A library of snippets
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They sold the agents lists of potential customers, charging about $1,800 for 20 leads. The lists were filtered to focus on those over 55 with at least $100,000 in assets.
From: How a Master of Deception Conned Investors Out of $50 Million—in His Own Words – WSJ.
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Box C: Digital identity frameworks
Digital identity frameworks, including the use of credentials (such as Legal Entity Identifiers or other verifiable credentials), could provide opportunities to enhance users’ payment experiences. For example, credentials could help users verify attributes to identify whether a requested payment is legitimate, lowering the risk of fraud.Realising these benefits may also require a complementary trust service layer that makes identities and associated attributes usable, portable, and verifiable within real time payment interactions. We will explore these considerations further and welcome feedback from respondents on the potential role of digital identity, credentials, and supporting trust services in retail payment journeys.
From: RPIB consultation on the Design of the Future Retail Payments Infrastructure | Bank of England.
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And this is why I think we need GB Drones, and that the government should support such a company. Not because it necessarily makes commercial sense – because it wouldn’t in a pure free market where DJI can manufacture more cheaply and at a larger scale. But because we need it.
As Ukraine has demonstrated, the future of warfare is drones. Europe needs a powerful drone industry. So why can’t it be Britain that makes it happen?
From: Britain needs a national drone company – by James O’Malley.
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A junior EY employee has been fired after facing allegations that he accessed the Australian prime minister’s banking details while on secondment to the country’s largest lender.
The Australian Federal Police said on Tuesday it had charged two men from Sydney with allegedly accessing restricted personal Commonwealth Bank of Australia data belonging to a federal parliamentarian.
The politician in question is Prime Minister Anthony Albanese, according to a person with direct knowledge of the situation.
From: EY employee charged with accessing Australian prime minister’s bank details.
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We find strong evidence of substitution away from CHAPS to Faster Payments. Specifically, CHAPS volume between £250,000 and £1 million is, on average, between 10.7%–13.7% lower than if Faster Payments had not increased their transaction limit. Furthermore, we find substitution is far greater for customer credit transfers and lower-value payments. These results provide some of the first clear empirical evidence of meaningful substitution from real-time gross settlement schemes to instant payment schemes, raising important implications for payment system operators and the future role of different settlement models.
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The stablecoin era: The history and future of stablecoins
From: Journal of Payments Strategy & Systems: Ingenta Connect Table Of Contents.
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OpenUSD is built for the customers and payment flows that don’t use stablecoins today and that is a different fight, on a different part of the board, for money that has been standing on the sidelines the entire time.
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A report commisisoned by digital bank Revolut found that 13.5 million Briitsh consumers have been left out of pocket.
An even greater number (19 million) have reduced their online spending as a result of what Revolut has called a “major threat to consumers and online businesses”.
The ‘Clicking with Caution’ report found that more than two-thirds (68%) of shoppers abandoned their purchases due to fears of scams; 78% do not trust unfamiliar brands online and 72% say that AI and deepfakes have made scam ads impossible to spot.
However, the report also highlights the role of the platforms and social media companies hosting the scam ads, which have made a collective £430m from scam ads, according to Juniper Research.
“Scam ads no longer just rob individuals, they’re eroding the trust the entire digital economy is built on,” said Oleskii Mukhin, general manager of financial crime at Revolut.
From: One in four Brits have fallen for online financial scams.
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Cheaper than cards, cheaper than Swift, a few basis points shaved off a rail. And I argued loudly that was the wrong axis. The value of stablecoins is not that they’re cheaper (although they often are), it’s that they’re better.
Instant, 24/7, global and programmable.
OpenUSD isn’t chasing the dollars that already went onchain; it’s going after the dollars that were stuck, in a closed loop, in a nostro over a weekend, unable to be programmed.
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It’s because we simply have little idea what happens once Personal AI agents start to act on behalf of people at scale. How disruptive they will be to today’s customer experiences, customer relationships, and to every company’s digital and data processes.
And not just for AI payments (all the ‘Agentic Commerce’ stuff). But all the rest of your customer interactions.
From bookings, upgrades, account management and onboarding, to complaints, product discovery, loyalty and customer services. And so much more.
Under-hyped.
And yet what’s the barrier to all that value being created?
Digital trust.
From: Is BankID ready – or able – to adjust to what’s coming?.
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Snippings