Man accused of targeting Black neighbor with swastika, slurs – STLtoday.com

INDIANAPOLIS (AP) An Indiana man, allegedly angered by the removal of a tree, is charged with a hate crime for attempting to intimidate an African American neighbor because of his race, the U.S. Justice Department announced Thursday.

Shephard Hoehn, 50, became angry when a construction crew began removing a tree from the neighbors property on June 18, according to the Justice Department. Hoehn allegedly burned a cross next to a fence near the neighbors property; displayed a swastika and displayed a large sign containing a variety of anti-Black racial slurs. Hoehn also allegedly threw eggs at the neighbor's home and played the song ``Dixie repeatedly.

Although the First Amendment protects hateful, ignorant and morally repugnant beliefs and speech, it does not protect those who choose to take criminal actions based on those beliefs, said U.S. Attorney Josh Minkler. This office will continue to prosecute federal hate crimes to the fullest extent of the law.

Efforts to reach Hoehn were unsuccessful because a telephone number couldn't be found. It wasnt immediately known if Hoehn had a lawyer to speak on his behalf.

According to the criminal complaint filed in the U.S. District Court for the Southern District of Indiana, Hoehn admitted to actions listed in the court document during interviews with FBI agents. He allegedly said he knew the racial connotations of his actions, that he knew his actions would be disturbing to his neighbor because he is Black, and that he took such actions because he knew they would evoke an emotional response in his neighbor. However, Hoehn asserted he wasn't a racist and he was exercising his First Amendment rights.

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Man accused of targeting Black neighbor with swastika, slurs - STLtoday.com

Chicagos first trial of pandemic ends with conviction, juror praise – Chicago Sun-Times

Chicagos first jury trial since the start of the coronavirus pandemic ended Thursday when federal jurors, clad in face masks, convicted an Ottawa man of threatening an FBI task force officer and others.

That trial played out amid the new normal that also includes hand sanitizer and constant social distancing, though. So after the trial ended, a few jurors offered their own verdict on the new safety protocols for jury trials at the Dirksen Federal Courthouse.

I felt like they were extremely thorough, Elizabeth Reihl said. I think they walked through the juror experience from the very beginning from where you park. I can tell that they looked through the full process and did every checkpoint.

Under the new jury trial plan at Dirksen, jurors have been spread out beyond the traditional jury box, and theyve been allowed to take breaks and deliberate in a separate courtroom. Public seating has been limited, and witnesses have been asked to wipe down the witness stand when their testimony ends. Jurors have also been given plastic bags filled with supplies.

Theyve got a little hand sanitizer in there and sanitizing wipes, said Elizabeth Boyd, who said she also had a positive experience serving as a juror this week.

Reihl said jury service is a chance to see democracy up close. Having served on two state court juries previously, she called it a beautiful, beautiful thing, and its nothing to get out of or try to avoid.

U.S. District Judge Edmond Chang acknowledged the jurors unusual service following the verdict that found Robert Haas, 40, guilty on 13 criminal counts.

This was the first jury trial that has been held in this courthouse since early March, Chang said. Youve shown extraordinary dedication to serving your community. It makes me proud to be an American.

Earlier Thursday, Assistant U.S. Attorney Barry Jonas delivered his closing argument while masked and seated at the government table. He still moved around in his chair and gestured with his hands for effect, telling jurors that Haas was an angry person with anti-Semitic beliefs. He said that wasnt why Haas was on trial, though.

This case is not about his beliefs, Jonas said. Its not about his anger. Its not about his hatred. This case is about the threats.

Prosecutors said Haas crossed a legal line when he leveled several threats toward an FBI task force officer and others through text messages, voicemails and online social media posts, as well as in recorded comments following his arrest in June 2019.

I dont care if its a cop, prosecutor, judge, politician or elite, Haas allegedly wrote in one online post. You try to stop me from telling the truth I will cut every throat in your home. Try me!

