Monthly Archives: May 2020

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MOC Municipal Office Center, February 2020(Photo: Brian Wells/Times Herald)

Port Huron could end its budget year in a deficit June 30, but city staff are being offered voluntary furloughs to help endure the financial impact of the coronavirus.

Our strongest revenue source, local income tax, is expected to lose in excess of $750,000 in the fourth quarter of the fiscal year, City Manager James Freed wrote City Council members in an email Friday night. The citys next first year begins July 1.

We also anticipate state revenue sharing will be significantly reduced, as well, he said. This will put a significant strain on our ability to operate as an organization.

The city first closed in-person services at the Municipal Office Center, events at McMorran Place and programs through the parks and recreation department in mid-March after the states first COVID-19 cases were confirmed. Like most other communities, administrative orders were also preventing water shut-offs if residents were unable to pay utility bills because of the virus.

But this spring, as the city prepares its budget for next year, theres still a lot of unknowns that officials said they cant yet account for.

Freed told officialshis goal was to achieve a 15-percent staff reduction within the next few weeks. The furloughs are something being offered to some employees, including police and fire officials, voluntarily now to provide some more immediate financial relief to city operations," he said.

Port Huron City Manager James Freed discusses measurements being taken by the city to prevent the spread of coronavirus during a media briefing Thursday, March 12, 2020, in the Municipal Office Center in Port Huron.(Photo: Brian Wells/Times Herald)

With the passage of the (federal) CARES Act and the additional level of unemployment benefits, some employees may find this to be a desirable option, he wrote.

Mayor Pauline Repp said furloughs arean option, which also allows employees to continue their health insurance to make sure theyre covered that way, that she hoped would keep Port Huron financially static and prevent layoffs later in 2020.

We dont know how this is going to affect us because we dont know how long its going to be, she said of the COVID pandemic and its response. Right now, if people are voluntarily doing it, it (helps).

On Sunday, Freed said he was already getting a sense that close to 30 or 40 employees may volunteer, adding, Its a significant amount of our employees will be taking advantage of it.

Currently, he said the city has about 230 full-time employees and 440 total with part-time staff. However, with the virus and the affect on operations, there was likely additionally 100 seasonal employees that we will not bring on this year.

Weare greatly reducing city operations for the next 90 to 100 days, Freed said.

A sign telling visitors that the playground is closed hangs on the play structure at Pine Grove Park Tuesday, March 24, 2020, in Port Huron. Based on recommendations from state and local health officials, it was ordered that all playground equipment in the city be closed until further notice to help prevent the spread of coronavirus, effective Monday.(Photo: Brian Wells/Times Herald)

Freed said the citys share of state Act 51 revenues, which are financed through a state gas tax, will also be impacted this year, meaning the citys streets division would be among its dramatic reductions in the upcoming budget.

Last Monday, at the end of a regular council meeting, Freedtold officials putting off things like scheduled capital projects may impact the next budget

Additionally, residents will continue to see a lack of in-person programming through parks and recreation. McMorran, which is managed by parks and rec, and city pools are not expected to open this summer because of social distancing orders.

In a news release, Parks and Rec Director Nancy Winzer said suspending face-to-face programming will also include sports, Camp Palmer, arts and nature classes, and most summer efforts.

Parks and rec facilities have already been closed to residents during the pandemic.

It would sadden us far more if you or your family came to harm due to our lack of action, Winzer said in the release. The Port Huron Recreation Department will, however, do all we can to continue to offer opportunities for families.

These opportunities may look differently than what we have seen in the past but will continue to keep our residents engaged in innovative recreational opportunities at this critical time. These new programs will be announced by the end of May.

Freed said there were also still a lot of uncertainties about city programs past this summer. He added, We dont even know if were going to have hockey this fall.

He said they want to maintain essential, core services but advised residents that this city will not be operating back to normal even as state COVID pandemic precautions begin to relax.

Freed said although furloughs were being offered citywide, parks and rec will be heavily impacted.

It would be silly to keep all these staffers when we cant provide the services, he said.

Repp added, Its not something we want to do, but certainly, its needed because we dont know what the impact is going to be financially for a while yet.

Jackie Smith is the local government reporter for the Times Herald. Have questions or a story idea? Contact her at (810) 989-6270 or jssmith@gannett.com. Follow her on Twitter @Jackie20Smith.

