The 5 best US states to live in, according to US News & World Report

Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. Geography can have a major impact on your career, earnings and quality of life. Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity. The resulting Best States of 2019 list reflects the states that offer


Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. Geography can have a major impact on your career, earnings and quality of life. Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity. The resulting Best States of 2019 list reflects the states that offer
The 5 best US states to live in, according to US News & World Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: abigail hess
Keywords: news, cnbc, companies, ranking, highquality, report, stability, live, states, according, healthcare, infrastructure, world, public, education, best


The 5 best US states to live in, according to US News & World Report

Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. “pop.” Geography can have a major impact on your career, earnings and quality of life.

Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity.

U.S. News ranks each state from one to 50 — with one being the best and 50 being the worst — across each of these eight categories and then uses a weighed average to create a final ranking of the best places to live in the country.

The resulting Best States of 2019 list reflects the states that offer residents public safety and just corrections programs, strong employment and growth, high-quality public education, clean air and water, long and short-term financial stability, access to high-quality healthcare as well as robust energy, internet and transportation infrastructure. U.S. News also calculated opportunity based on variables like cost of living and economic equality.

Here is are the top five states on U.S. News’ Best States of 2019 ranking:


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: abigail hess
Keywords: news, cnbc, companies, ranking, highquality, report, stability, live, states, according, healthcare, infrastructure, world, public, education, best


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Trump aims to drive Iran’s oil exports to zero by ending sanctions waivers

He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond


He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond
Trump aims to drive Iran’s oil exports to zero by ending sanctions waivers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


Trump aims to drive Iran's oil exports to zero by ending sanctions waivers

Saudi Arabia and UAE have assured the U.S. they will ensure the market has an “appropriate supply,” Pompeo said. He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive.

The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand.

The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Monday.

“In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy,” Falih said in a statement.

Following Washington’s official announcement, Trump tweeted that Saudi Arabia and other OPEC members will “more than make up” for any drop in Iranian supplies.

Three of the countries that received the exemptions — Greece, Italy and Taiwan — have already cut their imports from Iran to zero. However, analysts widely expected the Trump administration to extend the waivers to China, India, Japan, South Korea and Turkey, all of which took advantage of the waivers during the first six-month window that began in November.

Companies in those countries now face the threat of being locked out of the U.S. financial system if they continue to import crude from Iran. The question is whether some of those countries will seek to skirt the sanctions, including by facilitating or encouraging purchases of Iranian crude through companies not tied to the U.S. financial system.

China’s Foreign Ministry on Monday denounced Washington’s Iran policy.

“China opposes the unilateral sanctions and so-called ‘long-arm jurisdictions’ imposed by the US. Our cooperation with Iran is open, transparent, lawful and legitimate, thus it should be respected,” Foreign Ministry spokesperson Geng Shuang told reporters.

“Our government is committed to upholding the legitimate rights and interests of Chinese companies and will play a positive and constructive role in upholding the stability of global energy market.”

Turkish Minister of Foreign Affairs Mevlut Cavusoglu also rejected the sanctions, saying they “will not serve regional peace and stability” and would hurt the Iranian people.

Dialing up pressure on Iran threatens to spark maritime conflict in the Persian Gulf. Iran has long threatened to shut down the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, if it is prevented from exporting oil.

On Monday, Iranian officials renewed those threats.

“According to international law, the Strait of Hormuz is a marine passageway and if we are barred from using it, we will shut it down. In case of any threat, we will have not even an iota of doubt to protect and defend the Iranian waters,” Rear Admiral Alireza Tangsiri, commander of the Islamic Revolution Guards Corps’ Navy, told the al-Alam news channel, according to Iran’s semi-official Fars news agency.

Earlier this month, the Trump administration designated Iran’s Islamic Revolutionary Guard Corps a terrorist organization, marking the first time the U.S. has applied the designation to a foreign country’s military.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


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Analyst Dick Bove: The war is over and the bankers have won

The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more. What emerged instead was a series of questions on multiple subjects with no unifying theme. These are men and women who either had been bankers or who are strong supporters of the industry. The stringent regulations that have been restricting banking for a dec


The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more. What emerged instead was a series of questions on multiple subjects with no unifying theme. These are men and women who either had been bankers or who are strong supporters of the industry. The stringent regulations that have been restricting banking for a dec
Analyst Dick Bove: The war is over and the bankers have won Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: richard x bove, shannon stapleton
Keywords: news, cnbc, companies, likely, bove, emerged, dick, questions, banking, analyst, banks, instead, financial, bankers, hearing, war, stability, won


Analyst Dick Bove: The war is over and the bankers have won

The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. It requested the presence of the top CEOs to field questions on their finances. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more.

