Prudent lending practices for a hurry-up world

first_img continue reading » The culture of instant gratification contributes to, and complicates, the growing problem of fraud. While technology allows loan approval in seconds, it also fuels the fastest-growing type of fraud: online loan application fraud.Loan application fraud occurs when a prospective borrower provides false or misleading information on a loan application. Common examples of loan application fraud include applicants using someone else’s identity to secure a loan or misrepresenting income or assets to obtain loan approval. In the case of identity theft, once a fraudster gains access to loan proceeds, he or she disappears with the money in hand.Synthetic fraud, which involves the creation of fake identification, is one of the most difficult types of account or loan fraud to perpetrate and detect.“The abundance of identity data available for purchase—including fake names, social security numbers, driver’s license numbers, and even birth certificates—exacerbates the problem,” says Jim Bullard, CUNA Mutual Group senior consultant for risk and compliance solutions. “In addition, large data breaches like those involving Equifax and Yahoo increase the amount of personally identifiable information available to create synthetic identities.” 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Central Islip Man Gets 35 Years for Rape

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Central Islip man was sentenced Tuesday to 35 years in prison for raping a woman he met at a party three years ago.Felix Troche Jr. had been convicted last month at Suffolk County court of first-degree rape, criminal sexual act, assault, unlawful imprisonment and other charges.Prosecutors said the 27-year-old met the woman at a Mt. Sinai house party, held her against her will and repeatedly assaulted her for more than four hours on June 1, 2012.Suffolk County police arrested him on April 6, 2014.last_img read more

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UK announces new post-Brexit global tariff regime

first_imgTopics : Britain said the regime, known as UK Global Tariff, would be simpler and cheaper than the EU’s Common External Tariff. It will apply to countries with which it has no agreement and removes all tariffs below 2%.”Our new Global Tariff will benefit UK consumers and households by cutting red tape and reducing the cost of thousands of everyday products,” International Trade Secretary Liz Truss said.The government said tariffs would be eliminated on a wide range of products, with 60% of trade coming into the UK tariff-free on WTO terms or through existing preferential access.The UK will maintain tariffs on products competing with industries such as agriculture, automotive and fishing, and remove levies on 30 billion pounds ($37 billion) worth of imports entering UK supply chains.”Keeping agricultural protection makes sense as a bargaining chip for EU & US trade negotiations. But means big cost increases for agriculture imports if no UK-EU FTA,” said Thomas Sampson, Associate Professor at the London School of Economics.The UK will also remove tariffs on products, which support energy efficiency and will introduce a temporary zero tariff on goods being used to fight COVID-19 such as personal protective equipment. The United Kingdom announced a new post-Brexit tariff regime on Tuesday to replace the European Union’s external tariff, maintaining a 10% tariff on cars but cutting levies on tens of billions of dollars of supply chain imports.After decades outsourcing its trade policy to the EU, Britain is seeking free trade agreements with countries around the world and aims to have deals in place covering 80% of British trade by 2022.The new tariff regime, in place from January 2021, marks a departure from what some UK officials call an overly complex EU system, setting out Britain’s stall as it negotiates trade deals with both the United States and the Brussels-based bloc.last_img read more

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Purging corruption, corrupt officials key to effective omnibus bill: Experts

