A library of snippets
xxx
Abstract
Preview
This document specifies a machine-readable, unambiguous natural person identifier (NPI) and the relevant reference data to uniquely identify the natural person relevant to any financial transaction rather than the personal identifying information.From ISO – ISO 24366:2021 – Financial services — Natural person identifier (NPI).
xxx
Diamond, co-founder and chief executive of Atlas Merchant Capital
“I can’t think of anyone who doesn’t believe that in the future a digital version of the dollar for institutional and corporate use isn’t going to happen and be far more efficient,” Diamond said of stablecoins’ staying power.
From Bob Diamond says digital currencies to have ‘very important place’ in finance | Financial Times.
xxx
xxx
Identification of natural persons for the purposes of provision of financial services has specific applications for protecting the personal data of the employees of financial services firms, allowing these firms to respond to the requirements of regulation without exposing personal information and giving regulators a privacy-protected way to identify beneficial owners, among other use cases.
Benefits include straight-through processing savings, the ability to monitor systemic risk across jurisdictions and, more importantly, the ability to protect citizens’ personal information during the provision of services while responding to regulatory requirements.
This document fulfils the needs of the global financial services industry and the regulatory community for natural person identification. Its key provisions are that it:
— enables unique identification globally of natural persons requiring an identifier;
— defines a natural person identifier (NPI) code that contains no embedded intelligence;
— defines an NPI code that is interoperable with other standards and existing reference data and can be applied globally to support the financial services industry;
— leverages the expertise of ISO/TC 68 in defining and maintaining identifier standards;
— defines an NPI scheme that is reliable and an NPI code that is persistent;
— defines an NPI scheme that is extensible and free from limitation on use and redistribution.
Already existing national NPIs might not be applicable in cross-border transactions. The NPI defined in this document intends to close this gap, allowing a co-existence of national identifiers and the international NPI.From ISO 24366:2021(en), Financial services — Natural person identifier (NPI).
xxx
xxxnoted quantum computing theorist Scott Aaronson It seems to me that a miracle would be required for the approach here to yield any benefit at all, compared to just running the classical Schnorr’s algorithm on your laptop. And if the latter were able to break RSA, it would’ve already done so.
From Shtetl-Optimized » Blog Archive » Cargo Cult Quantum Factoring.
xxx
xxx
A London strip club faces closure after a man had £98,000 stolen from his bank account after allegedly having his drink spiked – the latest in a string of alleged spikings at the venue.
He’s one of 10 men to have now reported incidents following visits to the London strip club, with total funds stolen reaching £250,000 according to a council report.The incidents, which took place at Vanity Bar and Nightclub on Carlisle Street in the heart of Soho, could now see the London club shut down after police called for its license to be suspended pending investigation.
According to MyLondon, the latest victim, who visited the club on November 26, 2022, said he woke up in the street near his home with no recollection of how he’d got there.
His only memory of the evening involved visiting the strip club and buying a drink.
He then checked his bank account to discover money had been sent to a number of unknown accounts with more than £19,000 of funds missing.
From Man wakes to find £98k stolen from bank account after ‘drink spiked’ in Soho strip club:
xxx
xxx
ECB board member Fabio Panneta says trading in unbacked digital assets should be treated by regulators like gambling.
In a blog post, Panetta describes crypto investments as a gamble disguised as an investment asset.
“They do not perform any socially or economically useful function,” he says. “They are rarely used for payments and do not fund consumption or investment. As a form of investment, unbacked cryptos lack any intrinsic value, too. They are speculative assets.”
From ECB executive says gambling rules should be applied to curb crypto speculation:
xxx
Michael P. Regan
This entire space is such a dumpster fire that, in retrospect, it’s hard to believe anyone ever took it seriously.
From Celsius, Gemini, Genesis Crypto-Lending Dumpster Fire Rages On – Bloomberg:
xxx
xxx
The so-called “decreto anti-rave” was the first bill proposed by Giorgia Meloni’s rightwing coalition when the prime minister took office in October. Now officially approved by parliament, it makes organising raves a specific crime punishable with three to six years of jail time, fines of up to €10,000 (£8,900) and the confiscation of equipment. The new statute also allows the surveillance of groups who are suspected of holding these unauthorised events, including tapping their phones.
From ‘Similar to criminal conspiracy’: draconian new law targets Italian ravers | Music | The Guardian:
xxx
xxx
As a small business owner, I get really miffed about card transactions.
Here’s why. Currently I’m charged circa £30.00 per month to rent the terminal. On top of this there are the transaction fees plus management fees. Now a number of you will shout at me and tell me to switch terminal providers such as SumUp, Square etc. well they charge more on the transaction fees to recoup their possible earnings.
Now then for the real issue:
Every penny my business takes via a card payment is still taking three working days to reach my account. In this day and age this is disgraceful.From The right to access cash will soon be enshrined in law:
xxx
In a speech on December 14, Reserve Bank Governor Philip Lowe noted that the value of cash withdrawals was down by 17 per cent from where it was three years ago, while over the same period, the value of nominal spending in the economy had risen by 27 per cent.
According to data from the Reserve Bank of Australia (RBA), there are more than 2 billion banknotes on issue, worth more than $100 billion – that’s about $4,000 per person in Australia.
This is despite cash being used less and less for transactions.
Luke Raven, senior anti-money laundering compliance manager at Cabital, says while many of the banknotes being hoarded will be legitimate, when police and tax authorities do raids on organised crime groups, they often find hordes of $100 notes and $50 notes.
xxx
Snippings