Changes in Society and Security Measures

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Security measures must adapt to societal changes, as previous decisions may become costly over time due to evolving user patterns and technological advancements. Originally sound choices can turn inefficient when the environment shifts, highlighting the need for continual reassessment of security protocols. For instance, technology now available makes tasks easier than before, as seen in the improved ability of banks to read checks, which contrasts with past challenges. Furthermore, the financial industry is exploring innovative verification methods, such as requiring merchants to provide legitimate invoices to establish credibility. This approach can prevent fraudulent activities, as more sophisticated fakes require significant effort that likely exceeds the capabilities of less experienced fraudsters.

This week, Byrne Hobart is joined by Patrick McKenzie (patio11), host of the podcast Complex Systems, to discuss the complexity and endless fascination of financial infrastructures, the role of fraud in finance, talent spotting strategies and the importance of building networks.

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LINKS:

Byrne’s writing: https://thediff.co

Patrick's Newsletter: https://www.bitsaboutmoney.com/

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X / TWITTER:

https://x.com/patio11 (Patrick)

https://twitter.com/ByrneHobart (Byrne)

https://twitter.com/TurpentineMedia (Turpentine)

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