Latest news with #PSD
The Sun
6 days ago
- Automotive
- The Sun
3REN secures incentives from InvestPenang to boost IC capabilities
PETALING JAYA: 3REN Bhd, a provider of automation solutions and engineering services, announced that its wholly owned subsidiary, Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to accept an incentive package aimed at strengthening its integrated circuit (IC) design and development capabilities. This agreement solidifies the partnership between the parties, following the signing of a memorandum of understanding in December 2024 to collectively collaborate on the Penang Silicon Design @5km+ (PSD@5km+) initiative. The incentive package awarded to 3REN includes monetary subsidies, grants and payments for facilities and services provided by participating stakeholders, effective until May 2028. The group plans to strategically leverage these incentives to make meaningful contributions to the growth of Malaysia's semiconductor and IC design and development ecosystem, while driving further innovation in the sector. 3REN executive director and CEO Koh Dim Kuan said having worked alongside reputable counterparties and global players in the IC industry, the company is exceptionally proud to solidify its partnership with InvestPenang through PSD@5km+. 'This initiative provides us with valuable opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, and enhances our access to cutting-edge IC design and development technologies. 'It also connects us with like-minded, visionary organisations in a united effort to position Malaysia at the forefront of the global semiconductor landscape. 'This collaboration further reflects our strong commitment to nurturing future talent, as the Group strategically advances up the semiconductor value chain, building on its solid foundation in automation solutions and engineering services,' he said.
Business Wire
16-07-2025
- Business
- Business Wire
FICO European Fraud Map: UK Leads in 'Card Not Present' Fraud and Total Losses
LONDON--(BUSINESS WIRE)--The FICO European Fraud Map 2024 has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries. E-commerce fraud, e-wallet, social engineering and QR code fraud or 'quishing' are all rising as well. 'While card fraud loss figures are still lower than the 2015 peak of €1,642 million, the last few years show that fraud in Europe is steadily rising back up towards this figure.' - James Roche, FICO Share Highlights Card fraud losses across EMEA have increased from €1,493m in 2021 to €1,578m in 2024 UK card fraud increased by 4% to £572.6 million since 2023 CNP fraud accounts for around 70% of total card fraud losses in the UK – increasing by 11% year on year Hungary saw the greatest increase across Europe at 22% — card fraud losses also dramatically increased in Norway, Denmark and Hungary Portugal and the Netherlands are the only countries to see fraud levels fall 'While card fraud loss figures are still lower than the 2015 peak of €1,642 million, the last few years show that fraud in Europe is steadily rising back up towards this figure,' commented James Roche, principal fraud consultant for FICO in EMEA. 'The UK has followed a similar trajectory to the rest of Europe, aligning with what FICO has seen in terms of the dominant fraud MOs that plague both the UK and Europe, as well as the common approaches taken in the last decade via initiatives such as PSD and PSR.' Card Losses Grow in UK In 2024, UK Finance reported £572.6 million in total card fraud losses, a 3.9% increase from £551.3 million in 2023. This goes against the trend of the past few years of falling card losses and a broader trend of stabilisation in the UK payments landscape, which is a cause for concern. Card Not Present (CNP) fraud remained the leading fraud category, accounting for around 70% of total card fraud losses. This marks an increase of 11% from 2023 and puts the UK at the top of the league table for CNP fraud losses in Europe, underscoring the persistent risk associated with remote transactions. Conversely, identity (ID) fraud losses dropped significantly by 26% to £58.7M, pointing to a shift in criminal behaviour away from ID theft and towards social engineering, data compromises and scams. The growing use of fraud enhancements such as biometric and behavioural monitoring tools are also likely to have contributed to the decrease. Plus, continued investment by UK and EU financial services in full customer journey visibility and data sharing is enabling identity characteristics to be monitored from onboarding through early book and ongoing lifecycle stages of the customer journey. 'The UK has long been a leader in deploying innovative fraud technology, and clearly the challenges are still growing,' Roche said. 'With PSD3 regulations now taking effect across Europe, we see fraud prevention teams moving towards a unified approach to fraud risk assessment. Continued investment in preventative tools, such as Scam Signal, and intelligence-led fraud detection remain critical to protecting card portfolios from evolving threats.' The Picture across Europe Other highlights from the FICO European Fraud Map show the impact card fraud is having across the region: In Norway fraud losses have dramatically increased over the last few years from €14M in 2021 to €26.4M, rising 8% in 2024. Denmark demonstrated a more than twofold increase in fraud losses (€19.6M to €47.6M) since 2021, and a concerning 20% rise in 2024 alone. In Hungary, fraud losses jumped from €3.3M to €22.4M from 2021 to 2024, rising by 22% in 2024. Greece has also seen a significant increase, with a twofold increase from €13.4M to €28.4M since 2021 and 20% in 2024. Sweden's losses have risen significantly from €13.1M to €24.2M, an increase of around 85% in three years, and 19% during 2024. Despite the overall EMEA loss picture trending slowly upwards, a few countries are seeing a downward trend in their card fraud losses: France's losses are slowly but steadily decreasing and have done so consistently since their peak at €433.2M in 2018. They now sit at €409.2M, the second highest losses of the 18 countries studied but setting a good example for controlling their losses. Turkey showed significantly lower losses at €1.1M for 2024, but they too are reducing their fraud losses consistently and have done since their peak at €14M in 2010. However, 2024 saw fraud rise by 5% in Turkey. 'With PSD3 regulations due to take effect across Europe in the next couple of years, financial institutions must work harder than ever to fight new fraud patterns and improve customer service,' said Roche. 'We are seeing a number of emerging approaches that unify protection that is currently siloed, using 360-degree customer profiling to assess fraud and financial crime risk across all channels and products and throughout the entire lifecycle of the customer (onboarding through to offboarding). We at FICO believe this approach is absolutely critical, as criminals look for the weakest link in fraud defences.' FICO's fraud solutions portfolio includes the AI-powered FICO ® Falcon ® Fraud Manager, which protects more than 4 billion cards worldwide; FICO ® Omni-Channel Communications for Fraud, available on FICO® Platform; and award-winning models for scam detection, as well as the award-winning Scam Signal product developed with Jersey Telecom. About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at FICO and Falcon are registered trademarks of Fair Isaac Corporation in the United States and other countries.
