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Archive for February 20th, 2013

According to The Guardian, in October 2012, Donaldson (not her real name) to her horror discovered that over the course of two years, each time she had transferred her monthly paycheck of $1,500 from her HSBC account to the joint one she shares with her husband at Nationwide building society, she had accidentally been placing the money in a total stranger’s account. After two years, the amount she had transferred was roughly $40,000.

Banks move with times and it was paperless statements and it made the bank’s work a lot easier. Unfortunately the customers who didn’t move with the times or failed in safeguarding hard earned savings were in for shock as in the case of Donaldson. In 2010, she checked that her wages were leaving her business account held with HSBC at the end of every month. To her utter dismay she had left one digit out in the bill payment scheme set up with HSBC.’ As a result the money has been going to another Nationwide account holder for the past two years, amounting to £26,650!”

It may be difficult for Donaldson to get her money back. According to The Guardian, the recipient refuses to return the money and the bank cannot reveal his or her identity due to data protection rules. What’s more, British law dictates that when money goes into the wrong hands, it can be withdrawn without gaining permission first for up to six years after it’s wrongfully transferred. But in Donaldson’s case, the recipient had withdrawn the money through ATMs so there is nothing they can do.

“People have become so dependent on technology that they’ve developed a blind trust in computers,” says Manisha Thakor, CEO of MoneyZen Wealth Management. “But technology isn’t perfect; when you consider the sheer volume of transfers that banks make every day, it’s actually very easy for an error to occur. People have a personal responsibility to take ownership of their finances.”

Here are some simple steps to protect yourself.

Communicate: It seems unlikely that Donaldson, who was supporting herself on a hairdresser’s salary, could overlook the fact she ought to have checked with her partner if the funds were in. Many couples don’t communicate enough about finances.

Read in reverse: When you’re double checking the number you typed in, read it again but this time backwards. “By reading from the last number to the first, you’ll avoid scanning on autopilot,” says Thakor. “This process forces your brain to stay alert while you read so you’re more likely to catch typos.”

Keep a Paper trail: “Even if the bank made the mistake, you’d have no proof of innocence if you don’t have it on paper.” If you don’t want to opt for mailed statements, take a screen shot of what you typed in and print it out for your files.(ack: Elise Solé,Shine /Financially Fit of Feb11,’13)

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According to the latest findings the scientists seem to think our universe is inherently unstable and an ‘event shall happen at the speed of light’ and spell doom for it.

A subatomic particle discovered last year may be the long-sought Higgs boson particle. It is a manifestation of an energy field pervading the universe- the Higgs field, which is thought to explain why particles have mass.

The mass of the particle, which was uncovered at the world’s largest particle accelerator — the Large Hadron Collider (LHC) in Geneva — is a key component in a calculation that portends the future of space and time.

“This calculation tells you that many tens of billions of years from now there’ll be a catastrophe,” Joseph Lykken, a theoretical physicist at the Fermi National Accelerator Laboratory in Batavia, Ill., said Monday (Feb. 18) here at the annual meeting of the American Association for the Advancement of Science.

After searching for decades for proof that this field and particle existed, physicists at the LHC announced in July 2012 that it is a sure bet and it is the Higgs boson.

A little bubble of what one might think as an ‘alternative’ universe is likely to replace the present.(Reuters)

God’s particle as it is called in popular parlance gave us a chance to make this earth as we know it today. President Obama is hinting of’ sequestering by a meat cleaver’ may not be the ideal to save the nation’s economic health. Well, calculations of partisan politics whether in Capitol Hill or in Tunisia will not mean a straw.

Is it some poetic justice where 1% of the US has cornered all the nation’s wealth and the GOP is still filibustering with an eye for tax cuts for the super rich? Just as Higgs Boson particles gave mass to our universe and these shall be taken away. When or why may not be for us to predict. Perhaps St. Paul may prove to be right about death afterall!

Death as we know the term shall be swallowed up in victory. (1Co15:54)  The Preacher of the old cried,’Vanity oh vanities!'(ack: clara moskovitz/LiveScience.com and Reuters)

benny

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