Australia’s major banks have teamed up with Israeli digital fraud detection startup, BioCatch, to launch a new anti-scam pilot project aimed at reducing fraudulent banking payments. BioCatch Trust Australia, the world’s first inter-bank fraud and scams intelligence-sharing network based on behavior and device data, will be used to assess whether customers of the Commonwealth Bank … Read more
In the competitive and fast-paced world of law, junior lawyers in London face an intense work culture as they are asked to clock in 70-hour work weeks to justify their impressive salaries. Many trainees report feeling as though they “haven’t seen sunlight in months” due to the relentless schedules required by some top law firms. … Read more
A data breach instantly puts the security of people’s information at-risk as it could end up in the hands of the wrong people. Standard Bank confirmed recently that they had suffered a data breach of financial and personal information of some of their clients. According to a report by the Daily Investor on 7 November … Read more
Republican Donald Trump surged ahead of Democratic Presidential Candidate Kamala Harris in one of the most highly anticipated US elections in the country’s history. Trump’s reelection as the 47th US President has already triggered a bullish wave in the US stock markets, as benchmark indices like the S&P 500, Nasdaq, and Dow Jones Futures gained … Read more
A unique case of identity theft has emerged, revealing how a determined scammer exploited an online bank’s verification process to steal a $52,000 loan, only to lose the entire sum to a cryptocurrency scam. ABC 7 News’s 7 On Your Side investigative team uncovered the details after receiving an anonymous package from Manila, Philippines. The … Read more
The Reserve Bank of Australia (RBA) has reported an accounting loss of AU$4.2 billion for the last financial year, exceeding total losses by AU$51 billion since the onset of COVID-19. RBA governor Michele Bullock announced the central bank incurred a loss of AU$4.2 billion, during 2023-24, recording its fourth consecutive year of accounting losses. The … Read more
Leo Lukenas III, a former Green Beret who made the challenging transition to investment banking, tragically passed away in May at just 35 years old. Lukenas, who had been working 100-hour weeks at Bank of America (BofA), died from “acute coronary artery thrombus”—a fatal blood clot in the heart. His death has sparked outrage over … Read more
South Africa has made a groundbreaking leap in digital finance, becoming the first country to benefit from Mastercard’s new real-time card payments system. This initiative, a first for the global payments giant, aims to boost financial efficiency by allowing banks to process transactions instantly. With this new system, merchants in South Africa will experience quicker … Read more
Senator proposes new bill to curb financial elder abuse. Alice Lin 80-year-old Alice Lin was tricked into wiring her life savings of $720,000 to an online scammer in August 2022. The grave situation made the Southern California widow contemplate suicide. However, Lin, who also takes care of her disabled son, decided to fight back for … Read more
The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers. The Office of the Superintendent of Financial Institutions says it will end the policy for lenders to apply the minimum qualifying rate to straight switches when uninsured mortgages are renewed at a different institution … Read more
