/financial crime

News and resources on financial crime, including fraud, scams, Anti Money Laundering and Know Your Customer.

Discussion
Safeguarding Zelle and P2P Transactions with Real-time Fraud Protection
Ketharaman Swaminathan

Ketharaman Swaminathan

  I'm rooting for US banks to block the potential extension of Reg E to authorized payments. There's no reason why shareholders of banks should cough up to compensate bank customers whose negligent actions are responsible for causing the scams in the first place. Fraud v Scam: Who Is Liable For Cybercrime
Can Pay-By-Bank apps stop payment fraud ?
Gian Mahil

Gian Mahil

  Hi Melvin, the two are different beasts all together. With a iVariable Amount DD it is something you would set up with say a utility company to pay a bill regularly - but don't know the amount it is going to be each week/ month/ quarter etc. The Pay-By-Bank is very different it isn't recurring - its a one off payment (useaully a Faster Payment)  that you authorise - without revealing to the merchant your bank details. So you protecting yourself at the point of sale (or website) by not revealing your bank details in any way to the payee (merchant). 
Can Pay-By-Bank apps stop payment fraud ?
Melvin Haskins

Melvin Haskins

  Please tell me how Pay-By-Bank differs from  a Variable Amount Direct Debit, which has been available from UK banks for 30 years or more. I cannot see any difference.
Binance chief downplays CBDC threat to crypto
John Sutherland

John Sutherland

  CZ is talking his own book. CBDCs are unlikely to use blockchain technology. They will leave little space for crypto currency.