Haas represented himself and testified Wednesday with help of a stand-by attorney appointed by the judge. During his cross-examination, he admitted making several of the comments at issue. Assistant U.S. Attorney Erin Kelly even asked him whether he believed the FBI task force officer should be killed.

In a way, yes, I do, Haas said.

During his closing argument Thursday, Haas said he was goaded into making the comments by federal agents who tried to chill his First Amendment rights. He previously told the jurors he lived in Moscow for a year and found a lot of things that the federal government and the people who provide our media to us are hiding from us.

They dont want you to see the real threat because its so disgusting that it will change your opinion, Haas said Thursday.

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Chicagos first trial of pandemic ends with conviction, juror praise - Chicago Sun-Times

AFP says it made three requests for assistance in breaking encryption in 2019-20 – iTWire

The Australian Federal Police has told the Parliamentary Joint Committee on Intelligence and Security that it has used technical assistance requests issued under the encryption law passed in December 2018 on three occasions in the financial year 2019-20, to obtain assistance from companies or individuals in breaking encryption to gain access to information needed for investigation of crimes.

Under the law, which is officially known as the Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018, technical assistance requests seek voluntary help by a company; its staff will be given civil immunity from prosecution.

If this is not agreed to by the company in question, an interception agency can then issue a technical assistance notice or TAN to make a communications provider offer assistance based on existing functionality.

If this is not effective either in convincing the organisation in question to co-operate with law enforcement, then a technical capability notice can be issued by the Attorney-General at the request of an interception agency.

In a submission to the PJCIS, the AFP said as per previous submissions and appearances before the panel and in the review of the law by the Independent National Security Legislation Monitor, Dr James Renwick, the tempo and complexity of the criminal threat environment was evolving with increasing use of technology by criminal groups and their networks, to facilitate and obfuscate criminal conduct.

The AFP said the encryption law provided an essential framework to strengthen the AFPs ability to overcome technological impediments to lawful access to digital content, where necessary and appropriate.

For the previous financial year, the AFP said it had used the technical assistance requests on five occasions. This was in a much shorter period than the full 12 months, as the law came into effect only in December 2018; hence the period over which these five TARs were made was from December 2018 to 30 June 2019, a little more than six months.

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AFP says it made three requests for assistance in breaking encryption in 2019-20 - iTWire

Beyond Krk: Even more WiFi chips vulnerable to eavesdropping – We Live Security

At Black Hat USA 2020, ESET researchers delved into details about the Krk vulnerability in Wi-Fi chips and revealed that similar bugs affect more chip brands than previously thought

Krk (formally CVE-2019-15126) is a vulnerability in Broadcom and Cypress Wi-Fi chips that allows unauthorized decryption of some WPA2-encrypted traffic. Specifically, the bug has led to wireless network data being encrypted with a WPA2 pairwise session key that is all zeros instead of the proper session key that had previously been established in the 4-way handshake. This undesirable state occurs on vulnerable Broadcom and Cypress chips following a Wi-Fi disassociation.

Figure 1. Overview of Krk following a disassociation, data is transmitted encrypted with an all zero session key

Exploiting Krk allows adversaries to intercept and decrypt (potentially sensitive) data of interest and, when compared to other techniques commonly used against Wi-Fi, exploiting Krk has a significant advantage: while they need to be in range of the Wi-Fi signal, the attackers do not need to be authenticated and associated to the WLAN. In other words, they dont need to know the Wi-Fi password.

We worked with the affected vendors (as well as ICASI) through a responsible disclosure process before we first publicly disclosed the flaw at the RSA Conference in February 2020. The ensuing publicity brought the issue to the attention of many more chipset and device manufacturers, some of which discovered they also had vulnerable products and have since deployed patches. We are maintaining a list of related vendor advisories on this webpage[1].

While we did not observe CVE-2019-15126 in other Wi-Fi chips than Broadcom and Cypress, we did find that similar vulnerabilities affected chips by other vendors. These findings were first presented at Black Hat USA 2020 and were briefly outlining them below.

