A library of snippets
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But among other details, investigators matched Nguyen and Llacuna’s Discord account data (including Nguyen’s IP address and Llacuna’s email address and phone number) with corresponding accounts on the Coinbase cryptocurrency exchange. The Coinbase accounts were linked with a Citibank credit card and government ID that let law enforcement track the pair down.
From Two men arrested for $1.1 million NFT ‘rug pull’ scam – The Verge.
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When I talk to bankers, they’re often baffled that companies will pay so much to providers like Stripe for cards or ACH when the bank would offer it so much cheaper.
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Banking-as-a-Service (BassS) is a well-understood strategy to give non-banks embedded finance options to provide financial services to their own customers, exploiting the bank’s licence and core capabilities such account management, compliance, fraud management and lending. It is an incredibly cost effective distribution strategy, as measured by the return on equity (ROE) and return on assets (ROA) achieved by the banks taking advantage of it.
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“The vulnerabilities of AI and complex analytic systems are significant and very widely overlooked by many of the organizations employing them.”
From AI Experts Warn of Potential Cyberwar Facing Banking Sector – WSJ.
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ECOMMPAY’s recent study found that 28% of consumers have ‘no idea’ what Open Banking is and how it is used. A further 20% stated that they were a ‘little confused’ about the term and its uses. Similarly, 3 years after the launch of this system, 10% of business leaders still don’t fully understand what Open Banking is, or how it could benefit their business.
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Crypto billionaire Sam Bankman-Fried
“I don’t think it moves the needle that much from where we were before. I think it’s more just a reflection of where the administration is than anything else,” the CEO of crypto exchange FTX told CNBC.From Biden’s Crypto Order: Sam Bankman-Fried, Kevin O’Leary, Novogratz React.
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The latest book from renowned digital identity expert David Birch is an exploration of the future of money. Birch is always ahead of the game when it comes to industry trends, so despite being published a few years ago ‘The Currency Cold War’ hits right at the heart of the current buzz around cryptocurrencies, CBDCs and digital money.
Birch argues that an overhaul of our current monetary system is inevitable, so we need to be prepared. Developing a global digital identity infrastructure is crucial to enable due diligence for e-money payment systems.
But Birch goes way beyond the technical and places digital currency into a much wider political and geographical content. He explores the political power conflicts and private company interests that have, or will, drive the development of new currencies and change money as we know it today.
From 5 must-read books for digital identity enthusiasts – Future Identity.
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The project is now expected to ditch plans for a card scheme and will instead focus on the digital wallet.
From EPI abandons plan for Visa and Mastercard rival as member banks quit:
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About 3,000 businesses are registered on Companies House every day, and Barrow thinks 20 to 25 per cent are questionable. Almost 10 per cent are apparently registered by UK-resident Romanians, who make up 0.5 per cent of the population.
From Why kleptocrats and money launderers love Companies House – New Statesman:
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Almost none of the information filed on Companies House is checked, and because it isn’t linked to HMRC’s data, Barrow says, “you can file completely different sets of accounts in both places, and no one will check”. A company can be set up in your name in minutes, without your knowledge — Barrow recently reported on a street in Anglesey where residents found that a series of zoos had been registered to their addresses — but it takes a court order to remove your name from the register.
From Why kleptocrats and money launderers love Companies House – New Statesman:
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“The only way we beat this problem is transparency,”
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About 3,000 businesses are registered on Companies House every day, and Barrow thinks 20 to 25 per cent are questionable. Almost 10 per cent are apparently registered by UK-resident Romanians, who make up 0.5 per cent of the population.
From Why kleptocrats and money launderers love Companies House – New Statesman:
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