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Port Huron offering city employees voluntary furloughs in wake of COVID-19 - The Times Herald

The coronavirus pandemic has essentially brought the economy to a standstill, causing thousands of businesses to close their doors and resulting in millions of layoffs. The organizations that are fortunate enough to stay open have also faced challenges, many of them experiencing cash flow problems as more Americans are asked to stay home.

As a result of these budget strains, some organizations have opted to slash employee benefits, including 401(k) plans. While some companies have simply suspended employer-matching contributions, others have decided to terminate their plans altogether to save money. Here's what to do if that happens to you.

Image source: Getty Images

The good news is that relatively few organizations are ditching their 401(k) plans entirely. Only around 1.3% of companies said they plan to terminate their 401(k) plan due to COVID-19, according to a recent survey from the Plan Sponsor Council of America. Approximately 16% are temporarily suspending matching contributions, and nearly 77% said they're not planning on making any changes at all to their plans.

However, the not-so-good news is that workers may not be in the clear just yet. Small businesses, in particular, are at a higher risk of facing financial problems as a result of the coronavirus pandemic, so they may be more likely to have to make changes to their 401(k) plans if money gets tight.

Approximately 42% of small businesses might be at risk of eliminating their 401(k) plans due to COVID-19, according to a report from the American Society of Pension Professionals and Actuaries. That's around 216,000 retirement plans that are at risk of termination, the report revealed.

If your 401(k) plan is terminated, or you're concerned it might be in the future, you can still save for retirement. You have other options, and you shouldn't need to put your retirement plans on hold if you lose your 401(k).

You don't need a 401(k) plan to save for retirement, and if you lose your plan through your employer, you have a couple of options: Roll your money into a traditional IRA or Roth IRA, or withdraw your cash.

The option to avoid is withdrawing money from your 401(k). When you withdraw your savings from your 401(k) before age 59-1/2, you're typically faced with a 10% penalty and income taxes on the amount you withdraw. Under the CARES Act, the 10% penalty is temporarily waived, but you'll still need to pay income taxes on your distribution, although you do have three years to pay these taxes, thanks to the new regulations. If you have a significant amount of cash in your 401(k), though, that can be a hefty tax bill.

In addition, by withdrawing your cash now, you're taking away your money's growth potential. Your retirement investments need as much time as possible to compound, and if you stick them in a checking or savings account, you're essentially pressing pause on your retirement strategy.

To avoid withdrawing your savings, you can either roll your money over into a traditional IRA or a Roth IRA. Both are strong options, and they differ in one key aspect: Taxes. With a traditional IRA, you'll get a tax deduction when you make the initial contribution, but you'll have to pay income taxes on your withdrawals. With a Roth IRA, you'll pay taxes now, but your distributions will be tax-free.

You can't go wrong with either option, but right now might be a particularly good time to opt for a Roth IRA. You will need to pay income taxes on the amount you roll into your Roth account, but because the stock market has taken a tumble over the past few months, you probably don't have as much in your 401(k) right now as you did a few months ago. That means if you convert to a Roth now, your tax bill will be smaller -- and your retirement withdrawals will be tax-free. If you opt for a traditional IRA, you won't pay any taxes right now, but you may face a higher tax bill in retirement when you start making withdrawals.

COVID-19 has turned the world upside down and affected nearly every aspect of our lives, and it's also having an impact on 401(k) plans. However, even if your 401(k) is eliminated, you don't have to let it derail your retirement. By rolling your money over into a new account, you can ensure your plans stay on track.

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Employers Could Terminate Your 401(k) Plan Due to COVID-19. What to Do if It Happens. - The Motley Fool

More than a million people diagnosed with COVID-19 have now recovered from the disease. Health workers hold signs beside a 16-day-old baby who recovered from COVID-19, as he is discharged from the National Childrens Hospital in Quezon city, Metro Manila, Philippines earlier this week. Nicknamed Kobe, the infant was the first COVID-19 patient to be discharged at the childrens hospital.

Aaron Favila/AP

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Aaron Favila/AP

More than a million people diagnosed with COVID-19 have now recovered from the disease. Health workers hold signs beside a 16-day-old baby who recovered from COVID-19, as he is discharged from the National Childrens Hospital in Quezon city, Metro Manila, Philippines earlier this week. Nicknamed Kobe, the infant was the first COVID-19 patient to be discharged at the childrens hospital.

Aaron Favila/AP

More than 1 million people around the world have recovered from COVID-19, according to data collected by Johns Hopkins University.

Around 154,000 people in the United States have recovered from the deadly virus.