One of the chips we looked at, aside from those from Broadcom and Cypress, was by Qualcomm. The vulnerability we discovered (which was assigned CVE-2020-3702) was also triggerable by a disassociation and led to undesirable disclosure of data by transmitting unencrypted data in the place of encrypted data frames much like with Krk. The main difference is, however, that instead of being encrypted with an all-zero session key, the data is not encrypted at all (despite the encryption flags being set).

The devices we tested and found to have been vulnerable are the D-Link DCH-G020 Smart Home Hub and the Turris Omnia wireless router. Of course, any other unpatched devices using the vulnerable Qualcomm chipsets will also be vulnerable.

Following our disclosure, Qualcomm was very cooperative and in July released a fix to the proprietary driver used in their officially supported products. Not all devices with Qualcomm chips use this proprietary driver, however in some cases, open source Linux drivers are used such as the upstream ath9k driver, for example. As its not actively developed by Qualcomm, its not clear at the time of writing if it will receive a patch from Qualcomm or the open-source community.

We also observed the manifestation of a similar vulnerability (i.e. lack of encryption) on some Wi-Fi chips by MediaTek.

One of the affected devices is the ASUS RT-AC52U router. Another one is the Microsoft Azure Sphere development kit, which we looked into as part of our Azure Sphere Security Research Challenge partnership. Azure Sphere uses MediaTeks MT3620 microcontroller and targets a wide range of IoT applications, including smart home, commercial, industrial and many other domains.

According to MediaTek, software patches fixing the issue were released during March and April 2020. The fix for MT3620 was included in Azure Sphere OS version 20.07, released in July 2020.

As more than five months have passed since we publicly disclosed the Krk vulnerability and several proofs-of-concept have been published by independent researchers weve decided to release the script weve been using to test whether devices are vulnerable to Krk. We have also included tests for the newer variants described here. This script can be used by researchers or device manufacturers to verify that specific devices have been patched and are no longer vulnerable.

Special thanks to our colleague Martin Kalunk, who greatly contributed to this research.

[1] If you have an advisory you would like added to this list please contact us at threatintel[at]eset.com.

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Beyond Krk: Even more WiFi chips vulnerable to eavesdropping - We Live Security

Cryptocurrency Market News: $1.2 billion in Bitcoin was withdrawn out of exchanges in the past week – FXStreet

BTC/USD continues trading below $12,000 although bulls are getting closer to the crucial resistance level.

ETH/USD has stabilized around $400 which is the most important resistance point in the short-term.

XRP/USD has been able to stay above $0.30 in the past 24 hours while the daily 100-EMA and the 200-EMA are getting closer to a bull cross not seen since two years ago.

According to Genesis, a digital currency broker, and DeFi leader, Q2 marked around $2.2 billion in originations which is a 324% increase over the last year.

German police have seized around $30 million in crypto from movie2k.to, a streaming service that used to hold illegal movies. It seems that the revenue of the website was used to buy Bitcoin worth around $30 million today. The report alleges that the sites programmer has acquired more than 22,000 Bitcoin in total.

A new crypto derivatives exchange called Alpha5 has raised more than $1.5 million in their initial seed funding round. Announced around December 2019, Alpha intends to become an all-in crypto exchange with many unique features like a late liquidity pool and credit proxy futures.

What cant kill Bitcoin, makes it stronger.

Mark Wittkowski

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Cryptocurrency Market News: $1.2 billion in Bitcoin was withdrawn out of exchanges in the past week - FXStreet

War crimes – The News International

This week marks the 75th anniversary of the detonation of US nuclear bombs on the Japanese cities of Hiroshima (August 6, 1945) and Nagasaki (August 9) during World War II. The death toll of the two atomic assaults has been estimated at over 225,000 people, with many of them killed instantly, while others died later from radiation exposure.

In the aftermath of the bombing of Japan, and for decades afterward, US authorities suppressed the military footage shot in Hiroshima and Nagasaki. With government propaganda and censorship, the public was kept in dark about the scale of damage and human suffering inflicted. August's US nuclear strike turned Japanese soil into a toxic disarray where no life would grow for another 75 years. Contrary to their declared target (the Japanese Army headquarters), the bomb blast seared people to death: women, children and elderly, and those who werent in a uniform, indiscriminately causing long-term health effects in those who survived the blast.

