Defense Department agency suffers data breach: report

first_imgA Defense Department agency reportedly suffered a data breach last year that may have compromised personal information, including Social Security numbers, of victims involved.Reuters reported Thursday that the Defense Information Systems Agency (DISA) sent out a letter last week to all individuals affected by the breach, which DISA wrote took place between May and July of 2019.DISA told victims in the letter, which was also tweeted out by one of the potential victims earlier this week, that “some of your personal information, including your Social Security number, may have been compromised” due to a data breach of DISA’s systems. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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BTN upbeat over prospect of exceeding profit target as funding cost decreases

first_imgBank Indonesia (BI) has cut its benchmark interest rate four times by 25 basis points (bps) each so far this year in its effort to help the government cushion the adverse impact of the COVID-19 outbreak on the economy. At the same time, cooling economic activity has slowed loan demand and growth.Indonesian banks’ loan growth slumped to 1.49 percent year-on-year (yoy) in June from 3.09 percent in May. Meanwhile, third party funds grew 7.95 percent annually in June, slightly lower than 8.89 percent in May.The slowing loan demand helped improve BTN’s liquidity as its loan-to-deposit ratio (LDR) stood at 111.27 percent in the first half of this year, lower than 114.24 percent in the corresponding period of 2019. Its liquidity-to-coverage ratio (LCR), which measures a bank’s short-term liquidity resilience, rose to 132.22 percent in the first half of this year from 105.5 percent the year before.A lack of appetite for new loans, however,  resulted in the bank only recording 0.32 percent growth in loan disbursement as of June. The figure was far lower than the 18.78 percent recorded in the same period a year before. BTN, which focuses on mortgages, pocketed Rp 768 billion in net profit during the period, plunging by more than 41 percent annually. The steep drop was caused by a 5.86 percent annual decline in net interest income to Rp 4.44 trillion and skyrocketing loan-loss provision that went up 115.03 percent during the period.However, Pahala said the net profit figure was actually above the bank’s initial projection of around Rp 700 billion.“We’ve booked a pretty solid performance in the first half of this year so we are quite optimistic that we can exceed our target,” he said.BTN distribution and retail funding director Jasmin added that the bank’s ability to record positive, albeit slight, loan growth during the period was the result of increased demand for subsidized housing mortgages.“Subsidized housing mortgages grew 5.84 percent as of the second quarter of this year and this clearly shows that this will be our growth engine in the future,” he said.Although mortgages for non-subsidized housing contracted 1.96 percent during the period, Pahala said the segment had started to show signs of improvement in June.Demand for non-subsidized housing loans increased 40 percent in June compared to April and May, following the easing of large-scale social restrictions (PSBB), he added.BTN also reported a jump in its non-performing loan (NPL) ratio to 4.71 percent as of June, much higher than the 3.32 percent ratio recorded in the same period last year. It expects to further lower the ratio to 4.5 percent by the end of the year.The bank has restructured 36.46 trillion in loans from 230,000 borrowers as of June, with most of them being mortgage loans.“Customers can also extend their loan restructuring as long as they can provide proof that the pandemic has affected their income,” said Pahala.BTN shares, traded under the code BBTN on the Indonesia Stock Exchange (IDX), soared 3.72 percent as of 12:26 p.m. on Tuesday as the main gauge, the Jakarta Composite Index (JCI), jumped 1.13 percent. The stocks have lost 40.8 percent of their value this year.Topics : State-owned Bank Tabungan Negara (BTN) is optimistic that it will exceed its net profit target this year as the COVID-19 pandemic lowers its cost of funding.President director Pahala N. Mansury expressed his optimism on Monday that the publicly listed bank could book more profit than its initial projection of Rp 1.1 trillion (US$75.36 million) by the end of this year, supported by easing liquidity competition.“There is plenty of liquidity in the market right now as interest rates decline and loan demand slows, making competition for liquidity less fierce and helping us to improve our liquidity,” he said, adding that the bank’s cost of funding had decreased by 80 basis points during the first six months of the year from the same period last year.last_img read more