first_img“If corruption and corrupt public officials are not [eliminated], the [licensure] process is likely to remain difficult,” he added.According to data from Indonesian Corruption Watch (ICW), 213 civil servants, 149 professionals and 45 village leaders were among the government workers who were declared corruption suspects last year.However, Indonesia’s score on the corruption perception index (CPI) improved to 40 in 2019 from 38 out of 100 the previous year to indicate a slightly cleaner public sector, according to Transparency International (TI).On the other hand, Indonesia’s ranking on the World Bank ease of doing business (EODB) index has stagnated at 73rd out of 190 countries for the past two years, despite a slight improvement in its score. Indonesia needs to address corruption to improve public services so that the job creation omnibus bill can bring about the significant changes necessary to attracting investment, experts say.Sonny Keraf, a politician of the Indonesian Democratic Party of Struggle (PDI-P) and a sustainable development expert, said in a virtual discussion on Tuesday that the government should first get rid of corrupt public officials, including several regional leaders, to streamline the business licensing process.“As long as corruption remains unaddressed, whatever the bill’s content, there will still be problems in economic, environmental and social development,” said Sonny, who was environment minister from 1999 to 2001. The job creation omnibus bill is intended to be a landmark bill of the Joko Widodo administration in improving Indonesia’s business climate, and is expected to be passed into law by the House of Representatives in October. The bill aims to overhaul the country’s regulatory ecosystem in revising 79 laws and more than 1,200 articles, but has prompted widespread concern, primarily over its potential impact on environmental protection and labor rights.Read also: Economic recovery depends on stimulus, omnibus bills: Sri MulyaniEarlier on Aug. 4, senior economist Fadhil Hasan of the Institute for Development of Economics and Finance (Indef), identified corruption, bureaucratic inefficiency and access to financing as the three major factors hindering investment.“[Corruption] is the most concerning issue that we face in attracting investment, especially foreign direct investment [FDI],” Fadhil said at the time.Investment Coordinating Board (BKPM) data show that FDI realization fell 6.9 percent year-on-year to Rp 97.6 trillion (US$6.5 billion) in the second quarter as the pandemic hit the global economy.Lestari Indah, an expert staffer on productivity development at the Office of the Coordinating Economic Minister, said that the use of digital platforms would minimize opportunities for corruption among public officials.The BKPM currently provides a business licensure service through its online single submission (OSS) platform as part of its drive to simplify bureaucratic processes.“We are in the [digital] age. Our licensing process will become electronic, all of it. Thus, there will be no need for interaction between potential investors and regional officials,” Lestari stressed. “We hope to solve the corruption issue with this electronic system.” She added that regional administrations must follow suit by implementing further reforms to reinforce oversight on businesses’ compliance with government regulations, including environmental regulations.The government planned to issue a guiding regulation on norms, standards, procedures and criteria (NPSK) for regional administrations to implement the job creation omnibus bill once it was passed, according to Lestari.Executive director Robert Na Endi Jaweng of the Regional Autonomy Watch Committee (KPPOD), said that the omnibus bill would reduce the involvement of regional administrations in business licensure because the licensing authority would be “recentralized”.Regional investment and one-stop service agencies (DPMPTSP) are currently responsible for issuing location, environment and construction permits for businesses, but the omnibus bill will centralize all business licensure through the OSS.“This is not in line with the mandate of the Constitution,” said Robert. “There are regions with inefficient practices and even corruption. But the way forward is not by backtracking on regional matters.”Meanwhile, KPPOD researcher Armand Suparman warned that the omnibus bill, including the risk-based permit regime, might have negative impacts on the four pillars of regional competitiveness, namely the environment, the economy, social inclusion and good governance.Topics :last_img read more

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Governor’s Advisory Council Seeks to Fill Openings on Fish and Boat Commission