British investigative journalist Robert Fisk once said, War is a total failure of the human spirit. The fallout of the atomic bomb represents the fall of humanity and loss of its dignity. It has not only taught people all over the world about the horrors of nuclear weapons, but also emphasized the crucial role of the media in preventing terrible human errors during a time of war.

In recent years, under the Trump administration, the free press has become severely threatened. On numerous occasions, President Trump has expressed outrage toward leakers, and media organizations using such leaks to disclose classified information. With the US governments prosecution of WikiLeaks publisher Julian Assange, the hostility of the Trump Administration toward the media has now escalated into criminalization of journalism.

Assange has been indicted on 17 counts under the Espionage Act of 1917 and one charge of conspiring with a source to violate the Computer Fraud and Abuse Act for his reporting on the US wars in Iraq and Afghanistan and the torture at Guantanamo Bay. Assange is being held on remand in Belmarsh Prison, solely on the basis of a US extradition request. He would face 175 years in prison if convicted.

Assanges extradition is recognized by free speech groups as the most important press freedom case of the 21st century. What is this prosecution of a publisher really about? Here, a story of an Australian journalist who exposed the brutal truth of war at the end of WWII can provide a historical context and help us better understand the significance of this case.

Wilfred Burchett has become known as the first Western journalist to enter Hiroshima after the city was bombed, where he reported from one of the few hospitals operating. In the story headlined The Atomic Plague, Burchett wrote, Hiroshima looks as if a monster steamroller had passed over it and squashed it out of existence. The Melbourne war correspondent indicated that civilians were suffering from more than big blisters with their hair falling out.

Burchetts dispatch often referred to as the Scoop of the Century was denied by the US administration.

Excerpted from: 'From Bombing of Hiroshima to Collateral Murder; War Crimes of Empire and Prosecution of Free Press'.

Commondreams.org

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War crimes - The News International

Ninth Circuit Court of Appeals refuses to hear Socialist Equality Party candidates’ appeal in California voting rights case until after ballots are…

By Shuvu Batta 6 August 2020

A panel of three judges on the Ninth Circuit Court of Appeals has denied a request by the Socialist Equality Partys candidates Joseph Kishore and Norissa Santa Cruz for their appeal to be heard before ballots are printed in California.

On July 27, a panel of three Ninth Circuit judges issued a decision that reads, in its entirety: In light of the late date of the appeal, it cannot be calendared for resolution prior to August 26, 2020. The previously established briefing schedule remains in effect. The "previously established briefing schedule" will result in the case being heard after ballots are already printed.

In response, candidates filed an emergency motion for reconsideration. This motion was denied yesterday, August 5, in a one-sentence decision that states only that the motion was "denied," without giving any reasons.

The decisions denying the candidates requests for an expedited schedule were made by Chief Judge Sidney R. Thomas (appointed by Democrat Bill Clinton) and Circuit Judges Mary M. Schroeder (appointed by Democrat Jimmy Carter) and Consuelo Callahan (appointed by Republican George W. Bush).

The ruling means that that the clock will effectively run out on the SEP candidates' case. The ballots will be printed without the SEP candidates' names on them before the Ninth Circuit judges will make any decision on the candidates' right to have their names printed on the ballots.

In the SEP candidates' lawsuit against California Governor Gavin Newsom and California Secretary of State Alex Padilla, the candidates challenged the states decision to enforce its ballot access requirements, which require independent candidates to collect nearly 200,000 physical signatures in order to appear on the ballot, in the middle of the raging pandemic.

In California, petitioning for ballot access opens up in April and closes by August, leaving independent candidates 15 weeks to accomplish this task15 weeks in 2020 that were marked by a state lockdown and a a deadly infection spreading out of control.

