Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
"The two most common elements in the universe are hydrogen and stupidity", so goes a wise crack. The way the world is going in 2008, it looks like Debt and Fraud are going to the two most common elements in our lives. Never in economic and social history have these subjects taken so much of our daily lives. Even my school going son has he...
13 February 2008 /security /regulation
Retired Member
Having been on the road and transitioned through 4 continents since early January, I have spent many a recent hour in an airport lounge counting airplanes and people watching. With my wife and children left behind in good old "blighty" I've had plenty of time to ponder the current turmoil in the financial services industry. As I laid a...
08 February 2008 /regulation Trends in Financial Services
While the US (and the world) is groggily trying to get back on its feet after the mortgage sucker punch, the knockout punch seems to be flying in! The toxic sub prime home mortgage debt of USD 900 B may be overwhelmed by an acid rain of credit card debt pouring in. The US has more than a Trillion USD of credit card receivables that is largely secu...
03 February 2008 /regulation
So, the world's most sought after junket in Davos has come to a close. The economic bigwigs, CEOs, intellectual heavyweights have returned after a week of heavy duty deliberation on climate change, financial markets, sub prime, recession, emerging markets, and........... Among the many readable publications by WEF, my own favorite is the Global R...
01 February 2008 /regulation
Keith Appleyard IT Consultant at available for hire
Here we are over 2 months after the initial Child Benefit fiasco; you would think the HMRC would have introduced controls to accept encrypted media? The Information Commissioner just issued Marks & Spencer with an Enforcement Notice giving them until 1st April 2008 (ie only 2 months) to complete encryption of all their laptops http://www.ico....
01 February 2008 /security /regulation Whatever...
Gary Wright Analyst at BISS Research
In 2005 I attended an event where Nick Leeson provided an honest and forthright presentation of how he managed to create the dealing positions that eventually brought down Barings Bank. He consistently maintained that he could not have carried through his actions, which caused the loss, without the senior management's lackadaisical attitude or eve...
Alan Goodrich Regional Sales Manager at ERI
Seriously, those of faint disposition should have a cushion handy to hide behind! How often do we read about and debate the moral dilemma of mere mortals "playing God" in areas such as medicine, e.g. stem cell research, and physics, e.g. creating anti-matter – but do we ever have that debate in financial services? On the publicly availabl...
01 February 2008 /regulation Trends in Financial Services
On 5th March 1995 Dutch banking and insurance group ING bought Barings for £1 and assumed liabilities of over $600m. According to some McKinsey research presented by Mark Lawrence at a PRMIA event I attended in London on 18th December 2006, based on a sample of more than 350 operational loss events, normalized for industry performance, the decline ...
28 January 2008 /regulation Trends in Financial Services
Biff!! Bang!! Kerplunk!! -..... These would be annotations if a comic book artist were to draw a strip on last week's events in the financial markets. The industry now looks like how the Roman Army is shown after an encounter with Asterix and Obelix in the famous comic series! We had hardly got over our chills over 'Black Tuesday' - when we have a...
26 January 2008 /regulation /retail
Paul Penrose Head of Research at Finextra
This just in: January 2008, Incisive Media's annual Risk Awards black-tie dinner. "Last year was the most volatile since 1998, with rising delinquencies in the US subprime mortgage market causing banks to rack up billions of dollars in losses. Risk recognises those institutions that weathered the storm, and continued to provide liquidity and ...
25 January 2008 /regulation /wholesale
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