Although people who recover from a viral infection often build up an immunity to later contracting the same disease, it remains unclear whether this is the case for COVID-19. The World Health Organization said last week that one-time infection of the coronavirus has not yet been proven to result in immunity.

The U.S. currently has the most confirmed COVID-19 cases of any nation, with more than 1 million. It was just less than a month ago when the disease crossed the 1 million case threshold globally.

Globally, there are more than 3.27 million confirmed cases. Spain, Italy, the United Kingdom, France and Germany have each reported more than 160,000 COVID-19 cases.

Deaths caused by the coronavirus total around 235,000 globally. In the U.S., more than 60,000 people have died because of the coronavirus.

New York City and surrounding areas have been hard-hit by COVID-19: More than 18,000 people have died in the countrys largest city. Other hotspots range from Cook County, Illinois, to Wayne County, Michigan.

The U.S. hit a milestone in testing this week, surpassing 6 million tests administered.

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More than 1 Million People Recover from COVID-19 : Coronavirus Live Updates - dineshr

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You don't need an appointment to get tested for COVID-19 at this site on Monday - KMOV.com

In many ways, the COVID-19 pandemic has been a boon to cybercriminals: With unprecedented numbers of people working from home and anxious for news about the virus outbreak, its hard to imagine a more target-rich environment for phishers, scammers and malware purveyors. In addition, many crooks are finding the outbreak has helped them better market their cybercriminal wares and services. But its not all good news: The Coronavirus also has driven up costs and disrupted key supply lines for many cybercriminals. Heres a look at how theyre adjusting to these new realities.

One of the more common and perennial cybercriminal schemes is reshipping fraud, wherein crooks buy pricey consumer goods online using stolen credit card data and then enlist others to help them collect or resell the merchandise.

Most online retailers years ago stopped shipping to regions of the world most frequently associated with credit card fraud, including Eastern Europe, North Africa, and Russia. These restrictions have created a burgeoning underground market for reshipping scams, which rely on willing or unwitting residents in the United States and Europe derisively referred to as reshipping mules to receive and relay high-dollar stolen goods to crooks living in the embargoed areas.

A screen shot from a user account at Snowden, a long-running reshipping mule service.

But apparently a number of criminal reshipping services are reporting difficulties due to the increased wait time when calling FedEx or UPS (to divert carded goods that merchants end up shipping to the cardholders address instead of to the mules). In response, these operations are raising their prices and warning of longer shipping times, which in turn could hamper the activities of other actors who depend on those services.

Thats according to Intel 471, a cyber intelligence company that closely monitors hundreds of online crime forums. In a report published today, the company said since late March 2020 it has observed several crooks complaining about COVID-19 interfering with the daily activities of their various money mules(people hired to help launder the proceeds of cybercrime).

One Russian-speaking actor running a fraud network complained about their subordinates (money mules) in Italy, Spain and other countries being unable to withdraw funds, since they currently were afraid to leave their homes, Intel 471 observed. Also some actors have reported that banks customer-support lines are being overloaded, making it difficult for fraudsters to call them for social-engineering activities (such as changing account ownership, raising withdrawal limits, etc).

Still, every dark cloud has a silver lining: Intel 471 noted many cybercriminals appear optimistic that the impending global economic recession (and resultant unemployment) will make it easier to recruit low-level accomplices such as money mules.

Alex Holden, founder and CTO of Hold Security, agreed. He said while the Coronavirus has forced reshipping operators to make painful shifts in several parts of their business, the overall market for available mules has never looked brighter.

Reshipping is way up right now, but there are some complications, he said.

For example, reshipping scams have over the years become easier for both reshipping mule operators and the mules themselves. Many reshipping mules are understandably concerned about receiving stolen goods at their home and risking a visit from the local police. But increasingly, mules have been instructed to retrieve carded items from third-party locations.

The mules dont have to receive stolen goods directly at home anymore, Holden said. They can pick them up at Walgreens, Hotel lobbies, etc. There are a ton of reshipment tricks out there.

But many of those tricks got broken with the emergence of COVID-19 and social distancing norms. In response, more mule recruiters are asking their hires to do things like reselling goods shipped to their homes on platforms like eBay and Amazon.

Reshipping definitely has become more complicated, Holden said. Not every mule will run 10 times a day to the post office, and some will let the goods sit by the mailbox for days. But on the whole, mules are more compliant these days.