The SEP initially filed the lawsuit on June 30. On July 12, the Attorney General for California responded on behalf of Newsom and Padilla, arguing that if the Socialist Equality Party candidates won their lawsuit it would cause an unmanageable and overcrowded ballot for the November presidential general election that would cause voter confusion and frustration of the democratic process.

The SEP candidates replied to this argument three days later, pointing out that it was California state officials who are frustrating the democratic processby insisting on the enforcement of ballot access requirements that are effectively impossible for Plaintiffs to comply with without endangering the safety and lives of their supporters and the public at large.

On July 20, District Judge Dolly M. Gee, nominated by former president Barack Obama, ruled against Kishore and Santa Cruz. She claimed that the SEPs candidates could have avoided the understandable risks of the virus, among other methods, by simply using face coverings and social distancing and gathering signatures in front of grocery stores.

The attorneys for the SEP contested this decision, appealing to the Ninth Circuit Court of Appeals. Alongside this appeal, a motion was made to expedite the case so that the appeal could be heard before the state of California printed its ballots on August 28.

On July 31, the attorneys for Kishore and Santa Cruz also filed an opening brief outlining the history of the case, pointing to the fundamental democratic and constitutional rights involved, and arguing for the right to ballot access.

The brief explained that Kishore and Santa Cruz launched their campaign in January but were prevented from gathering signatures by the pandemic and the states measures to combat it. The brief detailed the SEP's long, rich political history in California, and argued that there are less-than-lethal ways of testing whether the candidates can establish enough support to merit ballot access. The SEPs past candidates in the state have won tens of thousands of votes, the brief explained.

In response to Judge Gees claims that wearing of masks and social distancing would suffice to protect signers and SEP volunteers from COVID-19, the SEP candidates highlighted the uncontradicted testimony of a veteran SEP campaigner, who explained that it is not possible to safely collect signatures under present conditions. Placing campaigners and supporters in this situation means in effect that the state is requiring the people to risk serious illness or death as a condition for exercising the basic right to vote and participate in elections.

Judge Gee had further claimed that social media could be used to gather the signatures, but the SEP candidates submitted uncontroverted evidence in court that the SEP has been struggling for years against censorship on these platforms.

"The private technology monopolies claim that. .. speech can be censored on these platforms without regard for First Amendment protections," the SEP candidates argued. "For this reason, the exercise of [the SEP candidates'] core democratic and constitutional rights cannot be outsourced to the private social media platforms and made subject to the whims and caprices of the private owners of these platforms."

Gathering signatures "remotely," as suggested by the state of California, would require each signer to be contacted by a stranger over the phone or internet, that a document be mailed or printed at home, that a mobile notary be hired, and that the document be mailed to the campaigner for submission to the state. In San Francisco, mobile notary fees range from $55 to $115 per signature. At a hypothetical average rate of $100 per notarized signature, the cost of notarizing nearly 200,000 signatures would be on the order of $20 million, not including postage to and from the person signing the petition.

Judge Gee had also accused the SEP candidates of unexplained delays in bringing the lawsuit. The candidates established that they had prosecuted the lawsuit with all possible diligence and speed, and if they had brought it any earlier, they would have confronted arguments that the state would soon re-open and plenty of time remained in the signature-gathering period.

Responding to the states arguments that adding socialist candidates will lead to voter confusion, the candidates appeal brief explained: Placing these socialist candidates with their distinct program on the ballot will inform rather than confuse voters as to important issues, including those who otherwise might not vote. The fact that sample ballots are mailed to voters prior to election day further diminishes any concern about voter confusion, since voters will have an opportunity to research the candidates and their platforms in advance. There is no realistic threat that these avowedly socialist candidates will be confused with the other party candidates.

The SEP candidates argued that by excluding them from the ballot, especially at a time when, according to a recent Gallup poll, over 49 percent of young voters have a positive view of socialism, the state is effectively placing burdens on two different, although overlapping, kinds of rightsthe right of individuals to associate for the advancement of political beliefs and the right of qualified voters, regardless of their political persuasion, to cast their votes effectively.

