accounts

The Commonwealth Bank of Australia confirmed on June 30, 2009 that its online banking service, NetBank, had been hit by Denial-of-Service attack, in which hackers send huge number of requests to a website thus overloading it to the point of collapse. However, the bank stated that there were no instances of customer accounts being hijacked.

U.S. credit card issuers, including Citigroup Inc, JPMorgan Chase & Co, and Capital One Financial Corp, are cutting reward programs, raising interest rates and increasing fees in order to cover their costs.

Not a long time ago Citigroup, the nation's largest credit card issuer, had been offering up to $100 in gift cards for enrolling in its "Thank You Rewards" program.

Since the last post on e-gold blog dated by October 19 numerous e-gold users have uploaded the required documents for verifying identity and residential address. However many of them noticed that they still have the following message in their accounts:

"Account Status: Spend Access Restricted"

Corporate America takes extra steps to detect and prevent fraud related to identity theft. It is also expected that American banks will develop better procedures to notify victims. It is the issue of their reputation and business quality. 

The new regulations against ID theft are known as the "red flag rules". They were authorized by the Fair and Accurate Credit Transactions (FACT) Act and were started a year ago.