The deal to take control of TikTok's U.S. business came with an unusual condition, according to people familiar with the matter. The investors — which include Oracle, Abu Dhabi investor MGX, and private-equity firm Silver Lake — "paid the Treasury Department about $2.5 billion when the deal closed in January," reports the Wall Street Journal, "and are set to make several additional payments until hitting the $10 billion total." The $10 billion payment would be nearly unprecedented for a government helping arrange a transaction, historians have said... Investment bankers advising on a typical deal receive fees of less than 1% of the transaction value, and the percentage generally gets smaller as the deal size increases. Bank of America is in line to make some $130 million for advising railroad operator Norfolk Southern on its $71.5 billion sale to Union Pacific, one of the largest fees on record for a single bank on a deal. Administration officials have said the fee is justified given Trump's role in saving TikTok in the U.S. and navigating negotiations with China to get the deal done while addressing the security concerns of lawmakers...

The TikTok fee extracted from private-sector investors is the administration's latest transaction involving the nation's largest businesses. Trump took a nearly 10% stake in semiconductor company Intel and has agreed to take a chunk of chip sales to China from Nvidia in exchange for granting export licenses. The administration has also taken equity stakes in other companies and has a say in the operations of U.S. Steel following a "golden share" agreement with Japan's Nippon Steel in its takeover.
Reuters notes earlier this month, a lawsuit was filed by investors in two of TikTok's social media rivals, seeking to reverse the approval of the deal.

Thanks to long-time Slashdot reader schwit1 for sharing the news.

"First the penny. Next, paper checks?" asks CNN: When the U.S. Mint stopped making pennies last month for the first time in 238 years, it drew a lot of attention. But there have been quiet moves to stop using paper checks as well. The government stopped sending out most paper checks to recipients as of the end of September, part of an effort to fully modernize federal benefits payments. And on Thursday the Federal Reserve put out a notice that suggested it is considering — but only considering — the "winding down" of checking services it now provides for banks.

The central bank's statement said that as an alternative to winding down those services, it is mulling more investment in its check processing services, but noted that would come at a higher cost. But it is also considering not making any such investments, in order to keep costs roughly unchanged. That would lead to reduced reliability of those services going forward. "Over time, check use has steadily declined, digital payment methods have grown in availability and use, and check fraud has risen," said the notice from the Fed. "Also, the Reserve Banks will need to make substantial investments in their check infrastructure to continue providing the same level of check services going forward."

A report from the Federal Reserve Bank of Atlanta in June found that as of last year, more than 90% of surveyed consumers said they prefer to use something other than a check for paying bills, and just 6% paid by check. That's a sharp drop from the 18% of bills paid by checks as recently as 2017. Consumers also reported they view checks as second-worst for convenience and speed of payment, ahead of only money orders. And they're ranked as the least secure form of any payment other than cash.

But even if it's true that options such as direct deposit, automatic bill paying and electronic payment systems such as Venmo, PayPal and Zelle have all reduced the need for traditional checks, paper checks are still an important part of the payment system. They make up about 5% of transactions and represent 21% of the value of all those payments, according to a statement from Michelle Bowman, the Fed's vice chair for supervision, who dissented from the Fed's Thursday statement.

According to CNBC, JPMorgan Chase has secured deals ensuring it will get paid by the fintech firms responsible for nearly all the data requests made by third-party apps connected to customer bank accounts. From the report: The bank has signed updated contracts with the fintech middlemen that make up more than 95% of the data pulls on its systems, including Plaid, Yodlee, Morningstar and Akoya, according to JPMorgan spokesman Drew Pusateri. "We've come to agreements that will make the open banking ecosystem safer and more sustainable and allow customers to continue reliably and securely accessing their favorite financial products," Pusateri said in a statement. "The free market worked."

The milestone is the latest twist in a long-running dispute between traditional banks and the fintech industry over access to customer accounts. For years, middlemen like Plaid paid nothing to tap bank systems when a customer wanted to use a fintech app like Robinhood to draw funds or check balances. [...] After weeks of negotiations between JPMorgan and the middlemen, the bank agreed to lower pricing than it originally proposed, and the fintech middlemen won concessions regarding the servicing of data requests, according to people with knowledge of the talks.

Fintech firms preferred the certainty of locking in data-sharing rates because it is unclear whether the current CFPB, which is in the process of revising the open-banking rule, will favor banks or fintech companies, according to a venture capital investor who asked for anonymity to discuss his portfolio companies. The bank and the fintech firms declined to disclose details about their contracts, including how much the middlemen agreed to pay and how long the deals are in force.

