Precision tests via radiative $mu$ and $tau$ leptonic decays

The branching fractions of radiative leptonic $tau$ decays $(tau to l u bar{ u} gamma$, $l=e,mu)$ were recently measured by the Babar collaboration with a relative error of about 3%. The measurement of the branching ratio $mathcal{B} (tau to e bar{ u} u gamma)$, for a minimum photon energy of 10 MeV in the $tau$ rest frame, differs from our recent SM prediction by 3.5 standard deviations, whereas our result agrees with Babars value for $mathcal{B} (tau to mu bar{ u} u gamma)$. Our predictions also agree with the measurement of $mathcal{B} (mu to e bar{ u} u gamma)$ by the MEG collaboration. We also report on a recent proposal to test the $tau$ dipole moments via precise measurements of radiative leptonic $tau$ decays at high-luminosity $B$ factories.