KrebsOnSecurity recently came to a similar conclusion: Last months story, Coronavirus Widens the Money Mule Pool, looked at one money mule operation that had ensnared dozens of mules with phony job offers in a very short period of time. Incidentally, the fake charity behind that scheme which promised to raise money for Coronavirus victims has since closed up shop and apparently re-branded itself as the Tessaris Foundation.

Charitable cybercriminal endeavors were the subject of a report released this weekby cyber intel firm Digital Shadows, which looked at various ways computer crooks are promoting themselves and their hacking services using COVID-19 themed discounts and giveaways.

Like many commercials on television these days, such offers obliquely or directly reference the economic hardships wrought by the virus outbreak as a way of connecting on an emotional level with potential customers.

The illusion of philanthropy recedes further when you consider the benefits to the threat actors giving away goods and services, the report notes. These donors receive a massive boost to their reputation on the forum. In the future, they may be perceived as individuals willing to contribute to forum life, and the giveaways help establish a track record of credibility.

Brians Club one of the undergrounds largest bazaars for selling stolen credit card data and one that has misappropriated this authors likeness and name in its advertising recently began offering pandemic support in the form of discounts for its most loyal customers.

It stands to reason that the virus outbreak might depress cybercriminal demand for dumps, or stolen account data that can be used to create physical counterfeit credit cards. After all, dumps are mainly used to buy high-priced items from electronics stores and other outlets that may not even be open now thanks to the widespread closures from the pandemic.

If that were the case, wed also expect to see dumps prices fall significantly across the cybercrime economy. But so far, those price changes simply havent materialized, says Gemini Advisory, a New York based company that monitors the sale of stolen credit card data across dozens of stores in the cybercrime underground.

Stas Alforov, Geminis director of research and development, said theres been no notable dramatic changes in pricing for both dumps and card data stolen from online merchants (a.k.a. CVVs) even though many cybercrime groups appear to be massively shifting their operations toward targeting online merchants and their customers.

Usually, the huge spikes upward or downward during a short period is reflectedby a large addition of cheap records that drive the median price change, Alforov said, referring to the small and temporary price deviations depicted in the graph above.

Intel 471 said it came to a similar conclusion.

You might have thought carding activity, to include support aspects such as checker services, would decrease due to both the global lockdown and threat actors being infected with COVID-19, the company said. Weve even seen some actors suggest as much across some shops, but the reality is there have been no observations of major changes.

Interestingly, the Coronavirus appears to have prompted discussion on a topic that seldom comes up in cybercrime communities i.e., the moral and ethical ramifications of their work. Specifically, there seems to be much talk these days about the potential karmic consequences of cashing in on the misery wrought by a global pandemic.

For example, Digital Shadows said some have started to question the morality of targeting healthcare providers, or collecting funds in the name of Coronavirus causes and then pocketing the money.

One post on the gated Russian-language cybercriminal forum Korovka laid bare the question of threat actors moral obligation, the company wrote. A user initiated a thread to canvass opinion on the feasibility of faking a charitable cause and collecting donations. They added that while they recognized that such a plan was cruel, they found themselves in an extremely difficult financial situation. Responses to the proposal were mixed, with one forum user calling the plan amoral, and another pointing out that cybercrime is inherently an immoral affair.

Tags: alex holden, Coronavirus, COVID-19, Gemini Advisory, Intel 471, money mules, reshipping mules, Snowden, Stas Alforov

This entry was posted on Thursday, April 30th, 2020 at 2:20 pmand is filed under Ne'er-Do-Well News, Other, Web Fraud 2.0.You can follow any comments to this entry through the RSS 2.0 feed.You can skip to the end and leave a comment. Pinging is currently not allowed.

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How Cybercriminals are Weathering COVID-19 - Krebs on Security

More than 300,000 in the UK may have quit smoking during the coronavirus crisis as evidence mounts that the habit makes them more vulnerable to Covid-19, a survey suggests.

A further 550,000 have tried to quit, while 2.4 million have cut down, according to the joint study by YouGov and the campaign group Action on Smoking and Health (Ash).

The survey of 1,004 people suggested 2% of smokers had quit because of concerns about coronavirus; 8% were trying to quit; 36% had cut down; and 27% were now more likely to quit.

A quarter of former smokers said they were less likely to resume smoking, although 4% said the pandemic had made them more likely to relapse.

The results of the survey were welcomed by several health and anti-smoking organisations in a statement released by #QuitforCOVID Twitter campaign.