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USC Security Roundup

first_imgThe following incidents were reported in the USC Dept. of Public Safety incident report summary between Wednesday, Oct. 1, and Thursday, Oct. 2. Crimes against propertyat 5:12 p.m. on Oct. 1, it was reported that a suspect removed a bicycle secured to itself outside of May Ormerod Harris Hall, Quinn Wing & Fisher Gallery.at 5:59 p.m. on Oct. 1, a non-USC female backed her vehicle into a student’s vehicle at the intersection of 28th Street and Hoover Street. This caused minor damage to the student’s vehicle.at 9:15 p.m. on Oct. 1, it was reported that a suspect entered an unsecured gym at the Lyon Center and removed a cell phone left unattended on the floor.at 10:02 p.m. on Oct. 1, it was reported that a suspect entered an unsecured classroom in Mudd Hall and removed an unattended laptop computer.Miscellaneous incidentsAt 10:47 a.m. on Oct. 1, officers responded to Terrace Apartments to check on the welfare of a student who missed an appointment with a counselor and was not answering his phone. When officers contacted the student, he said he had been ill and had forgotten about his appointment.At 5:03 p.m. on Oct. 1, DPS officers responded to a student at College Residence Hall who reported that a suspect wrote lewd comments on a pieces of paper she had taped to her dorm room door on two separate occasions.At 11:31 p.m. on Oct. 1, two students were cited to Judicial Affairs for running around naked outside the Lambda Chi Alpha fraternity.last_img read more

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THE PERENNIAL FLOODING CHALLENGE

first_imgThe country must pay attention to the environmentFrom Ibadan, Oyo State, where a family lost its bread winner and two children to Abakaliki, Ebonyi State, where no fewer than a thousand people were rendered homeless, floods are again wreaking havoc in our country. In several parts of Nigeria within the past one month, villages and farmlands had been submerged and more people are swelling the population of the internally displaced. This perennial challenge should not be allowed to continue.Unfortunately, the situation was also avoidable in many instances. Just recently, the federal government requested Nigerians, particularly those living along the banks of the River Niger, to immediately relocate to safer places. The report indicated that the flood path traversing the Republics of Guinea, Mali, Niger and Nigeria would remain dangerous, warning that an estimated 105,000 Nigerians may be affected. Not many people heeded the warning. Now floods are occurring with a vengeance, endangering many people and bringing down everything on its path.Instructively, while Nigeria has many challenges, the environment is not often listed as one of them. It highlights a national malaise and our lackadaisical attitude to serious issues. It is therefore time Nigeria became part of the global trend of putting issues of the environment on the front burner while the relevant authorities should be proactive in preventing disasters. And when they inevitably occur, governments at all tiers, complemented by private sector organisations and well-endowed individuals, should come to the aid of the victims as we see in other parts of the world.Elementary science teaches that as global temperatures rise, oceans get warmer. When water heats up, it expands, leading to a rise in sea levels as we have been witnessing in several countries in recent times. It is therefore no surprise that in several coastal cities across the world today, climate change is creating a situation where too much water comes at an unexpected time, or in unexpected places causing serious problems. It is little wonder that the densely populated, low-lying cities and towns in our country have also become environmental nightmares for most of their inhabitants on account of flooding.However, beyond the intervention of the government at all levels is the need for Nigerians to begin to imbibe the right attitude to waste disposal because flooding in some of our major cities cannot be solely attributed to the quirks of nature. The habits of the people indeed play a crucial role in what has been happening over the years anytime it rains. Most drains are blocked due to the indiscriminate dumping of waste on the roads and drainages.This unsanitary attitude quite naturally leads to blockages of canals and man-holes resulting in the type of floods that have been witnessed in recent weeks. There are also several buildings that have been erected on drainage channels. This ugly trend must stop while the state government must ensure that all those buildings are pulled down for free flow of water into the canals.However, it is not enough for the government to just ask citizens to leave flood paths without providing any measures for their relocation. There is need therefore to resettle those living close to flood-prone areas. There will be resistance from some people, but they must be made to realise the consequences of whatever choice they make: between accepting to be resettled and staying back in their endangered communities.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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