In their emergency motion for reconsideration, the SEP candidates responded to the Ninth Circuit judges' accusation that the appeal was filed on a "late date," pointing to the fact that the appeal was filed only one day after the decision by Judge Gee. The period within which to file an appeal is 30 days.

Also regarding the supposed "late date" of the appeal, the SEP pointed to a case in 2016, during the last presidential election cycle, where the Ninth Circuit had expedited an appeal in a voting rights case that was filed in mid-October. In contrast, the SEP's appeal was made in July.

According to the records of that case, the notice of appeal was filed on October 15, 2016, an emergency motion was filed on October 18, 2016 to expedite the appeal, and on October 19, 2016, the motion was granted. "The parties were directed to file simultaneous merits briefs by October 24, 2016, and the appeal was argued orally on October 26, 2016."

On this basis, the SEP candidates explained that "that there remains sufficient time to decide the relatively straightforward legal issue involved in this appeal no later than August 28, 2020."

"Expediting appeals in ballot access and voting rights cases is necessary to secure the fundamental democratic and constitutional rights involved, since the elections timetable will early always be faster than the ordinary speed with which appeals are resolved," the candidates stated.

"If this case is decided after ballots are printed on August 28, 2020," then the SEP candidates "will be left without a remedy for violations of those rights."

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Ninth Circuit Court of Appeals refuses to hear Socialist Equality Party candidates' appeal in California voting rights case until after ballots are...

The pandemic has changed how criminals hide their cashand AI tools are trying to sniff it out – MIT Technology Review

The pandemic has forced criminal gangs to come up with new ways to move money around. In turn, this has upped the stakes for anti-money laundering (AML) teams tasked with detecting suspicious financial transactions and following them back to their source.

Key to their strategies are new AI tools. While some larger, older financial institutions have been slower to adapt their rule-based legacy systems, smaller, newer firms are using machine learning to look out for anomalous activity, whatever it might be.

It is hard to assess the exact scale of the problem. But according to the United Nations Office on Drugs and Crime, between 2% and 5% of global GDPbetween $800 billion and $2 trillion at current figuresis laundered every year. Most goes undetected. Estimates suggest that only around 1% of profits earned by criminals is seized.

And that was before covid-19 hit. Fraud is up, with fears around covid-19 creating a lucrative market for counterfeit protective gear or medication. More people spending time online also creates a bigger pool for phishing attacks and other scams. And, of course, drugs are still being bought and sold.

Lockdown made it harder to hide the proceedsat least to begin with. The problem for criminals is that many of the best businesses for laundering money were also those hit hardest by the pandemic. Small shops, restaurants, bars, and clubs are favored because they are cash-heavy, which makes it easier to mix up ill-gotten gains with legal income.

With bank branches closed, it has been harder to make large cash deposits. Wire transfer services like Western Unionwhich usually allow anyone to walk in off the street and send money overseasshut their premises, too.

But criminals are nothing if not opportunistic. As the normal channels for money laundering closed, new ones opened up. Vast sums of money have started flowing into small businesses again thanks to government bailouts. This creates a flurry of financial activity that provides cover for money laundering.

The upshot is that there are more demands being placed on AML tech. Older systems rely on hand-crafted rules, such as that transactions over a certain amount should raise an alert. But these rules lead to many false flags and real criminal transactions get lost in the noise. More recently, machine-learning based approaches try to identify patterns of normal activity and raise flags only when outliers are detected. These are then assessed by humans, who reject or approve the alert.

This feedback can be used to tweak the AI model so that it adjusts itself over time. Some firms, including Featurespace, a firm based in the US and UK that uses machine learning to detect suspicious financial activity, and Napier, another firm that builds machine learning tools for AML, are developing hybrid approaches in which correct alerts generated by an AI can be turned into new rules that shape the overall model.

The rapid shifts in behavior in recent months have made the advantages of more adaptable systems clear. Financial regulators around the world have released new guidance on what sort of activity AML teams should look out for but for many it was too late, says Araliya Samm, head of financial crime at Featurespace. When something like covid happens, where everybody's payment patterns change suddenly, you dont have time to put new rules in place.

