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Over 12k fake entities in GST; CBIC plans biometric authentication, tighter return filing

CFO News

The Central Board of Indirect Taxes and Customs (CBIC) in India is planning to introduce biometric authentication and geo-tagging in an effort to crack down on GST fraud. The CBIC chief, Vivek Johri, said that there are around 12,500 bogus entities that have been identified as claiming fake Input Tax Credit (ITC).

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Court: Facebook Biometric Data Lawsuit Will Proceed

PYMNTS

It’s not like a Social Security card or credit card number where you can change the number. The key issue is Facebook’s “Tag Suggestions,” which let users tag friends in previously uploaded photos. You can’t change your face.”. Facebook said it will continue to appeal. “We

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B2B Fraudsters Find New Twists In Old Scam Favorites

PYMNTS

An FBI inquiry into the allegations is centered upon claims of fraudulent spend within SEPTA and misuse of the authority’s procurement cards — a common source of internal fraud for both private and public entities. However, the case is also a unique instance of fraud stemming from both within an organization and from a third party.

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Adobe Is The Newest Claimant To Beacon’s In-Store Crown

PYMNTS

In short, few can claim the pedigree that Adobe does when it comes to digital product support. As customers place items also equipped with RFID tags into the bag, those potential purchases are immediately registered to a central system. ” While the name is decidedly unsexy, how it operates decidedly is.

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The Incredibly Unexpected World Of Leap Year Commerce

PYMNTS

If you move them sufficiently with your plight, they will offer a $290 credit on a hotel stay. They simply have to tag @KrispyKreme with the hashtag #KrispyKremeSpecialDelivery and the chain will contact them. And while we won’t claim that the U.S. Bored anywhere else?

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Russia in Ukraine: Let Loose the Dogs of War!

CFO News Room

In times of trouble, the first to panic are often lenders to the entities involved, and in today’s markets, the extent of the reaction to country-level troubles can be captured in real time in the sovereign CDS (Credit Default Swap) markets. Economic Consequences.

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The Real-Time Payments Receivables Conundrum

PYMNTS

For example, businesses are paying insurance claims to consumers and loan proceeds to borrowers in real time – and banks and FinTechs are enabling payments between people in real time. It’s a dynamic that can be solved by access to speedy real-time rails – but it also comes with a hefty price tag for suppliers. buyers owe suppliers $3.1

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