A former Business Analyst reportedly filed a class action lawsuit claiming that for years, hundreds of remote employees at Bank of America first had to boot up complex computer systems before their paid work began, reports Human Resources Director magazine: Tava Martin, who worked both remotely and at the company's Jacksonville facility, says the financial institution required her and fellow hourly workers to log into multiple security systems, download spreadsheets, and connect to virtual private networks — all before the clock started ticking on their workday. The process wasn't quick. According to the filing in the United States District Court for the Western District of North Carolina, employees needed 15 to 30 minutes each morning just to get their systems running. When technical problems occurred, it took even longer...

Workers turned on their computers, waited for Windows to load, grabbed their cell phones to request a security token for the company's VPN, waited for that token to arrive, logged into the network, opened required web applications with separate passwords, and downloaded the Excel files they needed for the day. Only then could they start taking calls from business customers about regulatory reporting requirements...

The unpaid work didn't stop at startup. During unpaid lunch breaks, many systems would automatically disconnect or otherwise lose connection, forcing employees to repeat portions of the login process — approximately three to five minutes of uncompensated time on most days, sometimes longer when a complete reboot was required. After shifts ended, workers had to log out of all programs and shut down their computers securely, adding another two to three minutes.
Thanks to Slashdot reader Joe_Dragon for sharing the article.

"It's been hard for me to understand why Atlas exists," writes MIT Technology Review. " Who is this browser for, exactly? Who is its customer? And the answer I have come to there is that Atlas is for OpenAI. The real customer, the true end user of Atlas, is not the person browsing websites, it is the company collecting data about what and how that person is browsing."

New York Magazine's "Intelligencer" column argues OpenAI wants ChatGPT in your browser because "That's where people who use computers, particularly for work, spend all their time, and through which vast quantities of valuable information flow in and out. Also, if you're a company hoping to train your models to replicate a bunch of white-collar work, millions of browser sessions would be a pretty valuable source of data."

Unfortunately, warns Fast Company, ChatGPT Atlas, Perplexity Comet, and other AI browses "include some major security, privacy, and usability trade-offs... Most of the time, I don't want to use them and am wary of doing so..." Worst of all, these browsers are security minefields. A web page that looks benign to humans can includehidden instructions for AI agents, tricking them into stealing info from other sites... "If you're signed into sensitive accounts like your bank or your email provider in your browser, simply summarizing a Reddit postcould result in an attacker being able to steal money or your private data,"Brave's security researchers wrotelast week.No one has figured out how to solve this problem.

If you can look past the security nightmares, the actual browsing features are substandard. Neither ChatGPT Atlas nor Perplexity Comet support vertical tabs — a must-have feature for me — and they have no tab search tool or way to look up recently-closed pages. Atlas also doesn't support saving sites as web apps, selecting multiple tabs (for instance, to close all at once with Cmd+W), or customizing the appearance. Compared to all the fancy new AI features, the web browsing part can feel like an afterthought. Regular web search can also be a hassle, even though you'll probably need it sometimes. When I typed "Sichuan Chili" into ChatGPT Atlas, it produced a lengthy description of the Chinese peppers, not the nearby restaurant whose website and number I was looking for.... Meanwhile, the standard AI annoyances still apply in the browser. Getting Perplexity to fill my grocery cart felt like a triumph, but on other occasions the AI has run into inexplicable walls and only ended up wasting more time.

There may be other costs to using these browsers as well. AI still has usage limits, and so all this eventually becomes a ploy to bump more people into paid tiers. Beyond that,Atlas is constantly analyzing the pages you visit to build a "memory" of who you are and what you're into. Do not be surprised if this translates to deeply targeted ads as OpenAI startslooking at ways to monetize free users. For now, I'm only using AI browsers in small doses when I think they can solve a specific problem.

Even then, I'm not going sign them into my email, bank accounts, or any other accounts for which a security breach would be catastrophic. It's too bad, because email and calendars are areas where AI agents could be truly useful, but the security risks are too great (andwell-documented).
The article notes that in August Vivaldi announced that "We're taking a stand, choosing humans over hype" with their browser: We will not use an LLM to add a chatbot, a summarization solution or a suggestion engine to fill up forms for you, until more rigorous ways to do those things are available. Vivaldi is the haven for people who still want to explore. We will continue building a browser for curious minds, power users, researchers, and anyone who values autonomy. If AI contributes to that goal without stealing intellectual property, compromising privacy or the open web, we will use it. If it turns people into passive consumers, we will not...

We're fighting for a better web.

An anonymous reader shares a report: Pay-advance apps are marketed as a way to help workers living paycheck to paycheck pay for unexpected expenses, but workers are often using the apps to manage basic expenses like groceries, rent and other needs, a new report found. The tools, consumer advocates say, can carry costs akin to those of traditional payday loans.