You need tech that can catch it as it is happening, she says: Otherwise by the time youve detected something and alerted the people who need to know, the money is gone.

For Dave Burns, chief revenue officer for Napier, covid-19 caused long-simmering problems to boil over. This pandemic was the tipping point in many ways, he says. It's a bit of a wake-up call that we really need to think differently. And, he adds, some of the larger players in the industry have been caught flat-footed.

But that doesnt simply mean adopting the latest tech. You cant just do AI for AIs sake because that will spew out garbage, says Burns. Whats needed, he says, is a bespoke approach for each bank or payment provider.

AML technology still has a long way to go. The pandemic has revealed cracks in existing systems that have people worried, says Burns. And that means that things could change faster than they were going to. Were seeing a greater degree of urgency, he says. What is traditionally very long, bureaucratic decision-making is being accelerated dramatically.

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The pandemic has changed how criminals hide their cashand AI tools are trying to sniff it out - MIT Technology Review

Are precious metals and cryptocurrency transforming IRAs? – FXStreet

Ask somebody British or Irish about what IRA means and you may come away feeling a little bruised. Depending on their point of view, your British or Irish friend will describe it as either a terrorist organization or a band of freedom fighters. The Irish Republican Army, to put it mildly, unnerved Britain during the 1970s and 1980s. To this day, it casts a giant shadow over politics in both countries.

As cultural differences often go, mentioning IRA to an American will return a completely different reaction.

Like its terrorist or freedom fighting namesake, the American IRA, or Individual Retirement Plan, came to prominence in the 1970s. Introducedin theEmployee Retirement Income Security Actof 1974 (better known as ERISA), it allowed contributions from workers outside of their employment. The IRA became a portable retirement account, in which employees can accumulate savings from each job they work over the span of their career.

The basic idea was to shelter a certain amount of investment into a specified savings vehicle and give tax advantages and protection to these funds until retirement.

As usually happens with any government-funded plan, this one became entangled in bureaucracy. However, the IRA remains a uniquely American solution to foster self-sufficiency.

Even back in the 1970s, the government recognized that unfunded liabilities would be impossible to meet for the whole working population. There was a glaring need to actively encourage people to make provision for themselves.

Each year, the IRS sets a maximum IRA contribution limit based on inflation. These limits are for individual contributions and there is also an age 50+ catch-up contribution. Since 1998, spouses who are not working can also make contributions up to the level of the main contributor.

What is unique about the IRA for U.S. workers is the ability to put different asset classes into a self-directed IRA.

These can range from real estate properties and art to precious metals and classic cars the only criteria being that the IRS classifies and recognizes the asset.

The exact criteria to determine whether an IRA is deductible or not can be found on theIRS website.

Adding to this complexity even if you are above the IRS limits is that you can still make contributions to a non-deductible IRA.

One of the major assets historically used for self-directed IRAs are precious metals.

Gold, silver, platinum and palladium are all eligible for inclusion as long as they are of an approved purity and kept in storage until retirement.

A more recent addition to the approved assets are cryptocurrencies. Bitcoin, Ethereum, Ripple and Litecoin are among the most popular digital currencies. The IRS approved these as an alternative investment back in 2014.

Although initially perceived to be far more risky than precious metals, using cryptos as a tax-deferred investment entity within an IRA has gained popularity in the last couple of years. This is especially true with younger investors, who can ride the volatility out.

There are two main differences between precious metals and crypto:risk and time.

Gold, particularly, is seen as a safe-haven investment in the times we are experiencing. Its enticing because of its stable track record and more than 5,000 years of history as a valuable entity.

Because of this, it is viewed as a more suitable tool to preserve the value of wealth, preferred over a speculative, high-return investment.

Silver, platinum and palladium also fit into this narrative although their returns are less predictable than gold, as all three are seen more as industrial metals than they are investment vehicles.

