Biometrics

Biometrics

 

Tobias Baer tackles the issue of payment fraud, credit fraud, and money laundering and explains how the universal payee ID can reduce losses. He identifies how fraud schemes are enabled by and benefit from weaknesses in most banking and payment schemes around the world.

One of the most amazing aspects of working in many different countries is the realization that a few countries have the perfect solution for a problem that costs most other countries literally billions of dollars. One of these things is the universal payee ID. It could massively reduce payment fraud and credit fraud losses and seriously hinder money laundering.

As I’ve discussed in the past, today we face the problem that banks are very much left to their own devices in confirming the purported identity of a customer or counter party. This causes three big problems.

 

The problems and solutions identified in this article include:

  • Payment systems
  • Unique IDs
  • Biometric data collection

 

Read the full article, Why Covid-19 has shown that we need a universal payee ID now to combat fraud, on LinkedIn.

 

Edward Kees provides the commentary from consultation on the Regulated Asset Base (RAB) model for new nuclear power plant investment in Great Britain.

The challenges of delivering new nuclear power plant (NPP) investment in the reformed electricity industry in Great Britain are significant and there is no simple or easy approach to resolve those challenges.
The RAB model may be a useful tool if properly developed and implemented, but:

-Is complex and may be difficult to implement;

-May not clearly reflect the objectives for the British nuclear power industry;

-May not be relevant without a broader review and/or re-opening of the overall approach to the electricity industry structure and electricity market approach in Great Britain; and

-May not deliver desired new NPP investment, or may only deliver new NPP investment with EdF and/or other State-Owned Enterprises (SOEs), such as CGN from China.

We provide a response to the Consultation questions, as context for later sections of this Commentary that describe some issues that must be addressed to attract new NPP investment.

 

Read the full article, #30 – UK RAB Model, on the Nuclear Economics website.