has a reputed income o...

/regulation /sibos Financial Risk Management

Robert Siciliano

Robert Siciliano Security Analyst at Safr.me

Are Contactless Payment Methods Secure?

“Contactless,” in this context, refers to the use of a wireless device. A payment is contactless when, instead of inserting your credit or debit card, you hold your card or keychain device within a few inches of the terminal, and your payment information is sent and processed wirelessly. Contactless payments offer a faster and more convenient alte...

/security /regulation

Retired Member

Retired Member 

Victims of financial crime. Could you be next?

Did you know that according to a recent report from Javelin there’s a one in ten chance that money will be fraudulently withdrawn from your bank account? Face it. That means you have a good chance of being next. It’s not just about the bank’s reputation, but also yours. So what can you do about it? Talk to your bank and find out what preventative ...

/security /regulation

Robert Siciliano

Robert Siciliano Security Analyst at Safr.me

Scummy Scammers and Targeted Attacks

I make a portion of my living speaking professionally. That means I get on a platform and present in front of an audience on issues revolving around personal security and identity theft. So when I got this email, I was so happy to see I was being invited to England to speak to the esteemed Middlesex University in England. I had to shorten the dialo...

/security /regulation

Retired Member

Retired Member 

McKinsey say 90 percent of cost reduction programs fail

According to McKinsey: many cost-reduction programs are "illusory, short lived, and at times damaging to long-term value creation". Their research concludes that only 10% of cost reduction programs show sustained results three years later. Yes, you read that right: 90% of cost reduction programs fail. Read this blog to find the full Mc...

/regulation /retail Banking Architecture

Xavier Bellouard

Xavier Bellouard Co-founder at Quartet FS

US banks under increasing scrutiny

New regulation continues to be a top priority for banks with the regulators both here and in the US placing increasing scrutiny on bank’s risk management policies in an effort to avoid another financial crisis. A recent article in the FT highlights how the US regulators are clamping down even further, making banks perform tougher "stress test...

/regulation

Robert Siciliano

Robert Siciliano Security Analyst at Safr.me

Travel Security and Identity Theft Scams

Traveling for business or pleasure is hectic, unnerving, not at all glamorous and often draining. Often, we say we need a vacation after a vacation. And when traveling, the last thing you need is to be ripped off. Things to consider: Hotel Rooms Hotel rooms are not secure. Just last week I entered a hotel room with somebody else’s stuff laid out on...

/security /regulation

Retired Member

Retired Member 

The 8.9m FSA fine breaks new ground in AML enforcement

To date, most large fines for AML or sanctions violations have been accompanied by a juicy real story of Mexican drug traffickers, Russian mobsters, crooked politicians, terrorist supporters or rogue states being able to systematically funnel money to or through the financial institution. From the regulators’ perspective, this is the brilliance of...

/security /regulation

Retired Member

Retired Member 

FX efficiencies - go with a different flow

Average daily FX volumes are expected to rise from US$2.9 trillion in early 2009 to US$4 trillion this year, according to analyst house, Celent. With this increase we can also expect a significant increase in electronic trade volumes as the market is hit with higher numbers of smaller value trades. Moreover, we can also see spreads on major curren...

/regulation

Robert Siciliano

Robert Siciliano Security Analyst at Safr.me

Summertime Scams and Identity Theft

For everything in life, there is a corresponding scam. Scammers spend their energy trying to separate hardworking, law-abiding citizens from their money, and they’ll take advantage of any opportunity to do so. The four seasons provide various opportunities for scams. Summers “hottest” scams include: Stealing your mail. While you’re on vacation, yo...

/security /regulation

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