Snippings

xxx

Bank account and loan fraud has soared in the UK during the pandemic as criminals sought to target British businesses and consumers in the lockdown and exploit government support schemes.

Loan fraud rates rose 40 per cent in the second quarter, according to Experian, their highest level in the past three years. This was almost two-thirds higher than the same period last year.

First-party fraud related to loans — when customers apply with no intention of paying or for more favourable terms using false details — rose almost a fifth.

From UK bank account and loan fraud soars in pandemic | Financial Times.

xxx

xxx

adult entertainment offers a telling view of that digital disruption.

From OnlyFans shows how the creator economy is shaping media | Financial Times:

xxx

xxx

From there, users can present identification to the TSA by tapping their iPhone or Apple Watch at the identity reader. Apple says users need to submit Face ID or Touch ID on their devices to share their identification as a security measure so that “only the person who added the driver’s license or state ID to the device can present it.”

From If You Live Here, You Can Soon Add ID to Your iPhone or Apple Watch:

xxx

xxx

The company on Wednesday announced the first eight states where residents will be able to add their driver’s license or state ID to Wallet on their iPhone or Apple Watch.

Arizona and Georgia will kick off the rollout, followed by Connecticut, Iowa, Kentucky, Maryland, Oklahoma, and Utah.

“The addition of driver’s licenses and state IDs to Apple Wallet is an important step in our vision of replacing the physical wallet with a secure and easy-to-use mobile wallet,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, in the release.

From If You Live Here, You Can Soon Add ID to Your iPhone or Apple Watch:

xxx

xxx

Venezuelan authorities are on the lookout for a scammer accused of disappearing with 23.66 Bitcoin (BTC) worth $1.15 million from his clients’ accounts after faking his own kidnapping.

From 23yo Venezuelan allegedly steals $1M in BTC from clients after faked abduction.

xxx

xxx

In practice, the UK’s plans to fix GDPR – which currently are extremely high-level and vague – could put it on a collision course with the European Union.

From The UK thinks it can fix GDPR. It’s wrong | WIRED UK:

xxx

xxx

The decision to diverge from European standards is unsurprising, one European insider told WIRED, given the broader sweep of geopolitics in post-Brexit Britain, and smaller clues such as the use of “personally identifiable information” (a US term) rather than “personal data” (a European one) in official documents.

From The UK thinks it can fix GDPR. It’s wrong | WIRED UK:

xxx

xxx

Three former high-level Wells Fargo executives who face the possibility of massive financial penalties in connection with the bank’s unauthorized-accounts scandal are scheduled to go on trial this month.

From Former Wells Fargo execs, OCC set to square off at fake-accounts trial | American Banker:

xxx

xxx

Compared to fully banked consumers, or those who have a checking or savings account and have not done any of the three activities listed above with a provider other than a bank, unbanked and underbanked adults are younger, poorer and less likely to identify as white. One notable difference between unbanked and underbanked consumers, however, is gender: Underbanked adults are more likely to be male, while unbanked adults are more likely to be female. Women are less likely than men to say that they participate “a lot” in the financial decisions of their household, and are more likely to cite someone else in their household having a bank account as a reason for their not having one, suggesting that they are not the primary financial decision maker in their household and use the bank account of whomever lives with them.

From How the Roughly One-Quarter of Underbanked U.S. Adults Differ From Fully Banked Individuals – Morning Consult:

xxx

xxx

Government proposals to liberalise the UK’s data protection regime in support of increased innovation, research and economic growth, alongside an expansion of the remit held by the Information Commissioner’s Office (ICO) to support these goals, have prompted discussion among data privacy and infosec experts, with some concerned that Boris Johnson’s government means to gut the General Data Protection Regulation (GDPR) and open the door to an unstoppable grab of personal and private data.

From Are proposed data protection changes a threat to UK citizens’ privacy?:

xxx

xxx

Mishcon de Reya data protection partner Adam Rose was one who raised this as an issue, saying: “Squaring the circle of giving citizens and consumers more control over how their data is used, while also giving business and government greater freedoms to use that data, will be the big challenge.”

From Are proposed data protection changes a threat to UK citizens’ privacy?:

xxx