Cyberthieves exploit banks' faith in SWIFT transfer network

May 22, 2016

Cyberthieves exploit banks' faith in SWIFT transfer network

On Jan. 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over 10 days, Wells approved at least 12 transfers ...

Agreement signed for Harriet Tubman National Park in NY

Apr 24, 2016

Agreement signed for Harriet Tubman National Park in NY

A proposal to turn Harriet Tubman’s upstate New York home into a National Historical Park is moving ahead days after it was announced that the abolitionist would be featured on the $20 bill. The Citizen newspaper in Auburn, New York, reports that U.S. Attorney ...

Bangladesh seeks FBI's help in investigating central bank heist

Mar 19, 2016

Bangladesh seeks FBI's help in investigating central bank heist

Bangladesh has formally sought assistance from the U.S. Federal Bureau of Investigation to track down the cyber crooks who stole $81 million from its central bank’s U.S. account, the interior minister said on Saturday. Unknown hackers breached the computer systems of Bangladesh Bank in ...

Mar 4, 2016

From Schengen to 'Brexit,' risks to the euro are stacking up

It is not only European Central Bank stimulus that has the potential to hurt the euro. From the possibility that Britain might leave the European Union and the impact of refugees flooding the region, to concerns over the economic outlook and political turmoil in ...

Feb 4, 2016

Negative interest for retail depositors unlikely: Kuroda

Japanese banks are unlikely to apply negative interest rates to deposits held by retail customers, Bank of Japan Gov. Haruhiko Kuroda said Thursday. “Of course, the BOJ will consider additional monetary easing if necessary,” Kuroda told a House of Representatives Budget Committee meeting, showing ...

Jan 15, 2016

Italian woman wins right to convert lire hoard

An Italian woman who discovered millions of lire in an old chest of drawers has won the right to convert the hoard into euros after a court ruled that a 2011 deadline for exchanging the former currency was unconstitutional. Observers expect further cases to ...