BBC News
15-07-2025
- BBC News
Married firearms officer 'spent hours on duty at lover's home'
A married firearms officer spent nearly 65 hours with his girlfriend while both were on duty, a misconduct panel has been told. Sgt Steven Ainsworth told the hearing at Merseyside Police headquarters that he had formed an "instant connection" with a fellow officer after they met at a friend's birthday 39-year-old, who was married to a senior officer within the force's anti-corruption unit, admitted visiting the young constable's home on 15 separate shifts as the affair developed in late 2022 and early 2023. But he denied gross misconduct or that they had had sex during any of the visits, saying instead that he had simply needed to "talk" to her for his mental health. Sgt Ainsworth's girlfriend, granted anonymity by the misconduct panel and only referred to as Officer A, is also accused of gross misconduct, including by visiting his home on three are both accused of breaching professional standards around discreditable conduct, challenging improper conduct, duties and responsibilities and honesty and integrity between November 2022 and April 2023. Sgt Ainsworth is also accused of using force systems to access data on Officer A's location. While accepting he had done so, he denied it was a "serious matter" amounting to gross misconduct. The panel heard the force's Professional Standards Department (PSD) was tipped off about the relationship after Officer A's partner, also a serving officer, told Sgt Ainsworth's wife. Sgt Ainsworth, a 17-year veteran of the force, was arrested in October said that experience made his "world fall apart". Matthew Holdcroft, representing Merseyside Police, told the panel: "It's obvious they should not have been doing that, and it should be obvious to police officers, incumbent as it is upon them to reflect what the public expects of them."Any objective person looking at that would know that's not the right thing to do."The panel heard that part of Sgt Ainsworth's role was to be the designated Tactical Firearms Advisor to the Firearms Incident Commander (FIC) in the event of a firearms role entailed offering advice and support on how to respond. Supt Colin Rooney, head of the force's Matrix gun and gangs unit, and specialist firearms officer Ch Insp Chris McMullin appeared as witnesses and agreed the Tactical Firearms Advisor did not need to be in the same location as the Firearms Incident Commander. Under questioning from Luke Ponte, representing Sgt Ainsworth, Ch Insp McMullin agreed that prior to June 2023, there was a "stigma" attached to the firearms department. He said: "The macho side of things was definitely a historic reputation that came with the department. "There was certainly a fear to report any mental health issue or any issue of resilience for fear of the firearms ticket being removed from the officer." Mental health struggles The panel heard that sergeants in the firearms department would start their shifts in the force's Operational Command Centre in Speke with tasks including arming and deploying their officers and checking the force armoury. Sgt Ainsworth said Tactical Firearms Advisors were encouraged to not get "tied up" in other police matters such as patrols or stop-and-search so they were available in the event of a serious incident. He claimed the reality was that there were often hours with "nothing to do" during shifts once administrative and resourcing tasks were completed, particularly during night shifts. Sgt Ainsworth said that at the time he began an affair with Officer A he was struggling both in his marriage and with the impact of distressing high-profile incidents at work. He described himself as a "task orientated" person who found his "head spinning" when he was not busy, and he felt he could only "calm down" by talking to Officer A. However he said he "cared too much about his job and doing the right thing" to jeopardise it by having sex on duty. Mr Holdcroft accused Sgt Ainsworth of lying about what went on at Officer A's home, suggesting it was not credible that he did nothing more than "kiss her on the cheek". "Taking a step back and looking at it now, can you not see that spending hours at your girlfriend's house undermines public confidence in policing?" Mr Holdcroft Ainsworth replied: "Hindsight is a wonderful thing."The hearing continues. Listen to the best of BBC Radio Merseyside on BBC Sounds and follow BBC Merseyside on Facebook, X, and Instagram, and watch BBC North West Tonight on BBC iPlayer.