first_imgGovernor’s Advisory Council Seeks to Fill Openings on Fish and Boat Commission Environment,  Press Release Harrisburg, PA – The Governor’s Advisory Council for Hunting, Fishing and Conservation is seeking qualified candidates to fill upcoming vacancies on the board of the Pennsylvania Fish and Boat Commission from the Seventh District, which includes Carbon, Lackawanna, Luzerne Monroe, Pike, Susquehanna, Wayne, and Wyoming counties, and from the Fifth District, which includes Bradford, Columbia, Lycoming, Montour, Northumberland, Snyder, Sullivan, Tioga, and Union counties.“The governor is reaching out to the anglers and boaters of northeast Pennsylvania to find a diverse group of qualified applicants, one of which will fill this vacancy,” said Robb Miller, director of the advisory council. “We’re encouraging anyone interested in volunteering on the board to send us a letter that describes their qualifications and experience, along with a copy of their professional resume.”Per the Fish and Boat Code, to qualify as a commissioner, the applicant must be a resident of the district and be well informed about conservation, restoration, fishing, and boating. The term of service is four years and members may serve three consecutive terms upon being nominated by the governor and confirmed by a majority vote in the Pennsylvania Senate.While commissioners are not compensated, they do receive travel reimbursement.The Seventh District has been represented with distinction by Norman R. Gavlick, of Luzerne County, since September 27, 2010. The Fifth District has been represented with distinction by Eric C. Hussar, of Union County, since October 14, 2014.Individuals interested in applying for this seat should send their materials to Robb Miller, 400 Market Street, 7th Floor, Harrisburg, PA 17101-2301. Individuals can also email the information to Robb Miller at robmille@pa.gov.All resumes and cover letters must be received by Friday, August 31, 2018. SHARE Email Facebook Twittercenter_img July 20, 2018last_img read more

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Drug war remains credible despite ‘ninja cops’ controversy – Palace

first_imgPanelo added: “They should becomfortable. The fact is the President has dismantled many drug apparatus inthis country and jailed many police scalawags involved in the drug operationand arrested many people involved in pushing the illegal drugs and many havesurrendered, many have been rehabilitated.” President Duterte revealed in a forum in Sochi, Russia recently that there aretwo generals who are involved in the illegal drug trade but did not identifywhether they come from the police or military.Duterte’s statement came after the revelation at the Senate hearings thatoutgoing Philippine National Police chief General Oscar Albayalde asked to stopthe implementation of the dismissal order against 13 so called “ninja cops” whoconducted an anti-drug operation in Pampanga that was allegedly riddled withirregularities.The government’s war on drugs has been one of Duterte’s campaign promises. Itis still ongoing as of now despite receiving backlashes from the opposition aswell as from other countries./PN MANILA – President Rodrigo Duterte’scampaign against illegal drugs remains credible and won’t be affected bythe ongoing issue about “ninja cops,” according to Palace spokesperson SalvadorPanelo. “Because na-expose sila, kung na-expose sila di patay na sila, nasira na, na-derail na iyong kanilangprograma,” Panelo said. Panelo assured the public that they have nothing to worry about on the administration’santi-drug campaign since the crackdown will go on.“First, there have been many factories of shabu dismantled; second, many havebeen arrested and even with respect to the policemen – ilan ba iyong sinabi kong napatay na ano, 142 ba na police during the operations against the policemen, oh eh doon lang di successful ka na,” he said.last_img read more

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Man ‘accomplice’ in rape arrested in Calatrava

first_imgBACOLOD City – He is an accomplice in a rape case, police said. A P120,000 bail bond was recommended for his temporary liberty./PN The 18-year-old James Alforque was nabbed on the strength of an arrest warrant in Barangay Lo-ok, Calatrava, Negros Occidental, a police report showed. The suspect was detained in the lockup cell of the police station. Officers from the municipal police station served Alforque – resident of Barangay Macasilao, Calatrava – the warrant around 2:30 p.m. on June 9.last_img read more

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IU East, Ivy Tech sign guaranteed admissions agreement

