Al Qaeda Hates Mobile Banking
A Somali group with links to the Al Qaeda militant organization has warned telcos operating in Somalia to halt mobile money transfer services. The al Shabaab group, which controls much of the country, claims mobile banking is "unIslamic" and aids Western capitalism, though it's more likely the group is threatened by mobile's encroachment on traditional money transfer services that are taxed by al Shabaab. An exec from one of the telcos, which include Hormuud, Telesom and Golis, told the BBC the firms have little choice but to comply.
A very Bad program for Fannie Mae
A former Fannie Mae programmer was recently found guilty by a Federal grand jury for crimes connected to an attempt to compromise the GSE's servers and destroy data by secretly changing settings, a crime what was discovered by a senior engineer at the GSE, according to the FBI. Rajendrasing Babubhai Makwana, who was dismissed from Fannie, faces up to ten years in prison when sentenced in December.
Contactless Payments for Kids
Some schools in Denmark are introducing contactless cards, believing they're cleaner and safer than cash. The School Card, developed by the tech firm Nets, enables parents to use the Web to top up the card and block it if the card gets lost or stolen. Parents can also set daily spending limits and block the purchase of certain food items based on allergies or other objections.