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Warning over plans to microchip UK workers, bank begins testing

A leading British trade union is calling for the government to change laws in order to protect employees from ‘excessive surveillance’ following revelations that financial and other firms in the United Kingdom have started fitting their employees with microchips. The development comes amid concerns that bosses could use the technology… Read More

Barclays chairman John McFarlane to step down, Nigel Higgins appointed successor

John McFarlane is to retire from Barclays, where he served as Chairman for the past three years. He will be succeeded by Nigel Higgins, who is currently Deputy Chairman of Rothschild & Co, a firm he joined in 1982 as a graduate. Before taking up the position at Barclays,… Read More

Tax crackdown: Swiss exchange info on around 2 million accounts

Switzerland’s Federal Tax Administration (FTA) exchanged the details of 2 million financial accounts in its first year of participating in the global standard on the automatic exchange of information (AEOI). The FTA said it sent information on around 2 million financial accounts to the partner states and received information in… Read More
28th November 2018
AP — The ride-hailing service Uber has been fined the equivalent of nearly $1.2 million by British and Dutch authorities for failing to protect customers’ data during a cyberattack in 2016. Britain’s Information Commissioner’s Office said Tuesday it fined the company 385,000 pounds ($491,000) and Dutch… Read More
23rd November 2018
AP — China on Thursday rejected a U.S. government report that accuses Beijing of stepping up efforts to steal technology ahead of a meeting between Presidents Donald Trump and Xi Jinping. The Commerce Ministry dismissed the U.S. Trade Representative’s report as “new unwarranted accusations” and said… Read More
15th November 2018
A leading British trade union is calling for the government to change laws in order to protect employees from ‘excessive surveillance’ following revelations that financial and other firms in the United Kingdom have started fitting their employees with microchips. The development comes amid concerns that bosses could use the technology… Read More
9th November 2018
Anti-fraud campaigners are warning the public against publishing too much personal details about their lives on social media groups as fraudsters are garnering such data and using it to commit fraud. According to a Get Safe Online survey, 21 people are targeted every minute as a result of unwittingly ‘oversharing’… Read More
7th November 2018
AP — Chinese authorities have begun deploying a new surveillance tool: “gait recognition” software that uses people’s body shapes and how they walk to identify them, even when their faces are hidden from cameras. Already used by police on the streets of Beijing and Shanghai, “gait… Read More
7th November 2018
Hackers breached some HSBC (HSBA.L) customers’ accounts in the United States in October and accessed their information, the bank said in a regulatory filing on Tuesday. It was not immediately clear how many accounts were breached or whether any money was stolen. – By Lawrence White, Reuters, 7 November 2018. Read More
5th November 2018
Thousands of wealthy Moscow residents who subscribed to a regional internet provider have had personal data including names, home addresses and mobile numbers posted online. People affected by the high-profile data leak are all clients of Moscow-based internet provider Akado Telecom, a large telecommunications network owned by billionaire businessman Viktor… Read More
2nd November 2018
John McFarlane is to retire from Barclays, where he served as Chairman for the past three years. He will be succeeded by Nigel Higgins, who is currently Deputy Chairman of Rothschild & Co, a firm he joined in 1982 as a graduate. Before taking up the position at Barclays,… Read More
2nd November 2018
A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards. Senator Ron Wyden released a draft of legislation that would grant the Federal Trade Commission authority to write privacy regulations. Read More
31st October 2018
Switzerland’s Federal Tax Administration (FTA) exchanged the details of 2 million financial accounts in its first year of participating in the global standard on the automatic exchange of information (AEOI). The FTA said it sent information on around 2 million financial accounts to the partner states and received information in… Read More
Must Read

Money laundering: Ex-Birmingham City football club owner ordered to pay $43 million

A Hong Kong court has reportedly ordered Carson Yeung Ka-sing, the former owner of Birmingham City Football Club to pay up HK$338 million (US$43.2 million) worth of criminal proceeds. Prosecutors agreed with his lawyers for him to pay the money, which was less than the half of the HK$721 million… Read More

Australia’s Commonwealth Bank to book compliance costs of $216 million in first half

Commonwealth Bank of Australia (CBA.AX) said on Tuesday that it would book charges of A$300 million (170 million pounds/$216 million) that would be reflected in its first-half results ending December. The charges include a higher-than-expected compliance cost of A$100 million related to a quasi-judicial inquiry into Australia’s financial sector, the… Read More