Dr Nick Hopkinson, the chairman of Ash who is also a respiratory specialist at Imperial College London, said: Smoking harms the immune system and our ability to fight off infections. Evidence is growing that smoking is associated with worse outcomes in those admitted to hospital with Covid-19.

Quitting smoking also rapidly reduces peoples risk of other health problems such as heart attacks and strokes. Those are bad whenever they happen, so preventing them is an end in itself and is especially important at a time like now when everyone is keen to stay out of hospital.

Ruth Tennant, the tobacco lead for the Association of Directors of Public Health, said: There are so many reasons to quit smoking but never a more important time than right now during the coronavirus pandemic.

The founder of the #QuitforCOVID campaign urged more people to stop smoking during the pandemic and beyond.

Stopping smoking remains the single biggest thing people can do to improve their overall health, said Dr Charlie Kenward, a GP from Bristol. It will improve heart and lung health as well as reducing the chances of developing cancer and even improve wound healing after surgery. There has never been a better time to quit.

Cllr Ian Hudspeth, the community wellbeing board chairman at the Local Government Association, said: Councils can help the government to achieve its ambition of eliminating smoking in England by 2030, through their tobacco control and other public health and support services, but need certainty over their long-term funding to help do so.

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More than 300,000 UK smokers may have quit owing to Covid-19 fears - The Guardian

A new strain of Coronavirus, COVID 19, is spreading around the world, causing deaths and major disruption to the global economy.

Responding to this crisis requires global cooperation among governments, international organizations and the business community, which is at the centre of the World Economic Forums mission as the International Organization for Public-Private Cooperation.

The Forum has created the COVID Action Platform, a global platform to convene the business community for collective action, protect peoples livelihoods and facilitate business continuity, and mobilize support for the COVID-19 response. The platform is created with the support of the World Health Organization and is open to all businesses and industry groups, as well as other stakeholders, aiming to integrate and inform joint action.

As an organization, the Forum has a track record of supporting efforts to contain epidemics. In 2017, at our Annual Meeting, the Coalition for Epidemic Preparedness Innovations (CEPI) was launched bringing together experts from government, business, health, academia and civil society to accelerate the development of vaccines. CEPI is currently supporting the race to develop a vaccine against this strand of the coronavirus.

1. How COVID-19 is affecting the globe

Testing is key in battling COVID-19, but where is testing the most prevalent? According to data from the Organization for Economic Co-operation and Development (OECD), Iceland, Luxembourg and Estonia have tested more of their population for coronavirus than any other countries.

The lowest levels of testing in OECD countries are in Mexico (0.4), Japan (1.8) and Greece (5.8). The average testing rate for all OECD countries is 22.9 tests per 1,000.

Top officials have welcomed announcements to boost testing including OECD Secretary-General ngel Gurra who said increasing testing capacity was essential to start easing lockdowns and to reduce the risk of new outbreaks.

Diagnostics testing for COVID-19 in OECD countries

Image: OECD

Though passenger planes have seen steep declines, cargo planes are facing a surge in demand to respond to the need for supplies during the COVID-19 crisis. Slowing efforts are a slew of new guidelines, including fast-changing border restrictions and quarantines for crew. Airlines are lobbying for governments to respond with practical exemptions, writes Isobel Fenton, Platform Curator, Aviation & Aerospace, World Economic Forum. A two-week delay for essential supplies is clearly unacceptable, she says.

Looking for an escape? Literature instructor Christine Berberich from the University of Portsmouth shared a selection of books to enjoy during lockdown in a recent article for the Conversation. These books, including Kazuo Ishiguros The Remains of the Day and Rohinton Mistrys A Fine Balance engross their readers in their characters lives and transport them to another world.

On this weeks World Vs Virus podcast, our colleague David Knowles interviews science Journalist Laura Spinney about her book, Pale Rider, an exploration into the history of the Spanish Flu. The flu changed the world in many important ways, says Spinney, and there are some important lessons for how we respond to the ongoing coronavirus pandemic..

The World Versus Virus podcast is available on Apple Podcasts as part of its Essential Listening collection. The podcast is also available on Spotify and Libsyn.

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World Economic Forum articles may be republished in accordance with our Terms of Use.

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Linda Lacina, Digital Editor, World Economic Forum

The views expressed in this article are those of the author alone and not the World Economic Forum.

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COVID-19: What you need to know about the coronavirus pandemic on 1 May - World Economic Forum