4377 Results from /regulation
Retired Member
I'm sure it's okay really, and that it's just my lack of knowledge about the detail, but a conversation the other day meant I couldn't help wondering about the level of security we get with card readers, and there seems to be such a proliferation of them now. A friend of mine is now the 'proud' owner of four of the devices, sent to him by a number...
26 January 2009 /regulation Online Banking
Just in case your attention is elsewhere this Wednesday.... Would not want you to miss the 3rd Council of Europe Data Protection Day on Wed 28th January 2009 (what happened on the other two?) relating to everything from EU initiatives to the nitty-gritty such as my personal area of interest, document metadata removal. A timely blog last week from ...
26 January 2009 /security /regulation Information Security
Gary Wright Analyst at BISS Research
Its normal practice for financial services firms to immediately cut costs and budgets when a financial crisis hits. In my time working in banking I can remember on many occasions when some form of crisis appeared that the first reaction was to freeze expenditure, the next was to cut costs the third was to prioritise and then cut again. The finance...
26 January 2009 /regulation /sibos MiFID
...even for Northern Rock employees. There was an interesting debate on Question Time last night about the bonuses that are to be paid to Northern Rock staff. The views spanned the spectrum, from one delegate who said bonus schemes shouldn’t exist at all – anywhere - to a part-justification of the process. I say ‘part-justification’ because the...
23 January 2009 /regulation /retail Transaction Banking
Malicious software designed to snatch card data, insider trading on confidential information, hackers setting up phony accounts to divert millions...what do all these things have in common? Greed! Let’s be honest, people have been figuring out how to steal since the beginning. But in today's interconnected and interdependent world they're using...
22 January 2009 /security /regulation Financial Supply Chain
If you go back less than a working generation, a bank would lend money and then manage that loan through to complete repayment. If it had done its assessment properly, and if the customer was fortunate enough to not suffer any financial misfortune, at the end of the loan period it would have been satisfactorily repaid and both parties would have ...
19 January 2009 /regulation Transaction Banking
Incredible. As I indicated in a previous blog, I sent a letter to my bank seeking clarification about my credit standing with them after they had sent me a loan offer priced at the astronomical rate of 19.9%. I asked very clearly for a response that expressly addressed what had changed in my specific circumstances. You won't be surprised to hear ...
19 January 2009 /regulation /retail Online Banking
John Cant Managing Director at MPI Europe Ltd
If Murphy’s Law didn’t already exist, they would have had to invent it to help explain what has happened to the financial sector over the past six months or so. Over the years there have been many proverbs or sayings predicting the inevitability of disasters. However, it fell to one Edward Aloysius Murphy Jr. around 1949, whilst working on a serie...
19 January 2009 /regulation /wholesale Banking Architecture
I noticed an article in the Press today suggesting that the authorities were now considering creating a ‘bad bank’ (we already have more than one, but I know what they mean), into which could be placed up to £260 billion in toxic debts from the banks. The expectation is that this would free the banks to lend more by replacing those debts with cas...
14 January 2009 /regulation /retail Transaction Banking
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
The World Economic Forum has released its annual take on Risks our world carries in the new year. The Global Risks Report 2009 is a compulsive read in these turbulent times and not just for Risk professionals. You can download the report from: http://www.weforum.org/en/initiatives/globalrisk/index.htm The report suggests that the world may face ris...
14 January 2009 /regulation
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