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Offline settlements with a digital pound: Lessons from the BoE’s report

The Payments Association

The difficulties lie in the assumption that, however secure they may be, one cannot rule out a breach of secure elements in the future. Compliance leads must engage in shaping rules around value caps, restitution processes, and failure scenarios. Enforcement and fallback rules will be needed to address stale or suspicious activity.

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Connecting Banks to the World of Digital Assets: Taurus Launches Taurus-NETWORK

The Fintech Times

Furthermore, looking at embedded compliance, travel rule compliance and proof of reserves are embedded by design. TN allows network participants to have an irrevocable proof of identity as well as exchange and verify digital asset addresses automatically. Instant transfer confirmation is also possible.

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What is document classification?

Nanonets

  Some common methods used for text classification are rule-based OCR , Machine Learning approaches that use labelled training datasets, and Unsupervised learning using NLP. Most of the modern OCR systems , however, incorporate rule-based classification. The scripts that classify the extracted text run on human-crafted rules

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Fraud: What Is the Contingent Reimbursement Model?

FICO

Until May 2019, the liability for losses from these scams was generally set by the victim’s bank; with no uniform rules, the bank could decide to reimburse the customer or not. Banks have given customers the ability to make real-time, irrevocable payments but have not given them protection if something goes wrong.

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TokenEx On PCI Scope Creep And Getting Into GDPR Gear

PYMNTS

Even worse, failure to comply with these standards can increase a company’s risk of suffering a data breach , which can result in substantial legal liabilities and loss of sales, not to mention irrevocable damage to a company’s reputation. Particularly important for businesses is the “scope” of these standards.

PCI DSS 71
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 Four In 10 Road Warriors Use Corporate Cards For Personal Items

PYMNTS

In a statement that accompanied the findings, Christophe Renard, VP of CWT Solutions Group, the consultancy arm of CWT, said that “travel managers need to address the misuse of company cards — and also work out why travelers don’t follow the rules.”. Faster Payments/Faster Fraud in the UK?

APACS 60
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Citi On The Art And Science Of Detecting B2B Outlier Payments

PYMNTS

Kohli noted that, in the B2B realm, there is a recognition among payment professionals that the increased velocity of payments — especially what might be termed as “payments with finality” that come across real-time rails, where transactions are often irrevocable — means risk is on the rise.

B2B 70