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Bitcoin has ‘few redeeming features’: Top central bank flames cryptos

Bitcoin has ‘few redeeming features’: Top central bank flames cryptos

The Bank for International Settlements says cryptocurrencies like bitcoin are tools for criminals and a waste of energy.

  • by Shane Wright

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Money laundering cop AUSTRAC to face grilling under new financial crime inquiry
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AUSTRAC

Money laundering cop AUSTRAC to face grilling under new financial crime inquiry

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has recently stung big banks with huge fines. But it is facing criticism that it is too reactive.

  • by Charlotte Grieve
CBA wraps up divestments with ‘soft’ $1b insurance sale

CBA wraps up divestments with ‘soft’ $1b insurance sale

Commonwealth Bank has sealed its last major deal to divest non-core businesses, but the price tag was softer than some expected.

  • by Clancy Yeates
Wall Street still hasn’t figured out how to make much money in China

Wall Street still hasn’t figured out how to make much money in China

Wall Street banks are struggling to make a dent in the world’s second-biggest economy.

Judo Bank’s valuation hits $1.9b, says float ‘an option’

Judo Bank’s valuation hits $1.9b, says float ‘an option’

Challenger lender Judo Bank has wrapped up a quick-fire $124 million equity raising to help fund its aggressive growth in the small business market.

  • by Clancy Yeates
Welcome to the revolution: meet the fintech founders disrupting super

Welcome to the revolution: meet the fintech founders disrupting super

While it started as a share trading site, Superhero founders John Winters and Wayne Baskin can’t wait to unleash it on the $3 trillion superannuation industry.

  • by Jessica Irvine
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Why the banks won’t touch bitcoin anytime soon
Opinion
Fintech

Why the banks won’t touch bitcoin anytime soon

A pillar of the global financial establishment recently revealed its view on cryptocurrencies: it is extremely sceptical.

  • by Clancy Yeates
‘Widespread impact’: Banks back online after nationwide tech outage

‘Widespread impact’: Banks back online after nationwide tech outage

Online banking services have resumed after an hour-long outage hit most major lenders and disrupted other websites, including the RBA and Virgin Australia.

  • by Charlotte Grieve and Tim Biggs
China escalates crackdown on $US1 trillion market

China escalates crackdown on $US1 trillion market

China’s crackdown on shadow banking is taking aim at more than $US1 trillion of opaque investments sold by banks as low risk and high yield, even while funds were channelled to riskier borrowers such as developers.

  • by Bloomberg News
‘More motivation’: ANZ cyber security boss warns against paying ransoms

‘More motivation’: ANZ cyber security boss warns against paying ransoms

Big four bank ANZ’s chief information security officer Lynwen Connick says meeting the demands of hackers only makes them bolder.

  • by Charlotte Grieve
REA aims to ‘significantly’ speed up mortgage approvals with $15m tech play

REA aims to ‘significantly’ speed up mortgage approvals with $15m tech play

REA chief Owen Wilson is betting the company can use its clout in real estate listings to grab a growing share of the mortgage broking market.

  • by Clancy Yeates