Sarah Butcher
eFinancial Careers

Although banking and financial services regulation aren’t on the agenda, it seems that plenty of bankers and banks attend Bilderberg meetings on a regular basis. We’ve combed through attendee lists for the past five years and noted that some names and organisations appear repetitively. They are: Read More

Attorney General Has Been Lobbying for a Get-Out-Of-Jail Card for Big Banks and their Bosses for 14 Years

Everyone knows that Eric Holder – the head of the Department of Not-Much Justice – has said that the big banks are too big to jail. Read More

by Jon Brodkin

A criminal serving a five-year sentence “for supplying gadgets to an organized crime gang used to conceal ATM skimmers” has invented a device that prevents ATMs from being susceptible to such thefts, Reuters reported today.

Valentin Boanta, who is six months into his sentence in a Romanian prison, developed what he calls the SRS (Secure Revolving System) which changes the way ATM machines read bank cards to prevent the operation of skimming devices that criminals hide inside ATMs. Read More

By Tracy Kitten

Security experts say that OperationUSA, a coordinated online attack against banking and government websites slated for May 7, is a serious threat. As a result, organizations should be upping their distributed-denial-of-service attack mitigation strategies to guard against the attacks, which are being coordinated by the hacktivist group Anonymous. Read More

With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation “news” was the most unsurprising outcome for the nation’s financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed that Russians had been pulling their  money Read More

By Deon Roberts

A federal judge has dismissed nearly all claims against Bank of America and other major banks accused of rigging the interest rate commonly referred to as Libor. U.S. District Judge Naomi Reice Buchwald, of the Southern District of New York, issued the ruling Friday afternoon. Read More

By Nick Miller

”Very bad, very, very bad,” says 65-year-old John Demetriou, rubbing tears from his lined face with thick fingers. ”I lost all my money.”

John now lives in the picturesque fishing village of Liopetri on Cyprus’ south coast. But for 35 years he lived at Bondi Junction and worked days, nights and weekends in Sydney markets selling jewellery and imitation jewellery. Read More

By Alastair Jamieson

Banks in Cyprus will remain closed until Tuesday as the country tries to avert financial meltdown after rejecting the terms of a controversial bailout, turning instead to Russia for help.

An official said banks, which been shut for days amid fears of a run on savings, will stay closed on Thursday and Friday, CNBC and Reuters reported. Monday is a public holiday. Read More

South Korea was trying to figure out the cause of massive computer network failures at major TV stations and banks Wednesday, but nothing has been determined yet, including whether North Korea was involved in the suspected cyber attacks, government officials and police said. Read More

What’s a Clearing House?

When you swipe a debit or credit card at a retail checkout counter, there is a slight pause while the system verifies that your account actually has the money or your credit is available. The response comes back to the clerk as either approved or decline, letting them know how to proceed. Read More

Activist Post

Is Bitcoin now a safe haven currency?  It wasn’t long ago when it was considered merely an interesting crypto-currency to buy illegal drugs on Silk Road. Now, citizens all over Europe appear to be flocking to Bitcoin as the European finance vultures circle above.

Europeans woke up this week with a lot less confidence in their banking system after European finance chiefs and the International Monetary Fund announced their plan to steal from private bank accounts in Cyprus in the form of a one-time “wealth tax” to bailout insolvent banks. Read More

By John Ribeiro

Customers of JPMorgan Chase reported seeing zero balances in their accounts both online and on mobile, and speculated that the bank’s systems had been hacked into. The bank however clarified late Monday that it was having a technology problem regarding customers’ balance information that it was working to resolve. Read More

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By Adam Clark Estes

Gen. Keith Alexander, director of the National Security Agency, took the stand in front of the Senate Armed Services Committee on Tuesday and an ambitious expansion of the Pentagon’s Cyber Command. “We’ve seen the attacks on Wall Street over the last six months grow significantly,” Alexander told the senators, explaining that denial of service (DOS) attacks are the most common assault on banks’ websites. Read More

Those who have been following our exclusive series of the Fed’s direct bailout of European banks (here, here, here and here), and, indirectly of Europe Read More