Financial Transactions facts
While investigating facts about Financial Transactions Tax and Financial Transactions Reporting Act 2018, I found out little known, but curios details like:
In Norway only 5% of financial transactions use cash and the country could be cash free by 2020.
how to record financial transactions?
95% of the world's financial transactions is speculation.
What are financial transactions?
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what is a summary of the financial transactions that occur each day. Here are 8 of the best facts about Financial Transactions Reporting Act and Financial Transactions Reports Act 1988 I managed to collect.
what financial transactions can be handled with an online account?
-
There are approximately 10,000 financial transactions completed with credit cards every second around the world.
-
In 2007 Jospeh Cassano, former head of financial products for AIG, while discussing credit default swaps said; "It is hard for us, and without being flippant, to even see a scenario within any realm of reason that would see us losing $1 in any of those transactions."
-
Due to poor accounting practices and software, the Department of Defense loses billions of dollars on financial transactions between federal agencies.
-
Mexican Slim who today is worth 50B first investment began at the age of 11, when he invested in a government savings bond that taught him about the concept of compound interest. He eventually saved every financial transaction he made into his personal ledger book which he keeps to this day.
-
In 1949, Montreal and Toronto experienced large spikes in the use of $2 banknotes for financial transactions. As the spike subsided over two weeks, another one appeared in Ottawa. The Bank of Canada could provide no explanation
-
Illicit financial flows(IFF) from Africa likely exceed aid flows and investment in volume. Estimates consider that 60 percent of IFFs derive from “commercial transactions through multinational companies".
