Payment Systems Regulator strategy to introduce ‘Trusted KYC Data Sharing’
Published on 11th July 2023
Whatever one’s opinion of Nigel Farage, the concept that he can be de-banked should be troubling to everyone. It should be even more troubling to those familiar with the financial industry’s measures to counter financial crime, as remedies being applied by banks […]
Letter to Lord Johnson
Published on 10th July 2023
The Payments Association has sent a letter to Lord Johnson about the proposed widening of the coverage for victims of Authorised Push Payment Fraud (APPF):
The letter raises three areas of concern, which could have unintended consequences:
1. Almost all consumers experiencing APP fraud will get their money back (unless they […]
‘Digital pound’ consultation
Published on 28th June 2023
We have sent an addendum to our previous response to this consultation on the ‘digital pound’.
Its message is that the ‘digital pound’ will not be a form of ‘central bank money’ if its so-called Distribution Model replicates what happens in the Visa and Mastercard ecosystems on three points.
The consultation […]
Published on 8th June 2023 with the underlying article published by IREF Europe on 7th June 2023
Introduction
Central banks have undertaken many investigations, pilots and proofs-of-concept into Central Bank Digital Currencies (CBDCs), proving little beyond the lack of a convincing case in their favour, but unearthing many risks, drawbacks and unanswered questions.
Recent material from Sweden, Japan, […]
Bank of England’s ‘consultation’ on the ‘digital pound’
Published on 15th May 2023
We previously issued a paper on the YouGov surveys that the Bank of England commissioned to support its work on the ‘digital pound’, the outcome of which work is out for consultation.
We have responded to both the Consultation Paper and the accompanying Technology Working […]
Bank of England ‘consultation’ on the digital pound
Published on 15th May 2023
We have analysed the Technology Working Paper which accompanies the Bank of England’s Consultation Paper on the ‘digital pound’, and responded to the survey.
You can download our responses to the survey questions here.
The UK’s ‘digital pound’, often referred to as ‘Britcoin’, will be a […]
‘Consultation’ on the digital pound
Published on 15th May 2023
We have responded to this consultation, although it is a sham.
You can download our response here.
The points on which the Bank of England has chosen to consult are narrow, and avoid the most important questions about the ‘digital pound’, which can only be referred to tangentially […]
SVB’s obituary
Published on 23rd March 2023
I have sent a paper to the Treasury Select Committee proving how the rescue of SVB UK by HSBC had taxpayer support.
You can DOWNLOAD THE PAPER HERE.The Governor of the Bank of England (Andrew Bailey) and the Economic Secretary to the Treasury (Andrew Griffith) are appearing before them on March […]
HM Treasury’s Call for Evidence
Published on 22nd March 2023
We have submitted a response to the Call for Evidence issued by HM Treasury in connection with the review of the 2017 Payment Services Regulations.
You can DOWNLOAD OUR RESPONSE HERE.
It was submitted just before the collapse of Silicon Valley Bank and the unedifying spectacle of UK government […]
‘Project Financial Crime’ at The Payments Association
Published on 20th March 2023
The Payments Association responded to our Open Letter of 2nd February 2023 about practices common amongst non-bank Payment Service Providers that enable financial crime.
You can DOWNLOAD THEIR RESPONSE HERE.
It amounts to a ‘nothing to see here’.
You will notice our response on page two, which is […]