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John Bertrand

MD
Tec 8 Limited
Member since
03 Apr 2020
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London
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Followed by John Sims, Martha Boyle and 5 others you follow
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John's opinions

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John Bertrand

Payment System Regulator (PSR) Pioneer work on Instant Payment Scams

Why PS24/7 Faster Payments APP scams reimbursement is needed From 2017 to 2023 Bank/PSPs retained £1.7 billion, an average of £240 million a year of money dishonestly taken out of bank accounts. The holder of the bank account was held liable and could not reclaim their money. Over a million cases reported were reported and a further 40% went unr...

21 March 2025 /payments /regulation Banking Strategy, Digital and Transformation

John Bertrand

International Instant Payment Platforms must be data ready

The cross-border payments are one of the fastest growing transactions in the world. In 2017 the value moved was $150 trillion and by 2027 is expected to reach $250 trillion. This growth in volume is accompanied by a dramatic shortening of payment delivery from at least 24 hours to instant. International Payments are starting to move off the 19th C...

09 March 2025 /payments /markets Banking Strategy, Digital and Transformation

John Bertrand

Instant Payment Fraud: Consumer/Business Trends in the UK, US, and EU

In the UK, H1 2024, £570 ($720) million was stolen in payment fraud of which Authorised Push Payments) Payor to Payee bank accounts accounted for 30%. From 2020 to 2023 £1.4 ($1.8) billion has been scammed from customer bank accounts. Fraud accounts for 40% of all crime in England and Wales. In the US, traditional payment fraud totals $4 with onli...

21 February 2025 /payments /regulation Banking Strategy, Digital and Transformation

John Bertrand

Growing Sophistication of Payment Fraud: Business & Personal Sectors Need Different Solutions

As we navigate through 2024, a concerning trend is emerging in the payment fraud landscape: while case volumes are declining, the financial impact per case is intensifying. This paradox reveals a sophisticated evolution in fraudster tactics that demands our attention - and different approaches for personal and business sectors. The Numbers Tell a ...

21 February 2025 /payments /identity Banking Strategy, Digital and Transformation

John Bertrand

To Grow the UK Economy: Accelerate Instant Payments

The EU Directive on Instant Credits is set to take effect in October 2025. By reducing payment processing times from days to mere seconds, EU countries are projected to see their GDP increase by 1 to 2%. The efficiency gains from Instant Payments, where funds are immediately available for reuse, create a compounding effect that accelerates economi...

14 February 2025 /payments /regulation Futuristic Banking

John Bertrand

News on changes to APP fraud regulation

It was good news to hear that the regulators changed the ceiling of reimbursements to £85,000 from £415,000 and stopping the yellow journalism of all APP frauds would immediately rise to £415,000. The £85,000 level covers 90% of today’s APP scams. It’s important to match the ceiling on bank deposit compensation schemes world-wide. The new regulati...

06 September 2024 /payments /regulation The Payments Business

John Bertrand

Fraud is not just financial loss

Summary Should the movement to defer the Payment System Regulator’s (PSR) mandated regulations for a year beyond the proposed start date of October 2024 then, at the current rate, a million bank account holders will be scammed out of £480 million. The banks will lose £240 million and so will the victims every year until the situation changes. Frau...

02 September 2024 /payments /regulation The Payments Business

John Bertrand

Just implement the new regulations to prevent APP (Authorised Push Payment) fraud

The Financial Times last week reported strong industry resistance to the incoming mandatory reimbursement to bank fraud caused by authorised push payment (APP) fraud. This is understandable as banks since 2015 have not refunded 50% of the reported amounts scammed and now are mandated to refunding 100% of the customers money. A serious recurring an...

19 August 2024 /payments /regulation The future of Payments in Europe

John Bertrand

Bank Fraud is Colossus: what can we do?

Bank Fraud was examined in clinical detail at LexisNexis ‘Trust:Live 2024 Conference. Fraud represents 49% of UK Crime. No one knows how many scammers are out there. The scale of scam messages, over 1 billion sent over the telecom networks this year, suggests a significant number of digital fraudsters. The Dedicated Card & Payment Crime Unit ...

27 June 2024 /payments /crime Artificial Intelligence and Financial Services

John Bertrand

Greetings from New York City, where you can save money by paying in cash.

Watching a televised rugby game, Leinster playing Northampton, at an Irish pub, The Long Hall, NYC, the bill if paid in cash would be discounted. On $100, savings could have been $3.00. Incentives, in the US cash are plentiful, for example, the price of gas (petrol) is lower at the pump when cash is used. Also, at the point of payment, the cust...

12 May 2024 /payments /regulation The Payments Business

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John writes about

  • artificial intelligence
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John's opinion archive

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