324 million bucks fines out of 553 trillion bucks from derivative markets? What a joke! They should confiscate any remaining assets they have since this is a corruption charges and corruptor's asssets should be seized. Of course they can't do it since it's a banks, unless they want to let them bankrupt, which is impossible since they are 'too big t
This hacking and breaching central banks not only cost them money but also to show that the SWIFT system is a crap! Why hacker target them in the first place? It is to prove that those banks can't be trusted in the beginning and the intention is too expose the flaw in the banking system that has been fooling around the people all this time. I wish
30 days full attack! Well, three more weeks to go, I assume! Let's see who else has been taken down. So far the list above has report back that breach has occurred in their system. It would be interesting if the can get in to the federal reserve and ECB. I'm still waiting for that big moment in history!
Soon or later SWIFT and ACH will be obsolete. This is the reason on the need of stronger encryption along with the security feature that the blockchain has. Of course considering that most of the bank in the world running SWIFT system, it soon too must adapt. The question is when and when it's happen, people would think that why bother to have it i
Hey! That's a good news. I wonder how the city integrate it with their system. Of course this would make bitcoin price more stable in comparison with Swiss Franc. On the other hand, I also wonder which Swiss bank agree to it since you can't associate Switzerland without talking about its greatest secrets, the Bank!
Attorney Client privilege is a core concept of the legal system in the United States. The issue here is not that a law firm "keeps secrets" about its clients. The issue is that excessive taxes, or more importantly in many cases, excessive and burdensome reporting requirements inspire some to "keep secrets". It used to be "Swiss Bank" accounts, now
The bank was frugal on network security hardware spending and used second-hand routers that cost $10 to connect to global financial networks, Aha ha ha! A central bank with second hand 10 bucks router and no firewall? No wonder they're in trouble. I think they deserve it since they neglect to build a better cyber security system. What the heck wer
Editor's Note: This is an opinion piece by Andrew Quentson ; t he views and opinions expressed are those of the author. Since their inception, banks have been a systemic risk to the economic well-being of nations.
Although one may assume that the demand for privacy in Bitcoin and other blockchain-based systems is coming from crypto-anarchists and libertarians, the reality is that a huge push for concealing transactions on the blockchain is coming from the traditional financial industry. During a recent cryptocurrency event at the Cato Institute , Zcash