47 Results from 2008
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
We all know how much of money and effort it takes to manage Operational Risk for a financial institution. The thousands of 'person-hours' of Risk, Compliance, IT, Operations, ete have to put in BCP, DR and the works to protect your business. On top of all the sweat and blood, you have the regulators breathing down your necks to check your state o...
31 August 2008 /security /regulation
I have been reading the news items on the volume of counterfeit notes surfacing in India. It looks like more than half a billion dollars worth of fake rupees are circulating around the country. The banking industry must be quaking in their boots on the volume of menace they carry. It is distressing to note the thumb sucking responses and comments ...
27 August 2008 /security /payments
One of the most intriguing features of the Internet is the amount of falsehoods flying around. A large proportion of emails and 'facts' sent to you or put up on sites are to put it nicely -'very economical with the truth'. I am sure this human behavioral trait of 'net lies' merits detailed study by psychologists. Part of the reason for this phenom...
24 August 2008 /regulation
I think Garanti Bank has outdone itself! This news item really set me thinking - http://www.paymentsnews.com/2008/08/garanti-bank-wi.html Garanti offers a contactless sticker that can be stuck on the back of your mobile and use it like any other contactless chip card. This sticker with a payment application chip is brilliant in concept and simplici...
19 August 2008 /payments
There is an intriguing news release over the weekend by American Express. The premium card issuer's subsidiary American Express Credit Corp has come out with a $ 2 billion note sale at a whopping yield of 425 basis points above comparable US Treasury securities. This yield is way above what investors have been demanding earlier. See http://www.b...
18 August 2008 /payments /regulation
It is amusing to see how the banking industry is snorting in relief that Citi Bank declared a 2Q 08 loss of 'only' $ 2.5 Billion. Things have come to such a pass that a bank like IndyMac going under has only elicited marginal interest. Just as social scientists declare '40 is the new 30', the banking gurus seem to say 'Billion is the new million'...
20 July 2008 /regulation /retail
I was reading this new report by US DOJ on how digital currencies are increasingly popular with money launderers(or is it laundries?) - http://www.usdoj.gov/ndic/pubs28/28675/index.htm The DOJ notes that digital currencies 'combine the intrinsic value of gold and other precious metals as well as the designated value of national currencies with the ...
11 July 2008 /payments /regulation
With the global food crisis raging on, it is time for countries and international organisations to think of creative ways to address the issue. Giving free rations is not a viable economic answer. Consumers reeling from price hikes don't need food aid; they need assistance on the pricing. One of the common solutions to address food inflation is i...
09 July 2008 /payments /regulation
Gasoline (or Petrol - depending on which side of the Atlantic you are) prices are biting so hard now that gas station owners and consumers are planning a rally to demonstrate their grievances. See press release http://www.prweb.com/releases/Gas/MasterCard/prweb1063174.htm Looks like oil prices are so pervasive in our lives that we can trace almost ...
01 July 2008 /payments /regulation
I am intrigued by the number of conferences and events on 'greening of financial services'. Unless I got it wrong, I am not sure if financial services is on the top 10 list of industries contributing to global warming. However, I am sure banks can contribute to 'carbon credits' by encouraging electronic access and cutting down on the tons of state...
22 June 2008 /security /regulation
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