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System transforms disposable credit card information to electrical current and drives a magnetic card chip to simulate the behavior of a physical magnetic card

From large-scale data breaches such as the 2013 Target case to local schemes that use skimming devices to steal data at the gas pump, credit card fraud is becoming commonplace. The key challenge is that existing magnetic card readers use plain text to store confidential information, which makes them vulnerable to an untrusted card reader […]

Is there a bubble in the art market?

Researchers at the University of Luxembourg are warning of an overheating art market, one of the fastest-growing investment sectors of the past decade, after applying a new bubble detection method analysing millions of auction records. Few sectors of the market have rebounded as robustly as art — particularly contemporary art, which has doubled in value […]

Cyber thieves making millions in profits

Cyber thieves who steal credit and debit card numbers are making millions of dollars in profits, fueling a global criminal enterprise marked by the high-profile data breaches of major companies such as Target and Home Depot. Thomas J. Holt, Michigan State University criminologist and lead investigator of one of the first scientific studies to estimate […]

Many underestimate financial loss due to poor arithmetic

Anyone who has lost out on an investment in recent weeks — from pension funds and stocks to the housing rental market and currency exchange — may have lost more than they realise, according to new research from the University of Stirling. In a study involving five tests on almost 3,500 people, experts found that […]

Effectiveness of Federal Reserve emergency lending 2007-09

This week, the Federal Reserve hiked interest rates for just the third time in nine years. While many Americans know the Fed for its role in making monetary policy, it serves another lesser-known but hugely important purpose: providing temporary, short-term funds to banks as a “lender of last resort.” During the financial crisis from 2007-09, […]

Rewiring financial networks reduces systemic risk

A tax on systemically risky transactions could reshape financial networks into a new structure that is less vulnerable to cascading financial system shocks such as the 2008 financial crisis, according to new IIASA research published in the Journal of Economic Dynamics and Control. By taxing the transactions that create greater risk of network failure, the […]

Ivanka Trump forced to defend father at G20 women’s summit

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In executive order, Trump to dramatically change US approach to climate change

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Sheikh Mohammed: Dubai World Cup will be ‘No. 1’ again

Apple pie oat cake cake donut croissant tootsie roll halvah gummies. Tiramisu liquorice cake pudding brownie. Marzipan jelly-o bonbon gingerbread. Cheesecake biscuit halvah muffin. Soufflé fruitcake halvah caramels powder topping candy. Cake donut wafer candy apple pie danish gummies jelly-o. Carrot cake pudding brownie tart soufflé powder tart pastry. Croissant sugar plum sugar plum danish […]