Category Archives: Uncategorized

We’re seeing a lot about strong customer authentication (SCA) at the moment because of the requirement of the Second Payment Services Directive (PSD2) that comes into force in September. That’s because there’s a lot of fraud online, it’s getting worse and the strong authentication of people (in this case, online customers) is seen as beingContinue reading “SCA and SSCA OLD”

xxx “While the American Bankers Association remains a strong proponent of charter choice and generally does not comment on individual charter applications, the association expressed serious concerns about the implications of a large technology company obtaining a banking charter. ‘As Japan’s largest e-commerce site, Rakuten is a major technology firm engaged primarily in non-financial activities,’Continue reading “Japanese Retail Giant Applies for Banking Charter | ABA Banking Journal”

xxx “Available evidence suggests that even if ‘teething’ issues are resolved, if policy implementation is true to policy design, people will still, very likely be where they were before the integration of Aadhaar with welfare began. This is because of the over-centralized architecture of the technology, combined with the weak accountability of intervening administrative links.Continue reading “Aadhaar Failures: A Tragedy of Errors | Economic and Political Weekly”

xxx “The FBR had sought the cooperation from the central bank after it found out that hardly 10% of over 50 million bank account holders were income tax filers. ‘The existing legal framework provides constraints on procuring and sharing of privilege/confidential information relating to the affairs of the banks’ customers,’ the SBP wrote to theContinue reading “Pakistani Regulators Use Credit Card Data to Find Tax Fraud | PaymentsJournal”

xxx The results of the case could have implications for financial institutions which use SMS as a means of verifying account holders. From Cryptocurrency investor who lost $24 million in SIM swap attack to…. xxx

xxx “The Bretton Woods arrangements also seemed highly unlikely until they were in place. They involved a complicated system of exchange rate pegs, capital controls and a ‘gold pool’ (and other methods) to control gold prices and redemption ratios. What’s more, the whole thing was dependent on America’s role as global hegemon, both politically andContinue reading “Bretton Woods 75th Anniversary: Expect the Unexpected – Bloomberg”

xxx “Enter local currencies. From BerkShares in western Massachusetts in the US to the Brixton Pound in the UK and the Chiemgauer in Germany, these currencies are designed to be spent in a specific community. There are more than 100 operating worldwide, and they’re all fuelled by a common sentiment: They want to support localContinue reading “Why your city should have its own currency |”

xxx “For bargoers, however, these systems create an uncomfortable new paradigm for partying, one in which data-sharing is a norm and technological tools can multiply the consequences of a single bad night. And once a bar adopts an ID scanning system, even innocent patrons may never know where their ID data will end up, orContinue reading “This ID Scanner Company is Collecting Sensitive Data on Millions of Bargoers”

xxx “Recent figures show that last year the fraud prevention service Cifas reported 189,000 incidents of identity theft in the UK. As well as reducing the need to upload copies of passports online, the scheme aims to stop people having to take passports into bank branches. Government figures estimate that around 400,000 UK passports areContinue reading “Warning over uploading copies of passport online as Government launches trial scheme to reduce identify theft”

xxx “Digital ID could be a solution to the gig economy’s marketplace problems. Unlike a paper-based IDs such as most driver’s licenses and passports, a digital ID can be authenticated remotely over digital channels. That means platforms like Uber, Task Rabbit, and Fiverr could verify their drivers, handymen, and independent workers with one click—and bothContinue reading “How digital ID could fix Uber, Lyft, and Fiverr — Quartz”