Online bank fraud plunges

Online banking fraud has fallen by 67% during the first six months of 2007 compared to the same period last year, according to UK payments association Apacs, reports ZDnet.co.uk.

However, plastic fraud on UK-issued cards went up by 26% during the six months to June, and card fraud committed overseas on UK-issued cards shot up by 126%.

Apacs said the introduction of chip and PIN has made it harder for criminals to commit card fraud in the UK, forcing them to go abroad where the technology is not in place. It predicts this problem will be tackled as more countries roll-out chip and PIN technology.

There are approximately 100 operational commercial banks, financial institutions and foreign bank representative offices in Vietnam and only 15% of them have invested in core banking, says Vietnam Economy.

In the past, clients had to make deposits and withdraw money at the same transaction point, with transactions at different points of the same system impossible. They even had to open many accounts to make transactions at different points.

Techcombank, ACB and Sacombank, the biggest banks in Vietnam, have been investing heavily in modern core banking which can help make breakthroughs in providing banking services.

Credit Suisse is creating a unified, global IT infrastructure using BEA WebLogic Server and BEA WebLogic Portal, says CNNMoney.com.

This strategic programme, named One Bank, is an important step in the Swiss bank's transformation into an international financial services provider.

The project is focused on the roll-out of the Java Application Platform in Europe, Asia and the US. With this project, Credit Suisse plans to achieve competitive advantages for its IT-based services and products.