Malware: New Android malware targeting banks in Italy, Spain, Germany, Belgium, and the Netherlands

A new Android trojan has been identified by security researchers, who said on Monday that once it is successfully installed in the victim's device, those behind it can obtain a live stream of the device screen and also interact with it via its Accessibility Services.

The malware, dubbed "Teabot" by security researchers with Cleafy, has been used to hijack users' credentials and SMS messages to facilitate fraudulent activities against banks in Spain, Germany, Italy, Belgium, and the Netherlands.

Read more at: New Android malware targeting banks in Italy, Spain, Germany, Belgium, and the Netherlands | ZDNet

The Netherlands: ING the second Netherlands bank to turn to negative savings interest

 Banking institution ING has become the second bank in the Netherlands to charge a negative interest rate on certain savings accounts. Customers will face a -0.50 percent interest rate for any amount in an account above one million euros, the bank said on Friday. The policy will affect about 6,400 current clients. The negative rate is charged per account, and not per customer.

Note Insure Digest: this is total nonsense and can not be justified in any logical way, except that it unfortunately qualifies as greed.

Read more at:
https://nltimes.nl/2020/01/31/ing-second-netherlands-bank-turn-negative-savings-interest

Privacy and Freedom in danger: A Cashless society will destroy freedom and privacy

Big btother is watching

Unfortunately, the time is fast approaching where our current technological snooping capabilities and the ease of  major data manipulation by the Government and the financial Industry will accelerate the arrival of a completely cashless society..  

This will happen in such a way as to permit governments to exercise incredibly powerful controls over all human behavior and activities.

While this may sound like a paranoid doomsday scenario to some, this theory is not only eminently possible, but most of the technology is already available to frighteningly make it a reality.

Technological advances have led to the creation of algorithms that can instantaneously review financial transactions, determining the nature, location and even the appropriateness of a purchase decision. These are already freely used by governments, banks, credit- and debit-card companies amd other financial institutions.

If these current trends continue, a cashless economy could thus very well lead to a complete evaporation of what we consider today as our basic Democracy and Human Rights. 

Imagine a future in which a government employee, who suspect an individual of some misconduct, or perhaps even that person's politics or speech unacceptable, could, with a few keystrokes on the computer, order all financial institutions to decline any withdrawal or payment from that individual, and freeze all other access to funds. 

Perhaps, in order to show a veneer of due process, this would need to be reviewed by a secret Kangaroo court that would approve 99.7 percent of all requests.

The final result is that the  targeted individuals and anyone supporting them could in fact be made to starve to death. 

When it comes to creeping state control in creating a cashless society, it is therefore no surprise to find France out in front. In the wake of last year’s terrorists attacks, the government has clamped down on the use of cash.

In the Netherlands depositing cash more than six times a year, even into your own personal account is penalized with a fee. All this without the Government lifting an eyebrow. 

In reality, cash is far too valuable to be given up lightly. In truth, the benefits of the abolition of cash is largely oversold and certainly not in the Public's favor.

EU-Digest 

Banking - the Netherlands: ING Q3 profit falls following Korean asset sale

ING Groep NV saw its third-quarter profit fall sharply after it booked a loss on the sale of operations in South Korea.

However the company's new chief executive said Wednesday profits on an underlying basis were stable and that the company is close to repaying rescue money it received from the Dutch state in times of crisis in 2008 and 2009.

Jan Hommen, the executive who stepped in after the bailouts to oversee ING's restructuring, retired on Oct. 1. His replacement, Ralph Hamers, said Wednesday that ING is "grateful" for the taxpayer money.

Net profit for the quarter was 101 million euros ($136 million), down from 659 million euros in the same period a year ago. During the quarter, it booked a 950 million euro loss on the sale of its South Korean insurance arm. Underlying profits, which exclude tax and one-time items, were 891 million euros, up 5.6 percent.

ING received 10 billion euros of state aid in 2008. It has been steadily shedding operations and repaying that debt, plus interest, ever since. On Wednesday it repaid 1.13 billion euros, leaving it with a remaining tab of 1.5 billion euros.

Read more: ING Q3 profit falls following Korean asset sale; new CEO says 'thanks' for 2008 state aid (11/6/13 4:07 am)