Euractiv
15-07-2025
- Business
- Euractiv
Romanian government survives no-confidence vote amid coalition austerity rift
Romanian government survives no-confidence vote amid coalition austerity rift BUCHAREST - Romania's government survived its first no-confidence motion on Monday after Parliament rejected a challenge from far-right parties, but the vote exposed growing tensions within the pro-EU ruling coalition. The failed motion was brought to Parliament by far-right parties AUR, POT, and SOS in response to growing public backlash over the government's fiscal consolidation measures unveiled last week. Among other things, the Romanian government plans to raise the standard VAT rate from 19% to 21%, and replace the reduced rates of 5% and 9% with a single rate of 11%, which will affect essential items such as food and medicine. Romania's ruling pro-EU coalition includes the centre-left PSD, centre-right PNL, reformist USR, and the Hungarian minority party UDMR, led by Prime Minister Ilie Bolojan. However, acting PSD leader Sorin Grindeanu sharply criticised the government's approach, warning it risked repeating the 2010–2011 austerity-driven collapse. 'We didn't sign up to turn a budget crisis into a deep economic crisis,' he said in a bid to distance his party from the austerity measures implemented by the government. Grindeanu accused the government of placing the burden on low-income citizens and reiterated the PSD's call for a progressive tax system as a fairer alternative to widespread tax hikes. He argued that a well-designed progressive model would have avoided the need to raise the VAT. Centrist president Nicușor Dan also took aim at the VAT hike, stressing in a press conference that he had promised to keep it at 19% during coalition negotiations. 'I still believe it was the right path,' he said, noting that other budgetary solutions had been available. Prime Minister Ilie Bolojan defended the government's fiscal stance, pointing to 'early positive signs' from international markets. He also announced a second package of expenditure cuts to be unveiled by the end of July. (cs)
The Star
13-07-2025
- Health
- The Star
Major win for healthcare workers
Keeping 42-hour work week first of many steps forward, says Dzulkefly KUALA LUMPUR: Describing it as a historic breakthrough, the Health Ministry welcomed the 42-hour work week for shift-based healthcare workers as a recognition of their dedication. Health Minister Datuk Seri Dr Dzulkefly Ahmad (pic) expressed the ministry's heartfelt gratitude to Prime Minister Datuk Seri Anwar Ibrahim for the move. He welcomed the decision to maintain the current 42-hour work week for five critical service schemes. 'This reflects recognition for the commitment and perseverance of healthcare personnel who care for patients fighting for their lives every day,' Dzulkefly said in a statement yesterday. The decision, announced by the Public Service Department (PSD), applies to 82,637 healthcare staff under the ministry, sparing them from the previously announced and controversial 45-hour work week proposal. According to PSD, the decision was made after taking into account the concerns raised by healthcare workers regarding the implementation under the Public Service Remuneration System (SSPA). From last year, The Star ran a series of articles highlighting the Malayan Nurses Union's concerns that the 45-hour work week would worsen fatigue, stress and work-life imbalance among nurses already stretched thin by manpower shortages. Dzulkefly said the move underscores the Madani government's commitment to address the physical, mental and emotional strain faced by healthcare workers. He added that the breakthrough was the result of coordinated efforts between PSD, unions, related associations, and the Health Ministry's Nursing and Human Resource Divisions. Looking ahead, he said the ministry remains focused on pursuing further reforms to strengthen the healthcare system. 'We hope this will be the first of many positive developments for our personnel. I urge all Malaysians to continue honouring the contributions of our healthcare heroes,' he said. The Malaysian Male Nurses Association (MMN) also welcomed the decision, calling it a significant victory for the wellbeing of frontline workers. In a statement, MMN expressed gratitude to the Prime Minister, Health Minister, PSD and the ministry's Human Resource division in preserving the current work hours. 'This reflects a strong commitment to the welfare of healthcare workers while ensuring continued quality care for patients. 'This decision proves that the voices of nurses and other healthcare workers are being heard,' the statement read. The association also said the move would allow nurses and other healthcare personnel to continue providing high-quality care in a more balanced and sustainable work environment. 'We hope the decision will enhance patient care, support better work-life balance for healthcare workers and strengthen collaboration to protect their rights and welfare for a more resilient healthcare system. 'MMN remains committed to working with all relevant parties to uphold the wellbeing of healthcare staff and enhance the quality of healthcare services in Malaysia,' it added. In a separate statement, Cuepacs president Datuk Dr Adnan Mat also thanked the government for the announcement, saying that the decision aligns with the Madani spirit, which emphasises the values of empathy, welfare and the wellbeing of both citizens and civil servants. 'Cuepacs believes that retaining the 42-hour work week will not only help safeguard the physical, mental and emotional health of healthcare personnel but will also ensure the quality of public healthcare services remains at its highest standard,' he said. Meanwhile, the guidelines to manage bullying at health facilities will be launched in conjunction with World Mental Health Day this October, added the Health Minister. Dzulkefly said the guidelines would then be distributed to all health facilities to strengthen existing support systems, including MyHelp KKM. 'This reflects the ministry's commitment towards the psychosocial welfare of its workforce,' he said in a statement. On Aug 29 last year, a specialist at Hospital Lahad Datu was found dead in her rented home in the wake of allegations of workplace bullying.