What emerged instead was a series of questions on multiple subjects with no unifying theme. What emerged was a clear understanding that there would be no meaningful banking legislation for the foreseeable future. Instead the bureaucrats in the banking regulatory sector would be “running” the banks. These are men and women who either had been bankers or who are strong supporters of the industry.

The banks and their investors had won. The only banking news that is likely to emanate from Washington, for the next few years, is going to be positive for the industry. The stringent regulations that have been restricting banking for a decade are likely to be loosened. From my perspective, this will be good for the nation and its economy.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: richard x bove, shannon stapleton
Keywords: news, cnbc, companies, likely, bove, emerged, dick, questions, banking, analyst, banks, instead, financial, bankers, hearing, war, stability, won


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Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed


Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed
Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


Cryptocurrencies are 'clearly shaking the system,' IMF's Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund.

Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents.

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she said.

The IMF boss warned that such financial industry changes must be accompanied by regulation.

“We don’t want innovation that would shake the system so much that we would lose the stability that is needed,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


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Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed


Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed
Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


Cryptocurrencies are 'clearly shaking the system,' IMF's Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund.

Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents.

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she said.

The IMF boss warned that such financial industry changes must be accompanied by regulation.

“We don’t want innovation that would shake the system so much that we would lose the stability that is needed,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


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Analyst behind bearish bitcoin note predicts comeback

The J.P. Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn’t ruling out renewed interest. Nikolaos Panigirtzoglou wrote on December 15 that participation by financial institutions in bitcoin trading was fading. According to Panigirtzoglou, the firms should renew interest in crypocurrencies as stability grows. “The cryptocurrency market was a new market. “The big obstacle is regulators right now,” Panigirtzoglou said, adding that regulatory oversigh


The J.P. Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn’t ruling out renewed interest. Nikolaos Panigirtzoglou wrote on December 15 that participation by financial institutions in bitcoin trading was fading. According to Panigirtzoglou, the firms should renew interest in crypocurrencies as stability grows. “The cryptocurrency market was a new market. “The big obstacle is regulators right now,” Panigirtzoglou said, adding that regulatory oversigh
Analyst behind bearish bitcoin note predicts comeback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: stephanie landsman, bukharova, getty images, artur widak, nurphoto, brendan mcdermid, ryan garza, detroit free press, tribune news service, david a grogan
Keywords: news, cnbc, companies, bearish, trading, note, panigirtzoglou, stability, participation, predicts, analyst, interest, firms, cryptocurrency, comeback, right, market, bitcoin


Analyst behind bearish bitcoin note predicts comeback

Bitcoin fever could return to Wall Street.

The J.P. Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn’t ruling out renewed interest.

Nikolaos Panigirtzoglou wrote on December 15 that participation by financial institutions in bitcoin trading was fading. On Tuesday, he said on CNBC’s “Futures Now” that the situation is likely temporary.

According to Panigirtzoglou, the firms should renew interest in crypocurrencies as stability grows.

“The stability that we are seeing right now in the cryptocurrency market is setting the stage for more participation by institutional investors in the future,” he said. “The cryptocurrency market was a new market. It went through a bubble phase [and] the burst.”

He expects the firms will begin re-entering the space as the importance of blockchain — the digital system that records cryptocurrency transactions — grows.

However, Panigirtzoglou contends it could be years away.

“The big obstacle is regulators right now,” Panigirtzoglou said, adding that regulatory oversight is a “bit slow to realize.”

During bitcoin’s epic breakout year in 2017, it soared to $19,783.21. This week, it’s been trading just under $3,500, a 140 percent plunge from its all-time high.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: stephanie landsman, bukharova, getty images, artur widak, nurphoto, brendan mcdermid, ryan garza, detroit free press, tribune news service, david a grogan
Keywords: news, cnbc, companies, bearish, trading, note, panigirtzoglou, stability, participation, predicts, analyst, interest, firms, cryptocurrency, comeback, right, market, bitcoin


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Saudi Arabia promises full support for Lebanon after Qatar offers aid package

