
The Complications of KYC in an ERA of AI
To discuss the impact of AI on KYC, Wil Janssen, Founder and CEO, Inverid joined the FinextraTV virtual studio. Setting out the negative impacts of deepfake technology on identity verification and disagreeing with the concept of 'fighting AI with AI', Janssen provided some hope in the form of NFC technologies.

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The Sun
17 minutes ago
- The Sun
Halfords reveals stronger-than-expected profits – driven by cost-cutting measures and pricing strategies
HALFORDS has revealed stronger-than-expected profits for the past year, driven by cost-cutting measures and pricing strategies. The motoring and cycling retailer 's underlying pre-tax profits rose by 6.4 per cent to £38.4million for the year to March 28. This was higher than its earlier forecast of £32million to £37million. New boss Henry Birch hailed the results as evidence of a strong performance and progress in the company's growth strategy. Halfords faced £33million in extra costs last year because of inflation and higher wages. However, the company managed to offset this by saving £35million. At the same time, it said its profitability improved thanks to better buying operations and higher pricing. Looking ahead, Halfords plans to deal with rising costs, including higher National Insurance and minimum wages, by adjusting prices, buying smarter and cutting more costs. Meanwhile, total revenues rose 0.1 per cent to £1.72billion for the year, with like-for-like growth of 2.5 per cent. 2 The firm's autocentres business saw like-for-like growth of 3.7 per cent, while retail sales were up 2.1 per cent. Mr Birch said: 'The business has delivered a strong financial performance, made good strategic progress and has a clear plan in place to tackle external inflationary forces.' I-DIAL FOR BEST NETWORK MILLIONS of phone owners can use a new 'map your mobile' coverage checker to find their best network. The service, launched by regulator Ofcom, shows the options on a local map based on the user's postcode. Car washes could be causing your motor's paint to fade as expert shares DIY fix using £xx Halford's product It can also specifically lists which is the best network for workplaces, commutes, or communities. Ofcom's Natalie Black said the tool is based on modern smartphone needs. It sets a higher standard for signal strength and is very precise, focusing on smaller areas within a 50-metre radius. TAX TOLL RISES AROUND 4.4 million households are in council tax arrears — owing a record £8.3billion, figures reveal. The number in the red is up from 3.2 million last year while the total owed has soared 79 per cent in five years, according to research by charity Debt Justice. It said: 'The vast majority aren't avoiding council tax, they simply can't afford it. Rather than help, councils sending in bailiffs.' £1M BOX FINES 2 THOUSANDS of drivers were fined a total of nearly £1million from 36 box junctions last year — after councils across England gained the power to enforce penalties. The RAC said 32,748 fines were issued, with Manchester City Council giving out the most, generating £446,706 from six junctions. Kent's Medway Council raised £145,162 and Buckinghamshire £139,798. One, in Guildford, Surrey, netted £81,445.


Reuters
18 minutes ago
- Reuters
Global energy CO2 emissions reached record high last year, report says
LONDON, June 26 (Reuters) - Global carbon dioxide emissions from the energy sector hit a record high for the fourth year running last year as fossil fuel use kept rising even as renewable energy reached a record high, the Energy Institute's annual statistical review of world energy showed on Thursday. The report's figures highlight the challenge of trying to wean the world economy off fossil fuels at a time when conflict in Ukraine has redrawn oil and gas flows from Russia and fighting in the Middle East raises concern about security of supplies. Last year was the hottest year on record, with global temperatures exceeding 1.5 C (34.7 F) above the pre-industrial era for the first time. The world saw a 2% annual rise in total energy supply in 2024, with all sources of energy such as oil, gas, coal, nuclear, hydro and renewable energy registering increases, which last occurred in 2006, the report said. This led to carbon emissions increasing by around 1% in 2024 and exceeding the record level set the previous year at 40.8 gigatonnes of carbon dioxide equivalent. Of all the global fossil fuels, natural gas saw the biggest increase in generation, growing 2.5%. Meanwhile, coal grew by 1.2% to remain the largest source of generation globally, while oil growth was under 1%. Wind and solar energy expanded by 16% in 2024, nine times faster than total energy demand, the report showed. Industry body the Energy Institute, which comprises energy professionals across levels, together with consultancies KPMG and Kearney, took over from BP (BP.L), opens new tab last year to author the report. Analysts tracking progress have said the world is not on course to meet a global goal of tripling renewable energy capacity by 2030 despite record amounts being added. "Last year was another turning point for global energy, driven by rising geopolitical tensions," Romain Debarre of consultancy Kearney, one of the authors of the report, said in a release. "COP28 set out a bold vision to triple global renewables by 2030, but progress is proving uneven and despite the rapid growth we have seen globally we are still not at the pace required," said Wafa Jafri, a partner at KPMG. COP28 was the United Nations Climate Change Conference that took place in Dubai in 2023, at which countries signed a pact to transition away from fossil fuels in energy systems to achieve net-zero emissions by 2050.


Reuters
23 minutes ago
- Reuters
European corporate distress index rises to nine-month high, Weil index shows
LONDON, June 26 (Reuters) - Corporate distress levels in Europe rose to a nine-month high in the three months to the end of May, an index compiled by law firm Weil, Gotshal & Manges shows, driven by an uncertain economic outlook hampered by U.S. trade and geopolitical risks. The Weil European Distress Index (WEDI) uses data from more than 3,750 listed European companies to monitor 16 indicators reflecting symptoms of corporate distress while considering metrics such as liquidity, profitability, risk and valuation. The index rose to 4.1 from 3.8 at the end of the previous three-month period, suggesting increased probability of higher default rates on corporate debt. Distress among retail and consumer goods businesses climbed to its highest since September 2009, the WEDI quarterly report showed. The sectoral downturn has been driven by factors such as tight credit conditions and weakening consumer demand, the report said. Germany remained the most distressed market in Europe with levels rising to their highest since May 2020, when the global economy was ravaged by the COVID-19 pandemic. Europe's biggest economy has contracted for two straight years, though massive fiscal stimulus has boosted confidence in its growth outlook. Weil also flagged downgrades to Europe's growth outlook as well as elevated geopolitical uncertainty as factors contributing to rising corporate distress.