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John Bertrand

John Bertrand MD at Tec 8 Limited

Reducing Instant Payment Fraud requires transparency, unity and technology

Society and Law has reached a check point where the new digital world is almost beyond the current laws and banking practises. Let’s take a look at fraud in Faster Payments, UK’s instant payment initiative, which is being replicated in over 50 countries, and soon to become available for cross border payments. Faster payments fraud totalled £330 mi...

/payments /crime UK Faster Payments

John Bertrand

John Bertrand MD at Tec 8 Limited

Addressing Payment Fraud and Bank Accounts in the new COVID 19 world

UKFinance reported fraud grew 28% in 2019 to £456 million with Faster Payments, 73% of that total, growing at 33%. UKFinance noted 76% of the fraud comes from the internet and the banking industry covers 98% of the fraud losses. If continued unchecked this could total £1 billion within three years. In addition, COVID 19 has turbo charged the move ...

/payments /crime UK Faster Payments

John Bertrand

John Bertrand MD at Tec 8 Limited

April 2020: Banks to double fees on 19 million accounts

Doubling the interest rate on current accounts for 19 million accounts could add an additional £2.4 billion a year income for banks: so how do we handle this with empathy during a pandemic? The economy is been brought to its knees by the Coronavirus and many, many people will be struggling with less income through the rest of 2020. 19 million of th...

/regulation /retail Transaction Banking

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