Saudi Arabia is prepared to do all it can to prop up Lebanon’s ailing economy, the country’s finance minister told CNBC, but stopped short of providing any specific details. His comments come less than 24 hours after Qatar said it planned to buy $500 million worth of sovereign bonds to shore up Beirut’s battered bond market. “We are interested to see stability in Lebanon and we will support Lebanon all the way,” Mohammed Al-Jadaan said at the World Economic Forum (WEF) in Davos on Tuesday. “We a


Saudi Arabia is prepared to do all it can to prop up Lebanon’s ailing economy, the country’s finance minister told CNBC, but stopped short of providing any specific details. His comments come less than 24 hours after Qatar said it planned to buy $500 million worth of sovereign bonds to shore up Beirut’s battered bond market. “We are interested to see stability in Lebanon and we will support Lebanon all the way,” Mohammed Al-Jadaan said at the World Economic Forum (WEF) in Davos on Tuesday. “We a
Saudi Arabia promises full support for Lebanon after Qatar offers aid package Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: natasha turak, sam meredith, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, stability, wef, arabia, tuesdaywe, worth, way, told, lebanon, aid, sure, promises, qatar, world, saudi, package, support, offers


Saudi Arabia promises full support for Lebanon after Qatar offers aid package

Saudi Arabia is prepared to do all it can to prop up Lebanon’s ailing economy, the country’s finance minister told CNBC, but stopped short of providing any specific details.

His comments come less than 24 hours after Qatar said it planned to buy $500 million worth of sovereign bonds to shore up Beirut’s battered bond market.

“We are interested to see stability in Lebanon and we will support Lebanon all the way,” Mohammed Al-Jadaan said at the World Economic Forum (WEF) in Davos on Tuesday.

“We are also determined to making sure that we play our role as a catalyst of stability in the region,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: natasha turak, sam meredith, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, stability, wef, arabia, tuesdaywe, worth, way, told, lebanon, aid, sure, promises, qatar, world, saudi, package, support, offers


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Former Fed economist Nellie Liang withdraws her nomination for central bank’s board

Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of Governors, citing concern over a lengthy Senate confirmation process. President Donald Trump, who has criticized the central bank for raising interest rates, nominated Liang in September. Liang, who established the Fed’s Division of Financial Stability in 2010, left the central bank two years ago to join the Brookings Institution think tank. “We supported her nomination


Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of Governors, citing concern over a lengthy Senate confirmation process. President Donald Trump, who has criticized the central bank for raising interest rates, nominated Liang in September. Liang, who established the Fed’s Division of Financial Stability in 2010, left the central bank two years ago to join the Brookings Institution think tank. “We supported her nomination
Former Fed economist Nellie Liang withdraws her nomination for central bank’s board Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, banks, feds, nellie, economist, central, fed, financial, house, left, nomination, liang, white, board, stability, reserve, withdraws


Former Fed economist Nellie Liang withdraws her nomination for central bank's board

Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of Governors, citing concern over a lengthy Senate confirmation process.

“I have decided to withdraw my name from consideration to be a member of the Board of Governors of the Federal Reserve because the likelihood of a prolonged process could have left me in professional limbo for too long,” Liang said in a statement.

President Donald Trump, who has criticized the central bank for raising interest rates, nominated Liang in September.

Liang, who established the Fed’s Division of Financial Stability in 2010, left the central bank two years ago to join the Brookings Institution think tank.

“We supported her nomination and believe she would have made a good Governor,” White House spokeswoman Lindsay Walters said in a statement.

As head of the Fed’s increasingly influential financial stability office, she helped develop the policies put in place after the 2008 financial crisis that many Republicans have hoped to lighten.

At the time of the nomination, two White House officials told Reuters that Liang had a strong background on financial and monetary stability, including crisis response, and was considered a good fit for the Fed board.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, banks, feds, nellie, economist, central, fed, financial, house, left, nomination, liang, white, board, stability, reserve, withdraws


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Hyundai unveils walking car design that has ‘limitless’ possibilities

“Sticking with four wheels might lead to some stability issues when ‘walking,'” he told CNBC via email. “When two of the legs are lifted, the car could have balance issues with only two remaining wheels planted on terra firma. “The ultimate challenges … are uncertain parameters of terrain and ensuring the dynamic stability of the vehicle,” he said. “For example, in a realistic terrain, the vehicle may be challenged by regions causing tip-over, trapped wheels, or loss of traction. Montazeri added


