| Big U.S. banks vary widely on protecting consumers from fraud
Bank of America Corp. took top honors for the second year in a row in a report ranking the largest U.S. banks on how well they protect their customers from fraud and identity theft.J.P. Morgan Chase, Washington Mutual Inc. and Wells Fargo Co. tied for second place, and Citibank came in third in the study published by Javelin Strategy & Research.The study looked at 25 banks that together hold 50 percent of U.S. checking account deposits and counted only banks that have a brick-and-mortar presence. The study measured banks’ policies for preventing, detecting and resolving fraud, focusing on measures that consumers experience, not internal bank security policies. .
Financial News: No Hiding Place For European Banks
All eyes have been on the banking turbulence in the U.S., where first Stan O'Neal, chief executive of Merrill Lynch, and then Charles Prince, his counterpart at Citigroup, were made to walk the plank. Rarely have so many bank chief executives fallen in such a short period and don't believe this is the end of the bloodletting. Merrill Lynch and Citigroup shares may have been trampled underfoot but they were not alone in the U.S. Morgan Stanley's stock fell from a high of $90 to $ 52, a decline of more than 40%. Poor John Mack, chairman and chief executive, who was beginning to look as if he could walk on water, must have been devastated to realize the share price is barely higher than when he took over in summer 2005. Don't worry, John, because others in North America are feeling equal pain.
Botswana: Diamond Companies Become Sightholders
The Diamond Trading Company Botswana (DTCB) says all 16 diamond cutting and polishing companies registered in Botswana have met its criteria for supply and will become its sightholders for the next three years. DTC Botswana is taking over from the Botswana Diamond Valuing Company (BDVC), which will cease to run as a subsidiary of Debswana but will run along as its sorting, valuing, sales and marketing arm. .
How One Man Beat The Internet Scammers
SCOT Neil Forsyth got his revenge on swindlers who tried to bombard him with email scams and is now set for a best-seller about his adventures. For the book Delete This At Your Peril - One Man's Fearless Exchanges With The Internet, the 29-year-old Dundonian invented a bloke called Bob Servant, to frustrate and ridicule crooks who tried to rip him off. The email exchanges between Bob and the spammers led them to become more desperate, convinced they were just a few mouse clicks away from emptying his bank account. Here are just a few of the emails. FROM HIS ROYAL HIGHNESS JACK THOMPSON Dear sir, My father was a wealthy traditional ruler who was poisoned to death inTogo. Before he died he told me of £75m kept in a security company.
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