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Singapore warns about trading on unregulated, online, platforms

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The Commercial Affairs Department (CAD) of the Singapore Police Force and Monetary Authority of Singapore (MAS) advise the public to exercise extreme caution when dealing with unregulated online trading platforms. Has World Investors Stock Exchange (WISE) rebooted?

BIScom Subsection:

Retail Securities

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Fake domain: Western Union

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A scam-spam has been received from the fake internet domain WESTEMUNION.COM

(see update, below)

BIScom Subsection:

Risk Management

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Mass email fraud for UK bank TSB

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It's a stupid name: TSB is an acronym for Trustees Savings Bank and then some idiot, years ago, decided to add "Bank" to the acronym, in a move that rivals the equally stupid "ATM machine." But that's not the reason this heavy-duty spam-scam mailout is an obvious fraud. Warning: the content is highly plausible and the mail constructed to avoid even aggressive anti-spam filters.

BIScom Subsection:

Risk Management

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Australian federal Judge says Westpac acted "against commercial conscience."

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Yesterday, we were supportive of Westpac in a case where adverse social reaction did not take account of the realities of the case. Today, they are getting a well deserved kicking from Beach, J in the Australian High Court. His Honour's language bordered in the intemperate in his obvious anger.

BIScom Subsection:

Institutional banking

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Westpac criticised for enforcing guarantee

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In Australia at present, there is a culture of attacking banks no matter what. Any handy stick can be used to beat them with. A case involving Westpac and a seriously ill disabled woman demonstrates that the craze has gone too far.

BIScom Subsection:

Commercial finance

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The roll-back of Dodd-Frank reforms should raise the USA's risk profile

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As the US bill to roll-back the Dodd-Frank reforms that were designed, amongst other things, to stabilise banks to protect them from failure is sent to the President, who promoted it, for signature, BankingInsuranceSecurities.com points out one statistic that might indicate how successful Dodd-Frank has been and why the changes increase the USA's risk profile.

BIScom Subsection:

Regulation

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Credit card companies should beware of payments to Skype.

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If a little shop told its customers that they could have a special offer that cost x, then denied them when they arrived, then told them the price was actually 15% more than x, then when the bill arrived it was for a further 20%, credit card companies would be deluged with complaints and chargebacks. But that is exactly what Microsoft's Skype does, as Nigel Morris-Cotterill demonstrates.

BIScom Subsection:

Credit cards

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Australia's ASIC and "enforceable undertakings."

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Australia's Royal Commission into financial services has criticised the Australian Securities and Investment Commission (same word, different meaning) in relation to so-called enforceable undertakings. There is a problem but in part it's caused by factors outside ASIC's control.

BIScom Subsection:

Enforcement

Regulatory Notices

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