Snippings

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An EDF customer who had more than £40,000 stolen from a savings account after the energy firm gave his phone number to scammers was offered £50 as a ‘goodwill gesture to close the case’.

Stephen – who didn’t want his surname used – had the life-changing sum taken after the energy giant gave out the personal information when the fraudsters passed security using his name and email address.

It enabled them to initiate a SIM swap scam, where an individual’s phone number is transferred to a new SIM Card, enabling them to pass other types of security linked to mobiles.

From: EDF customer who had more than £40,000 stolen from savings account after the energy firm gave his phone number to scammers is offered £50 as a ‘goodwill gesture to close the case’ | Daily Mail Online.

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xBy Jessica Washington, AAP, assistant vice president, Atlanta Fed Payments Forum

I recently traveled to London for a few days without any cash or coin. I brought my United States (US)-issued debit card and a couple of US-issued credit cards and tapped them around the city, no signature or PIN required. Sometimes, I used embedded payments through apps. Not once did I swipe a magstripe-enabled card.

From: Counterfeit Cards Persist: Is the Magstripe to Blame? – Federal Reserve Bank of Atlanta.

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Most, but not all, cryptocurrencies have a supply that is fixed or increases over time. 8 Sustaining a bubble equilibrium price path for such cryptocurrencies requires a continuous net inflow of investors’ funds. In other words, if financial analysts cannot explain the valuations of such a cryptocurrency by the peak value of the discounted transactional demand per coin, then the aggregate payoffs for investors are expected to look remarkably close to those of a Ponzi scheme.

From: Bitcoin valuation: Transactional demand versus speculative bubble | CEPR.

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Citigroup (C.N), opens new tab erroneously credited $81 trillion, instead of $280, to a customer’s account and took hours to reverse the transaction, a “near miss” that shows up the bank’s operational issues it has sought to fix

From: Citigroup mistakenly credits customer account $81 trillion in “near miss”, FT reports | Reuters.

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Please arrest year-old man and don’t

 

This did of course lead me to wonder what I would do if I discovered that there was $81 trillion in my bank account in the morning. I think what I probably do is convert it to bitcoin and move it to a bitcoin called wallet for safekeeping. Of course, when Citibank turned up to ask for the cold wallet or the bitcoin, I would undoubtedly be in the unfortunate situation of having accidentally thrown away the cold wallet in the garbage and have forgotten the pass sprays.

 

Of course if I discovered that there was $81 trillion in my bank account in the morning then I would immediately start converting it to bitcoin and a variety of other cryptocurrencies and move it via a series of mixes into a collection of cryptocurrency account where I would hold it

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The Tony Blair Institute for Global Change has unveiled an ambitious proposal for a digital ID-linked National Data Library (NDL) in the United Kingdom, representing one of the most comprehensive data integration initiatives proposed for the nation to date.

A key component of the proposed system is a universal digital identity scheme, which would create unique identifiers for all UK residents. This approach aligns with recent trends in public-private cooperation in AI and identity management, suggesting a shift toward more integrated digital governance systems.

From: UK’s Blair Institute Proposes National Digital ID System Linked to Public Data.

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Apple has released a white paper that lays out its position on age assurance and outlines new tools it will roll out to “help parents protect their kids in a way that is designed around privacy.” It also formally and firmly states its belief that the responsibility for age assurance measures should be on apps offering age-restricted content – and not app stores that offer them for download.
Its publication has drawn a response from Meta, which is among the loudest firms saying that age assurance should be handled by app stores, continuing a back-and-forth that has also drawn in the porn industry and digital rights activists.

From: Apple volleys age verification question back to sites and apps | Biometric Update.

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Bitcoin and major cryptocurrencies Ripple’s XRP, solana and cardano have rocketed higher after Donald Trump revealed plans to create a U.S.-focused crypto reserve.

From: Trump Reveals U.S. ‘Crypto Reserve’ Price Bombshell—Sending XRP, Solana, Cardano And Bitcoin Soaring.

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Bitcoin and major cryptocurrencies Ripple’s XRP, solana and cardano have rocketed higher after Donald Trump revealed plans to create a U.S.-focused crypto reserve.

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The bitcoin price shot toward $90,000 per bitcoin following Trump’s post, despite not being named as being included in the planned U.S. crypto reserve.

Ripple’s XRP and ethereum rivals solana and cardano—all regarded as U.S.-made cryptocurrencies—each rose between 20% and 50%.

From: Trump Reveals U.S. ‘Crypto Reserve’ Price Bombshell—Sending XRP, Solana, Cardano And Bitcoin Soaring.

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Mow also criticized the selection of assets in the reserve, arguing it was designed to enrich specific projects rather than serve a national purpose.

From: Bitcoiners slam Trump’s crypto strategic reserve, call it a ‘sh*tcoin reserve’ – TheStreet Crypto: Bitcoin and cryptocurrency news, advice, analysis and more.

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We also said in the consultation that we would issue a government trust mark to services that are on the register. You’ll be familiar with trust marks from lots of other places; symbols like the Red Tractor for food,

From: Making it easy to find trustworthy digital identity and attribute services – Enabling digital identity.

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