Powerbass News

From January to June 2011, £16.9m was lost in online banking fraud for UK-issued cards, down from £24.9m in the same period last year, the payments industry trade body said in a statement on Wednesday (PDF). These figures compare favourably to £39m lost between January and June 2009.

Online banking fraud can happen through phishing — where hackers forge emails or spoof websites in the hope of tricking users into divulging sensitive information. Other common banking fraud involves hackers sending infected ...

The Bank of Canada decided to hold off on rate hikes today after increasing rates by 25 basis points three times in a row. Why the sudden halt? Well, things aren’t going along as well as Carney had hoped. The US recovery is really a misnomer since there hasn’t been a meaningful recovery really. In addition, the recovery will be hindered by consumers and governments attempting to pay down debt ...