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Crime

Smile to pay … and cry for credit

There were two headlines recently that arrived side-by-side: Will telephone bank passwords become obsolete? Does my new biometric bank card really mean the death of the Pin? Neither headline is particularly news – voice recognition for telephone banking and biometric bank cards have been floating around for a decade (or two!) – but it is…

Is the internet of things our biggest future threat?

We talk a lot about cybersecurity, fraud and risk, but are we too complacent about it? We have all these stats and figures: According to Verizon’s 2018 Breach Investigations report, 92 percent of malware is still delivered by email. Out of the 1,300 IT security decision makers surveyed for cyberark Global Advanced Threat Landscape Report 2018, 56 percent said that…

Every $1 in $50 in the banks is laundered money (and maybe more)

I’ve made the comment many times that it is astounding that around $2 trillion is laundered through the banks of the world each year, up from $1.6 trillion in 2009. It’s about 2.7% of global GDP and $1 in every $50 traded through our banks is criminally driven, getting washed through the complex structures of the…

Crypto? It’s only illegal if we say it is

I haven’t blogged about cryptocurrencies and blockchain for a while, as it’s been a bit too much for a while. There’s massive coverage everywhere, but what’s the reality? The reality is that a lot of this is nascent change. There are young tycoons making millions, whilst naïve bandwagoners are losing millions. From a $20,000 end…

Banks charged dead people fees for a decade

Everywhere around the world, I find politicians and bankers in dodgy practices. It’s because power and money go together. We’ve seen this clearly in EU and USA with LIBOR, CDOs, PPI, bribes, parties, prostitutes and more, and I was reminded of it when seeing a presentation the other day by Platon. Platon is a world-renowned…

Why big banks fail

A good example of that big bank thinking I referred to yesterday is Santander, and an incident that I fumed about the other day. I usually make payments to EU companies via my business account, which pays no fees on EU payments as per PSD2 and SEPA principles. However, I paid a Polish company £86…

The lies spread by bankers about cryptocurrencies

I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals. The comment that was reported was the following: Chris Skinner, a financial technology author, said it was “complete rubbish” to suggest the main use of cryptocurrencies was criminal….

If you are struggling with debt, here’s some good advice

I’ve seen several friends suffering with mental health issues. Much of it is caused by stress with work but, equally, I’ve noticed that a lot of it has to do with stress with money.  Someone loses their job and only have savings that cover them for the shortest time. I‘ve seen several surveys that say…

bitcoin you say? Bah, humbug!

I’m not saying I’m always right. In fact, I love it when someone points out I’m wrong, and shows me why, because I learn something. So, I was particularly interested when in Sunday’s Guardian, I saw the headline Blockchain: hype or hope. It’s quite a good article, and talks about use cases in voting, provenance…

Money laundering is most likely to wash with your local estate agent

Someone pointed out to me that when I wrote about the wealth divide, a lot of the property investing is not your average John or Jane, but a lot of money launderers. I wrote a while ago  that there is $1.6 trillion of money laundered worldwide every year, and only 2% is caught. That leaves…

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