“Sticking with four wheels might lead to some stability issues when ‘walking,'” he told CNBC via email. “When two of the legs are lifted, the car could have balance issues with only two remaining wheels planted on terra firma. “The ultimate challenges … are uncertain parameters of terrain and ensuring the dynamic stability of the vehicle,” he said. “For example, in a realistic terrain, the vehicle may be challenged by regions causing tip-over, trapped wheels, or loss of traction. Montazeri added
Hyundai unveils walking car design that has ‘limitless’ possibilities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: chloe taylor, hyundai motor uk
Keywords: news, cnbc, companies, design, limitless, terrain, issues, regions, noted, possibilities, stability, told, concept, wheels, car, system, unveils, hyundai, vehicle, walking


Hyundai unveils walking car design that has 'limitless' possibilities

However, Michael Whiteley, head of fuel cell engineering at UCL’s Electrochemical Innovation Lab, noted that while it was good to see Hyundai pushing boundaries, it was unlikely the Elevate concept would become a reality anytime soon.

“Sticking with four wheels might lead to some stability issues when ‘walking,'” he told CNBC via email. “When two of the legs are lifted, the car could have balance issues with only two remaining wheels planted on terra firma. Will we see this in the future? Possibly not in the near future. The concept is a great idea, and may very well evolve over time – (but) I don’t think that we are quite ready for this yet in terms of system cost and the feasibility issues of implementing such a vehicle to terrestrial application.”

Allahyar Montazeri, lecturer in engineering at Lancaster University, told CNBC via email Wednesday that the proposed design could take vehicle use in rough terrain to “the next level” – but he noted that the mechanics were complex.

“The ultimate challenges … are uncertain parameters of terrain and ensuring the dynamic stability of the vehicle,” he said. “For example, in a realistic terrain, the vehicle may be challenged by regions causing tip-over, trapped wheels, or loss of traction. Some regions are not traversable at all and others may cause disastrous system failures.”

Montazeri added that the concept demanded an advanced design, incorporating elements of artificial intelligence to analyse potentially dangerous terrain with minimal action from the vehicle’s operator.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: chloe taylor, hyundai motor uk
Keywords: news, cnbc, companies, design, limitless, terrain, issues, regions, noted, possibilities, stability, told, concept, wheels, car, system, unveils, hyundai, vehicle, walking


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NGO says regulators can’t stop high-tech fraudsters by themselves

Regulators are behind the curve in the fight against cybercrime in the digital economy and can’t stop high-tech fraudsters alone, says an NGO official and former chairman of the Monetary Authority of Macau. “Regulators worldwide have to do something about it, but they can’t do it alone,” Teng said. “They have to work with the industry, the banking sector as well as the technology companies, to come up with good solutions to address this problem.” Cybercriminals exploit new openings as regulators


Regulators are behind the curve in the fight against cybercrime in the digital economy and can’t stop high-tech fraudsters alone, says an NGO official and former chairman of the Monetary Authority of Macau. “Regulators worldwide have to do something about it, but they can’t do it alone,” Teng said. “They have to work with the industry, the banking sector as well as the technology companies, to come up with good solutions to address this problem.” Cybercriminals exploit new openings as regulators
NGO says regulators can’t stop high-tech fraudsters by themselves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: andrew wong
Keywords: news, cnbc, companies, regulators, ngo, worldwide, fraudsters, technology, cant, industry, work, digital, teng, stability, stop, financial, hightech


NGO says regulators can't stop high-tech fraudsters by themselves

Regulators are behind the curve in the fight against cybercrime in the digital economy and can’t stop high-tech fraudsters alone, says an NGO official and former chairman of the Monetary Authority of Macau.

“The challenge for financial stability is huge, not just (for) any particular country, but also regionally and globally,” Anselmo Teng, co-chair of the Alliance for Financial Stability with Information Technology (AFS-IT), told CNBC at the East Tech West in the Nansha district of Guangzhou, China.

“Regulators worldwide have to do something about it, but they can’t do it alone,” Teng said. “They have to work with the industry, the banking sector as well as the technology companies, to come up with good solutions to address this problem.”

Cybercriminals exploit new openings as regulators scramble to keep up with financial innovations such as digital payments and robotics in the fund management industry. But Teng is hopeful about growing efforts to protect worldwide financial security.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: andrew wong
Keywords: news, cnbc, companies, regulators, ngo, worldwide, fraudsters, technology, cant, industry, work, digital, teng, stability, stop, financial, hightech


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