CREDIT CARD FRAUD AND THE LAW By A.L.R. JOSEPH SUBJECT: Banking‚ Criminal Law Malaysia [1993] 2 CLJ xii (Apr) Introduction To most consumers‚ credit cards are pieces of plastic - issued to them by their bank or retail shop which allow payment for goods or services - which give them prestige and flexibility. Further‚ they also provide a convenient avenue of obtaining on-the-spot cash. The credit card is a phenomenally successful development of modern banking and retailing based on technological
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Credit Cards Fraud Nowadays‚ computer technology is growing bigger and bigger. This tremendous and powerful improvement has its good and bad connotations. Credit cards are one popular invention of the computer era. According to www.1stamericancardservice.com‚ a credit card is a plastic card bearing an account number assigned to a cardholder with a credit limit that can be used to purchase goods and services and to obtain cash disbursements on credit‚ for
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Consumer Credit Scheme of Prime Bank Limited Executive Summary Internship is an essential part of BRAC universities BBA program. As per the requirement of the BRAC University I have to perform 90 days or three months internship which will help to prove my potentiality in the practical field. I achieved the opportunity to prove the potentiality‚ which has given by the Prime Bank Ltd. to commence my internship in the motijheel branch from 27th January to 27th April‚ 2009. As per the requirement
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Credit Analysis Credit analysis is a type of analysis which calculate the creditworthiness of a business by the bond portfolio manager. The analysis seeks to identify the appropriate level of default risk when a bank provides a lending to the business or individual (Credit Analysis ‚ n.d.). According to Weerasooriya‚ the three basic principles that lead to lending decision are safety of loan‚ suitability of loan purpose and profitability. The first principles is the safety of loan which refers
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a. Discuss the need for and uses of credit VaR models. b. Explain the main differences between DM and MTM models. c. What are the features of the main credit VaR models used in practice and how do they differ to each other? a) Value at Risk – I don’t think you have addressed the question by discussing about the need and uses of the model. Why people should choose VaR model (ROLES‚ USAGE‚ ADVANTAGE) and not how should they calculate. The discussion below is more towards the introduction
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Union Budget 2013-14 – A Critical Analysis Finance minister‚ P. Chidambaram presented his 8th and India’s 82nd Union budget on 28th February 2013. Key Highlights: * No change in slabs and rate for personal income tax. * Tax credit of Rs 2000 to be provided to every person to having income of up to Rs 5 lakh‚ this will benefit 1.8 crore people. * 5 to 10 per cent surcharge on domestic companies whose taxable income exceeds Rs 10 crore. * Commodities transaction tax levied
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A community-based human services organization is liked a uniquely approaching which the objective is meeting human needs through an interdisciplinary knowledge base‚ focusing on prevention as well as remediation of problems‚ and maintaining a commitment to improving the overall quality of life of service populations. It is a non-profit organization. Therefore‚ it heavily relies on secure and stable funding which comes from federal and provincial governments‚ donations‚ membership and user fees‚ etc
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ARE CREDIT CARDS REALLY HELPFUL? Money has always been an issue of extreme importance to everyone and especially to business-minded people who strive on having more and more of it in everyway possible. Ways to deal with finances in all its aspects have preoccupied the minds and legal thinkers of financial companies all over the world. In the late 1960’s‚ banks started introducing credit cards and this started a "credit card boom" that is continuing until now. There are so many types of
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Question: Differentiate between the collection function and recovery function of a financial institution. The collection function collects payments from accounts which are delinquent‚ that is those who make payments later than their contractual due date. This is happened when the loan not yet turns bad; the problem is not so serious. The recovery function collects money still owed on accounts after the financial institution has classified the account as non-performing or has written off the account
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Credit Rating Agencies Credit rating agencies play a crucial role in the financial system‚ and played an important one in the events that led to its near-collapse in 2008. The business is dominated by three firms – Moody’s‚ Standard and Poor’s and Fitch Ratings -- whose job is to provide an objective analysis of the risk posed to investors by bonds‚ companies and countries. During the housing boom‚ the system broke down‚ as several billion dollars worth assets‚ later shown to be worthless‚ received
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