Fraud Cases in a Motor Detariffed System

I stumbled upon an article reporting a downward trend in car insurance premiums in England and would like to share some views on the trends reported.

Motor Detariffed Pricing

BACKGROUND
Motor insurance premiums are usually governed by a fixed rate (aka tariff) to ensure all vehicles on the road are adequately covered with insurance especially third party coverages. Third party coverages are legal liability on damages cause to other person or property.

In view of increasing claims incurred from a  fix pool of premium charged, some countries have opted to go detariff and allow the free market concept take reign.

"Swipe" Credit Cards - Part 2 - New System

In Part 1 I covered how & what made the US credit cards so vulnerable to fraud. More info at the link below

(http://levelnineatwork.blogspot.com/2014/05/end-of-just-swipe-it-credit-cards-part-1.html)

Below are some  factors affecting the adoption of new system.

"Swipe-It" Credit Cards Part 1 - Slow Adoption in U.S.

If you recall,Target Customers' Credit Card Info was compromised.  More info at the link below.

(http://levelnineatwork.blogspot.com/2014/01/40-mil-accounts-of-target-shoppers.html)

Its surprising that the most advance country in the world still utilises old magnetic strips for transactions.

Fast And Secure Transfers - F.A.S.T.

IBG short for Inter-Bank GIRO is a platform provided by Malaysian Electronic Clearing Corporation (MyClear) which is a subsidiary of Bank Negara Malaysia where funds can be transferred via various e-banking channels with a approval processes providing a paperless approach to modern banking.

Unconventional F.I. Products Part 2 - Post Offices & Tesco

This post discusses a few  banking products launched by a post office and a supermarket chain.

Unconventional F.I. Products - Part 1 - Cards

We buy movie tickets online/mobile, perform online transactions, pump gasoline with credit card. The concept is to introduce a faster & shorter process in everything we do. This post will discuss a few radical changes to your conventional ATM cards.

40 mil Accounts of Target Shoppers Hacked

News broke that 40 million accounts of Target shoppers were breached in a widespread hack.