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Mastercard says it is helping banks to stop payment scams in their tracks, before funds leave a victim’s account.

The payments provider said that in partnership with UK banks including Lloyds Bank, Halifax, Bank of Scotland, NatWest, Monzo and TSB, it is using payments data to help identify payment scams.

From Mastercard helping banks predict scams before money leaves customers’ accounts | The Independent.

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Over four months, TSB said that Mastercard’s tool has increased its fraud detection.

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While all the B33 sneakers feature an “encrypted digital key” — an near field communication chip placed in the sole of each right foot — which can be scanned via smartphone to access “a personal, secure platform offering dedicated services,” this first limited edition drop also comes with a Digital Twin Collectible secured on the Ethereum blockchain.

From Decrypting The Strategy Behind Dior Men’s Connected B33 NFT Sneakers:

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Businesses that provide bank accounts are generally entitled to close them – just as their customers are. But you should treat your customers fairly. You shouldn’t close an account because of unfair bias or unlawful discrimination. And you shouldn’t usually close an account without giving reasonable notice.

From Bank account closures:

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We’d only expect you to give a customer less than 30 days’ notice in exceptional circumstances. This might be where:

you suspect them of fraud
they were threatening or abusive to your staff

From Bank account closures:

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The US, initially put off chip+PIN by the higher costs for banks, eventually relented as fraud migrated to that country.
We now need similar concerted action when it comes to online fraud.
Digital ID looks like a promising avenue – but it must be controlled by consumers and privacy must be protected.

From The fraud epidemic isn’t going away – let’s act:

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ChatGPT was able to pass the test Bridgewater gives to its investment associates, the firm’s co-CIO said.
The bot was in the 80th percentile of performance, around the same level as a first-year associate at the hedge fund.
ChatGPT is the equivalent of having “millions” of investment associates working at once, Greg Jensen said.

From ChatGPT Is Like Having ‘Millions’ of Investment Associates: Bridgewater:

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A cyber espionage group linked to the Iranian government has been impersonating think-tank employees to phish Middle Eastern nuclear weapons experts, according to researchers at Proofpoint.

From Iranian hacking group impersonating nuclear experts to gain intel from Western think tanks | SC Media:

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It’s easy for the FCA to say that

While the decision to accept or maintain a business relationship is ultimately a commercial one for the bank, we think that there should be relatively few cases where it is necessary to decline business relationships solely because of anti-money laundering requirements. As a result, we now consider during our anti-money laundering requirements work whether firms’ de-risking strategies could lead to consumer protection and/or competition issues.

From De-risking: managing money-laundering risk | FCA:

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In addition, and most importantly, it is difficult to imagine the disempowerment of the state as a digital identity provider in favor of a self-sovereign decentralized identity which prioritizes user empowerment.

From Digital Identity Infrastructures: a Critical Approach of Self-Sovereign Identity | SpringerLink:

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Simply put, the “dollar” isn’t just a pile of banknotes: It’s shorthand for an intricate web of institutions structured to ensure property rights — laws, rules, clearing systems, messaging systems and relationships among thousands of central and commercial banks, financial institutions and businesses. And perhaps most importantly, common law is built on court systems that function with integrity, transparency and flexibility.

From In defense of the dollar – POLITICO:

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Bitter finger-pointing and recrimination are swirling among and around investors in Bored Ape Yacht Club, the “profile pic” (PFP) NFT collection that skyrocketed to immense values in early 2022. The market for Apes has been brutally hammered by a lull in NFT interest, with floor prices declining to 27.4 ETH, from a high of 153.7 ETH in April of 2022. Floor price is a proxy for the overall value of an NFT collection, so that 82% floor decline can translate into even bigger drops in the value of individual Bored Apes and related assets. In one notable example, Justin Bieber owns an Ape that was supposedly worth $1.3 million at one point, and now the highest bid for it is just over $58,000 – a 95% decline.

From The Broke Ape Yacht Crash: Lessons for Justin Bieber and Other NFT Collectors:

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The most mortifying stories coming out of the BAYC community right now are of people who used their Apes as collateral for loans, and are now getting liquidated as BAYC values drop. In just one instance, BendDAO, as spotted by Protos, is selling off dozens of Apes that have been seized as collateral for un-repaid loans. Bend is just one of a few similar services, and these liquidations may even be driving BAYC values into a downward spiral.