Of the three, silver is more popular because it is cheaper to invest in than gold and is currently enjoying a resurgence of interest and of results.

Cryptos, by contrast, are a recent addition to the asset arsenal. Relatively untried, especially in the current crisis, cryptos are still trying to find their way in the world of assets.

Crypto is steadily becoming accepted on the world stage, with banks, government and financial institutions recognizing their value and potential. More and more interest is increasing not just in the exchange of goods and services, but as an alternate currency, like Bitcoin. Cryptos known as altcoins, which use blockchain technology and encryption to facilitate the secure transfer of information and smart contracts, are becoming mainstream.

This makes them valuable for different reasons. While Bitcoins price and value are tied to its ultimate scarcity, Ethereum is promising because of its ultimate utility.

IRAs are driving an increasing amount of investment in cryptos with corporations, smaller companies and their employees becoming aware of the tax advantages behind an investment that has the potential increase by thousands of percent into the future.

The IRA has come a long way since 1974 and has enabled millions of Americans to enjoy happy and comfortable retirements. It is not often that a government initiative has proved both long-lasting and popular, but the IRA is a bright and shining example.

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Are precious metals and cryptocurrency transforming IRAs? - FXStreet

Daily Crunch: Twitter and Facebook take action against Trump – TechCrunch

Facebook and Twitter are taking a stronger stand against pandemic misinformation, we preview the latest version of macOS and a mental health startup raises $50 million. Heres your Daily Crunch for August 6, 2020.

The big story: Twitter, Facebook take action against Trump misinformation

Facebook and Twitter both took action against a post from President Donald Trump and his campaign featuring a clip from a Fox News interview in which he misleadingly described children as almost immune to COVID-19. Facebook took down the offending post, while Twitter went further and locked the Trump campaign out of its account (separate from Trumps personal account).

The @TeamTrump Tweet you referenced is in violation of the Twitter Rules on COVID-19 misinformation, Twitters Aly Pavela said in a statement. The account owner will be required to remove the Tweet before they can Tweet again.

Meanwhile, Twitter also announced today that it will be labeling accounts tied tostate-controlled media organizations and government officials (but not heads of state).

The tech giants

macOS 11.0 Big Sur preview Big Sur is the operating systems first primary number upgrade in 20 years, and Brian Heater says it represents a big step forward in macOS evolution.

Apple 27-inch iMac review This will be one of the last Macs to include Intel silicon.

Uber picks up Autocab to push into places its own app doesnt go Uber plans to use Autocabs technology to link users with local providers when they open the app in locations where Uber doesnt offer rides.

Startups, funding and venture capital

On-demand mental health service provider Ginger raises $50 million Through Gingers services, patients have access to a care coordinator who serves as the first point of entry into a companys mental health plans.

Mode raises $33 million to supercharge its analytics platform for data scientists Mode has also been introducing tools for less technical users to structure queries that data scientists can subsequently execute more quickly and with more complete responses.

Crossbeam announces $25 million Series B to keep growing partnerships platform Crossbeam is a Philadelphia startup that automates partnership data integration.

Advice and analysis from Extra Crunch

Can learning pods scale, or are they widening edtechs digital divide? In recent weeks, the concept has taken off all across the country.

Eight trends accelerating the age of commercial-ready quantum computing Venrocks Ethan Batraski writes that in the last 12 months, there have been meaningful breakthroughs in quantum computing from academia, venture-backed companies and industry.

5 VCs on the future of Michigans startup ecosystem According to the Michigan Venture Capital Association (MVCA), there are 144 venture-backed startup companies in Michigan, up 12% over the last five years.

(Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

More Chinese phone makers could lose US apps under Trumps Clean Network The Trump administrations five-pronged Clean Network initiative aims to strip away Chinese phone makers ability to pre-install and download U.S. apps.

UK reported to be ditching coronavirus contact tracing in favor of risk rating app Reports suggest a launch of the much-delayed software will happen this month, but also that the app will no longer be able to automatically carry out contact tracing.

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