Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Should you get that promo rate? Check out the fine print first Dec 17th
Some banks entice Canadians to open new accounts with the offer of a high but short-lived promotional interest rate. A generous interest rate might catch your eye, but there are a few things you should ask yourself before you sign up for a new chequing or savings account.
Should you switch bank a.... More »
A Decline in House Prices Could Lead to an Increase in Mortgage Defaults + MORE Jul 10th
The COVID-19 pandemic has had a profound impact on the Canadian economy. While the number of new cases is now trending in the right direction in many parts of the country, the economic carnage will continue to be felt for some time. One area that is being closely watched is the real estate sector. .... More »
Making sense of the markets this week: November 2 Oct 31st
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Big, juicy Canadian dividend stocks are on sale
In Canada, we now have the largest spread (in three decades) between Canadian bond yields and the Canadian high dividend inde.... More »
Canada’s banks should share some mortgage risk. It’s only fair + MORE Aug 16th
Risk-sharing would force the banks to stash away some funds to safeguard against more mortgages in bad times
.... More »
Retired RBC executive to chair new federal infrastructure bank + MORE Jul 7th
The federal government is hiring the former chief financial officer at one of Canada's largest banks to help oversee its new infrastructure-financing agency. Janice Fukakusa will chair the new board of the Canada Infrastructure Bank..... More »
Kerry's Peculiar Message About Iran for European Banks
– online.wsj.com
Why is Washington pushing banks like mine to do what is still illegal for American banks?New cyberattack made on bank, financial supervisor warns
– canadianbusiness.com
BRUSSELS – A new cyberattack has been made against an unnamed bank, part of a co-ordinated campaign that follows February’s theft of $101 million from the Bangladesh central bank, the international money transfer supervisor Swift said Friday.
Belgium-based Swift said Friday that attackers had used malware to target a PDF reader at a bank, which it did not name, allowing them to transfer money and tamper with bank documents.
It did not say whether any money was taken but urged clients to urgently review their security systems.
Swift said forensic experts believe the use of the malware is “not a single occurrence, but part of a wider and highly adaptive campaign targeting banks.”
It underlined that the Swift system, which connects more than 11,000 banking and securities organizations as well as other clients moving billions each year, had not been compromised by the malware.
Swift said “the attackers clearly exhibit a deep and sophisticated knowledge of specific operational controls within the targeted banks…
Belgium-based Swift said Friday that attackers had used malware to target a PDF reader at a bank, which it did not name, allowing them to transfer money and tamper with bank documents.
It did not say whether any money was taken but urged clients to urgently review their security systems.
Swift said forensic experts believe the use of the malware is “not a single occurrence, but part of a wider and highly adaptive campaign targeting banks.”
It underlined that the Swift system, which connects more than 11,000 banking and securities organizations as well as other clients moving billions each year, had not been compromised by the malware.
Swift said “the attackers clearly exhibit a deep and sophisticated knowledge of specific operational controls within the targeted banks…
