With the value of Venezuela’s largest banknotes reduced to a few U.S. cents by triple-digit inflation and the currency’s collapse on the black market, the country’s central bank said it will begin circulating higher-denomination notes this month.

New denominations including bills of 500, 1,000, 2,000, 5,000, 10,000 and 20,000 bolivars will start appearing at banks from Dec. 15, according to a Central Bank statement, adding that coins of 10, 50, and 100 bolivars would also be released. Bloomberg News first reported the plans for larger bills on November 30.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Venezuela to Issue Bigger Bills This Month as Currency Plunges

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Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace.

A 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.

Read the Full Article: Source – Yahoo News
Time For Truth: (Yahoo News) – Naked selfies used as collateral for Chinese loans

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Tesco Bank’s chief executive has blamed “a systematic, sophisticated attack” for the money taken from 20,000 of its customer accounts.

Benny Higgins said the bank knew “exactly” what the attack was, but could not say more because it was part of a criminal investigation.

He said all affected customers would be refunded by the end of Tuesday.

Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – Tesco Bank blames 'systematic sophisticated attack' for account losses

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Facebook said its main UK subsidiary generated an 11-million-pound tax credit in 2015 even as revenues soared, thanks to its tax efficient structure, accounts published on the weekend showed.

Analysts say Facebook generates hundreds of millions of dollars in revenue from UK clients each year but until this year all transactions were booked in Ireland, minimizing the social media group’s UK tax bill.

Read the Full Article: Source – Reuters
Time For Truth: (Reuters) – Facebook reports 11-million-pound UK tax credit as revenues soar

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Law authorities have warned they believe criminals are using Android phones to trigger fraudulent tap-and-go payments.

The alert comes in Europol’s annual Internet Organised Crime Threat Assessment report.

Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – Europol warns of Android tap-and-go thefts

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