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xxx   Wim Nauwelaerts, a lawyer with Sidley Austin in Brussels, says each country has enough discretion under GDPR that there could still be a lot of differences, forcing companies with operations across Europe to comply with multiple, potentially contradictory privacy regimes. “What was the purpose, then,” Nauwelaerts asks, “of having a GDPR in theContinue reading “POST GDPR huh what is it good for”

xxx As Anthony Jenkins (former CEO of Barclays) accurately predicted years ago, mobile phones are going to replace cards before they replace cash. From Cardmaggeddon in China (and Canada) | Consult Hyperion. xxx

xxx While credit card use was already declining thanks to technology like Apple Pay, Mr McQueen said even that will soon be replaced. He said Square’s Pay By Name system, which detects when a known mobile phone is in range, identifies the buyer, and displays his or her face on a screen so that theContinue reading “Futurist Michael McQueen on everyday items that won’t exist soon”

xxx When he called Bank of America’s customer service line, he learned that the $300 had been transferred — to a JPMorgan Chase bank account, whose owner had registered the same phone number Ms. Kemm used. He said he was told that there was nothing Bank of America could do to get his money back.Continue reading “POST Faster faster fraud”

xxx The world’s 500 biggest corporations are on track to spend a total of $7.8 billion to comply with GDPR, according to consultants Ernst & Young. From It’ll Cost Billions for Companies to Comply With Europe’s New Data Law – Bloomberg. xxx

xxx Major card schemes are rallying around the the new EMVCo Secure Remote Commerce (SRC) framework in a bid to create a ubiquitous online shopping technology standard backed by token-only storage of payment details. From Major card schemes zero in on single ‘buy’ button for online commer…. xxx

xxx Every morning I wake up to the same routine. I log into the Tinder account of a 45-year-old man from Texas—a client. I flirt with every woman in his queue for 10 minutes, sending their photos and locations to a central database of potential “Opportunities.” For every phone number I get, I make $1.75.Continue reading “Online dating is so awful that people are paying virtual dating assistants to impersonate them — Quartz”

xxx It’s called Fuelgram and, for a few dollars a month and access to your Instagram log-in credentials, it will use the accounts of everyone who paid that sum to like and comment on your posts — and it will use yours to do the same to theirs. In other words, Fuelgram creates fake engagementContinue reading “Real People Are Turning Their Accounts Into Bots On Instagram — And Cashing In”

Thanks to PSD2 (and the Competition and Markets Authority) we now have open banking. Third parties can have access to bank customer data — with customer consent, obviously — and there’s nothing that banks do about it. Who will benefit from this? We have long advised our clients that the competition to incumbent financial services providersContinue reading “POST 21st century anti-trust is about opening up not breaking up”

I remember listening to a report on “money mules” on BBC radio a couple of years ago. They were interviewing a teenage girl who had been approached on social media to ‘lend’ her bank account to a stranger which, somewhat unwisely, she did. The end result was that her account closed down and a warning flagContinue reading “BBC Radio 4 – Money Box, Teenage money mules. What happens when you get found out?”