google
Forget Credit Cards, Google’s Looking to Open Its Own Current Accounts

This year saw plenty of tech giants dabble in finance. Apple released its credit card, Facebook just launched Facebook Pay and is trying to get its Libra cryptocurrency off the ground, and now Google is reportedly mulling offering a financial product of its own – current accounts. Read More >>

facebook
US Lawmakers Warn Visa, Mastercard to Think Twice About Joining Facebook’s Cryptocurrency Scheme

As anxieties mount over Facebook’s plan to launch a cryptocurrency called Libra, US lawmakers are facing increasing pressure to intercede. This week, that intervention has taken the form of ominous letters by Democratic members of the powerful Senate Banking Committee, who warn payment service companies to “expect a high level of scrutiny” if they take on the risks of Libra. Read More >>

crypto
Sounds Like Things Aren’t Going Well for Facebook’s Libra Cryptocurrency Scheme

There’s been no shortage of official opposition to Facebook and dozens of corporate partners’ plans to launch a cryptocurrency powered global payment network, Libra. A short list of the wary might include the heads of the U.S. Federal Reserve and Treasury Department, the House and Senate banking committees, EU antitrust officials, Indian and Chinese finance officials, and the French government, which vowed to stop it in its tracks across Europe. Read More >>

internet
What Would Happen If the Whole Internet Just Shut Down All of a Sudden?

A world in which the internet suddenly stops: surely the TV show’s already in development. Sprawling cast, gorgeous visuals, tediously on-the-nose themes. Some handsome B-lister tearing around the country in pursuit of his wayward kids, or the shadowy sect that pulled the plug in the first place. A patch of prairie in Kansas with a weak but functional signal, people lining for miles to check texts, riots breaking out. Thankfully, we don’t have to wait for this show to be shot and streamed to get a decent idea of what the internet apocalypse might look like: for this week’s Giz Asks, we asked a number of experts to do the imagining for us. Read More >>

banking
Natwest Trials Voice Banking With Google Assistant and is Somehow Convinced it’s a Good Idea

Natwest is trialling a new way of doing internet banking that's essentially those annoying automated calls to your bank but with your Google Assistant instead. Read More >>

facebook
Facebook’s Libra Project is Getting Hammered From All Sides

Facebook’s already-troubled Libra cryptocurrency project, which has already run into significant opposition among the U.S. House Committee on Financial Services and the Senate Banking Committee, is running headlong into further resistance from regulators. Read More >>

banking
Metro Bank Assures Customers That it Has No Plans to Steal the Riveting Contents of Their Safety Deposit Boxes

West London customers were swept up in a panic after rumours sparked on WhatsApp groups telling Metro Bank customers that the contents of their safety deposit boxes were no longer safe, and to stampede their way to their local branch and withdraw their belongings immediately. So of course, that's exactly what they did. Read More >>

huawei
Report: Documents Show Extensive Huawei Ties to Suspected Fronts in Iran and Syria

Meng Wanzhou, the chief financial officer of Chinese tech giant Huawei and the daughter of its founder Ren Zhengfei, was detained in Canada late last year at the behest of U.S. authorities, who allege she oversaw a complex financial scam to violate nuclear sanctions on Iran. The incident has become a major source of tension amid the ongoing U.S.-China trade war – and according to a Tuesday report in Reuters, newly discovered corporate filings and other documents show the depth of Huawei’s ties to Iran as well as Syria. Read More >>

facebook
Facebook: Hey Can We Pretty Please Maybe Have Lots of Your Banking Information Too?

Facebook is looking to gobble up users’ financial information, including such tidbits as “card transactions and checking-account balances,” as part of its relentless effort to swallow up yet more of the web, the Wall Street Journal reported on Monday. Read More >>

money
Country People Can’t be Bothered With Your Urban Digital Banking Obsessions

People who live in the rural masses of the UK aren't so bothered about banking apps, according to the Financial Conduct Authority, which says that just 23 per cent of country folk bother to do their banking through a smartphone – whereas 45 per cent of their clean-shod urban counterparts do. Read More >>

security
Australian Bank Sends 10,000 Customers’ Data to Wrong Email Address for Dumbest Possible Reason

There are plenty of ways to unintentionally mishandle customer data. Storing information on an unsecured server, for instance, or being targeted by state-sponsored actors. But perhaps the most egregiously idiotic way to release confidential information is to send emails to the wrong domain name. That’s exactly what the largest bank in Australia did—more than 600 times. Read More >>

security
Major Bank Loses 12 Million Customers’ Data in the Most Embarrassing Way Possible

Just when you thought all data breaches amounted to hacker shenanigans, the largest bank in Australia has belatedly confirmed a different sort of breach story. BuzzFeed reports that the Commonwealth Bank lost 12 million customers’ data after magnetic tape backups containing their personal financial history from 2004 to 2014 went missing. It just lost them. They may have literally fallen off a lorry. And the bank didn’t even bother telling its customers about the incident. Read More >>

security
Researchers Unearth New Malware Designed to Make Cash Machines Spew Out Cash

Researchers have recently discovered new kind of “jackpotting” malware—the sole purpose of which is forcing cash machines to spit out huge volumes of cash. Read More >>

money
CES 2018: This Cellular-Connected Smart Credit Card Can Show You How Much Money You’ve Got Left to Spend

Unlike banks in the UK, where chip-and-pin and contactless payment technologies are the norm, big banks in the US have been very slow to adopt new credit and debit card technologies, with secure chip cards only being introduced in the past few years. Which is tragic, because Dynamics is introducing a new connected credit card with a cellular chip inside, and an E-Ink display, that’s no thicker than the cards already in your wallet. Read More >>

security
Researchers Just Developed a New Tool to Identify Security Holes in Banking Apps

Gone are the days of queuing up at the bank all day to get things done, because we have apps to do most of that stuff for us. When it comes to the bank, security is everything - regardless of whether we're talking about a vault or the electronic systems. The bad news is that no electronic system is 100 per cent secure, but the good news is that researchers have a semi-autonomous tool that can help identify them. Read More >>