Commonwealth Bank decided to impose a AU$3 fee for in-person cash withdrawals following the disclosure of the company's astounding AU$410 million in cash services expenditures for the fiscal year ending June 2024.
BioCatch Trust Australia will be used to assess whether customers of the Commonwealth Bank of Australia, National Australia Bank (NAB), ANZ Group Holdings, Westpac, and Suncorp Bank were legitimate or fraudulent.
RBA governor Michele Bullock announced the central bank incurred a loss of AU$4.2 billion, during 2023-24, recording its fourth consecutive year of accounting losses. The bank suffered shortfalls of AU$6 billion in 2022-23, a record AU$36.7 billion in 2021-22, and AU$4.3 billion in 2020-21.
The move follows Reserve Bank of Australia's (RBA) estimates that annual surcharges total around AU$1 billion per annum, with some estimates suggesting the figure could even touch the AU$4 billion mark.
Apart from St George, Westpac's other subsidiaries -- Bank of Melbourne and Bank SA -- were also affected by the blackout.
Investor and owner-occupier interest-only fixed rates have been slashed by up to 0.65 percentage points, while owner-occupier principal and interest fixed rates have been lowered by up to 0.50 percentage points.
One of the critical advancements in AI within fintech is its application in customer service. AI-powered chatbots and virtual assistants can now handle complex queries, enhance customer experience, and reduce operational costs.
Since its establishment, Cars4Us has become a trusted destination for buyers and sellers alike, offering a wide selection of quality pre-owned vehicles backed by industry expertise and exceptional customer service.
Payback specializes in assisting individuals all over the globe, and Australia in particular, in reclaiming their hard-earned money from deceptive schemes, providing a glimmer of hope in the face of financial devastation.
Bitcoin is now steadily trading below US$4,000 and has been constantly on a downward ride over the last year, losing more than half of its market capitalisation.
A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world.
Blockchains are considered appealing to most companies, especially those who deal with international transactions.
A recent World Bank report showed that Somalia has one of the most active mobile money markets in the world, outpacing most other countries in Africa.
The Commonwealth Bank of Australia will be refunding customers who were charged fees for no service.
The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other large currencies such as Ethereum and Ripple down more than 40%. So where does this latest bout of losses leave cryptocurrencies?
Recent research from economists at the United States Federal Reserve suggests this problem is not unique to Australia. If true, this supports the argument that larger financial institutions should be broken up or face more regulatory scrutiny.
There’s a common link between the many things that have promoted insecurity at work: the growth of franchising; labour hire; contracting out; spin-off firms; outsourcing; global supply chains; the gig economy; and so on. It’s money.
The fake banknotes are “quite distinctive” from the authentic ones.
The rapid price rise garnered attention from an increasing number of academics and investment advisers. Some have suggested that Bitcoin improves portfolio performance and can even be used as a potential “safe haven” asset in place of gold.
Unlike in markets for other assets such as stocks or bonds, cryptocurrency makes it much harder to uncover price manipulation and fraud.
The penalty fee is still subject to court approval.
ANZ Group Treasurer Rick Moscati, the Deutsche Bank and Citigroup, plus a number of individuals, will also be charged.
Commonwealth Bank has admitted to losing historical financial statements of almost 20 million personal accounts in a 2016 incident and decided not to make it public
When cryptocurrencies boomed in recent years, companies have started to venture into crypto mining to get a larger share of the pie.
Philanthropy and social work have the main objective of making the world a better place, particularly for the disenfranchised sectors of the society.
These three companies took advantage of the opportunities to venture into the cryptocurrency and blockchain scene.
Cryptocurrency hedge funds had a banner year in 2017, and it looks like the industry will continue to grow in the next few months.
KODAKcoin may have kick-started a wave of new corporate coins and Global Blockchain Technologies (CSE: BLOC; OTC: BLKCF) hopes to benefit.
The new Australian $50 has been revealed. On Thursday, the Reserve Bank of Australia released the design of the new banknote.
Apple has effectively shut down Westpac’s mobile banking keyboard app. The Australian bank will remove its Westpac Keyboard function on iOS in July after the US-based tech giant pulled the plug on it.