first_imgRichmond, IN —Ivy Tech associate-level graduates from across Indiana are guaranteed admission, based on select provisions, into certain programs at all IU regional campuses via a Guaranteed Admission Agreement (GAA). The agreement took effective on June 1. The agreement aligns current best practices and the state’s established initiatives, the GAA spells out necessary coursework toward degree requirements at both institutions. Admission to all campuses also comes with an application fee waiver.“We have always had a very strong partnership with Ivy Tech,” Chancellor Kathy Girten said. “This agreement will continue the work we have done to provide a smooth transfer for students who have earned their associate’s degree to complete their bachelor’s degree at IU East.”This guaranteed admission eliminates any loss of credits while minimizing cost to students and ensuring they are able to complete their bachelor’s degrees on time.“Our regional campuses have continued to spark growth and innovation for students’ education and careers, exemplifying the hallmark of research, discovery, and service of IU’s 200-year history,” said John Applegate, IU executive vice president for university academic affairs. “These guaranteed admissions agreements solidify IU’s commitment to best practices in transfers and steady progress toward degrees.”IU East and Ivy Tech have a history of collaboration, especially in efforts to ease the transfer process. Pathways to IU East is a program to offer an affordable, accessible bridge from Ivy Tech Community College courses, credits, and associates degree programs to IU East baccalaureate degree programs.Ivy Tech students who want to take advantage of opportunities to transfer to IU East can work with their Ivy Tech academic advisors to confirm that their academic plan meets all the requirements.Students can further maximize savings on their degree by taking advantage of scholarship and grant opportunities at both institutions, which is critical to Hoosiers now more than ever during the COVID-19 crisis.For more information, visit iue.edu.last_img read more

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NOC mourns Abba Kyari

first_imgRelatedPosts Buhari to Okorocha @ 58: Your large heart will always stand you out Buhari to Kaduna indigenes: Without peace there can’t be development Buhari mourns Emir of Zazzau, Shehu Idris The Nigeria Olympic Committee has commiserated with its Grand Patron, President Muhammadu Buhari, over the demise of his Chief of Staff, Mallam Abba Kyari.This was contained in a letter signed by the President of the Nigeria Olympic Committee, Engr Habu Gumel, on Tuesday. Gumel said: “The late Chief of Staff will no doubt be remembered for his diligence and resolute commitment to nation building.“He was a man of integrity and hard work, who was loyal to His Excellency. His death has surely left a vacuum that will be difficult to fill.“On behalf of the Patrons, members of the Nigeria Olympic Committee, we commiserate with Mr President, the Federal Government, Borno State Government and his immediate family on the sad and irreparable loss.”Tags: Mallam Abba KyariMourningNigeria Olympic CommitteePresident Muhammadu Buharilast_img read more

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Minnows Bermuda gain historic berth as CONCACAF Gold Cup slate confirmed

first_imgBRIDGETOWN, Barbados, ,( CMC) – Minnows Bermuda reached the CONCACAF Gold Cup for the first time in their history when they came from behind to beat the Dominican Republic, while Haiti and Cuba also confirmed their spot among the 10 qualifiers, on the final night of Nations League qualifying on Sunday.In Santiago De Los Caballeros, Bermuda trounced the hosts 3-1 to finish fifth in the standings on nine points and book their place in the newly-expanded 16-team format of the continental championship from June 15 to July 7 this year.Bermuda suffered an early setback when Enmy Pena scored in the third minute to put the hosts ahead but United States-based winger Zeiko Lewis drew the visitors level 12 minutes later.With scores locked at the half-time whistle, England-based striker Nahki Wells gave Bermuda the lead in the 64th minute before Justin Donawa added the security goal in the 74th.At the Stade Sylvio Cator in Port-au-Prince, hosts Haiti edged Cuba 2-1 but both teams still progressed, despite the result.Scottish Premiership striker Duckens Nazon handed the hosts a 26th minute lead which held until the break, before Luis Paradela equalised in the 61st minute.However, Kevin Lafrance got the decisive goal three minutes from the end to snatch the points for Haiti and leave them top of the standings on 12 points.Cuba, meanwhile, finished sixth on nine points.In Vancouver, Lucas Cavallini netted a brace as Canada beat French Guiana 4-1 to finish second on 12 points while Central American nation Nicaragua edged Barbados 1-0 in Bridgetown to end ninth and also secure qualification.Grenada and Bonaire were also in winners row but their points were of academic value.The five teams joined Guyana, Curacao, El Salvador, Jamaica and Martinique who had already qualified over the weekend.Trinidad and Tobago, Costa Rica, Honduras, Mexico, Panama and United States gained automatic qualification after having participated in the 2018 FIFA World Cup final qualifying round.last_img read more

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