An analysis of anonymous data found worrisome behavior among users of the apps, including quick increases in the number of advances, advances from multiple apps at the same time and more frequent bank overdraft fees. "These findings reveal persistent patterns of financial strain that raise serious concerns about the long-term effects of these loans," said the report from the Center for Responsible Lending, a nonprofit consumer advocacy group. The group analyzed data from SaverLife, a nonprofit that promotes saving and sound financial practices among people with low or moderate incomes. The analysis found that heavy users of the apps paid $421, on average, in total loan and overdraft fees over a year, or almost triple the average paid by moderate users.

Rising adoption of AI technology by firms in the Federal Reserve's New York district has not been much of a job-killer so far, the regional Fed bank said in a blog on Thursday. Reuters: "Businesses reported a notable increase in AI use over the past year, yet very few firms reported AI-induced layoffs," New York Fed economists wrote in the blog. "Indeed, for those already employed, our results indicate AI is more likely to result in retraining than job loss, similar to our findings from last year," and so far the technology does not point to "significant reductions in employment."

There has been broad concern that AI could create major headwinds for hiring in the coming years, with the technology hitting highly-paid professional and managerial jobs the hardest. Investors are plowing cash into AI investments at a time when employment has already begun to show some softness, although job market changes related to AI will almost certainly play out over a long time horizon. The New York Fed blog noted that the modest impact on jobs so far may not hold in the future. "Looking ahead, firms anticipate more significant layoffs and scaled-back hiring as they continue to integrate AI into their operations," New York Fed researchers wrote.

Hackers have stolen hundreds of millions of dollars from cryptocurrency holders and disrupted major retailers by targeting outsourced call centers used by American corporations to reduce costs, WSJ reported Thursday. The attackers exploit low-paid call center workers through bribes and social engineering to bypass two-factor authentication systems protecting bank accounts and online portals.

Coinbase faces potential losses of $400 million after hackers compromised data belonging to 97,000 customers by bribing call center workers in India with payments of $2,500. The criminals also used malicious tools that exploited vulnerabilities in Chrome browser extensions to collect customer data in bulk.

TaskUs, which handled Coinbase support calls, shut down operations at its Indore, India facility and laid off 226 workers. Retail attacks targeted Marks & Spencer and Harrods with hackers impersonating corporate executives to pressure tech support workers into providing network access. The same technique compromised MGM Resorts systems in 2023. Call center employees typically possess sensitive customer information including account balances and recent transactions that criminals use to masquerade as legitimate company representatives.

A chain of stores called Home Bargains installed facial recognition software to spot returning shoplifters. Unfortunately, "Facewatch" made a mistake.

"We acknowledge and understand how distressing this experience must have been," an anonymous Facewatch spokesperson tells the BBC, adding that the store using their technology "has since undertaken additional staff training."

A woman was accused by a store manager of stealing about £10 (about $13) worth of items ("Everyone was looking at me"). And then it happened again at another store when she was shopping with her 81-year-old mother on June 4th: "As soon as I stepped my foot over the threshold of the door, they were radioing each other and they all surrounded me and were like 'you need to leave the store'," she said. "My heart sunk and I was anxious and bothered for my mum as well because she was stressed...."

It was only after repeated emails to both Facewatch and Home Bargains that she eventually found there had been an allegation of theft of about £10 worth of toilet rolls on 8 May. Her picture had somehow been circulated to local stores alerting them that they should not allow her entry. Ms. Horan said she checked her bank account to confirm she had indeed paid for the items before Facewatch eventually responded to say a review of the incident showed she had not stolen anything. "Because I was persistent I finally got somewhere but it wasn't easy, it was really stressful," she said. "My anxiety was really bad — it really played with my mind, questioning what I've done for days. I felt anxious and sick. My stomach was turning for a week."

In one email from Facewatch seen by the BBC, the firm told Ms Horan it "relies on information submitted by stores" and the Home Bargains branches involved had since been "suspended from using the Facewatch system". Madeleine Stone, senior advocacy officer at the civil liberties campaign group Big Brother Watch, said they had been contacted by more than 35 people who have complained of being wrongly placed on facial recognition watchlists.

"They're being wrongly flagged as criminals," Ms Stone said.
"They've given no due process, kicked out of stores," adds the senior advocacy officer. "This is having a really serious impact." The group is now calling for the technology to be banned. "Historically in Britain, we have a history that you are innocent until proven guilty but when an algorithm, a camera and a facial recognition system gets involved, you are guilty. The Department for Science, Innovation and Technology said: "While commercial facial recognition technology is legal in the UK, its use must comply with strict data protection laws. Organisations must process biometric data fairly, lawfully and transparently, ensuring usage is necessary and proportionate.

"No one should find themselves in this situation."
Thanks to alanw (Slashdot reader #1,822) for sharing the article.

Cryptocurrency exchange Coinbase said Thursday it is offering a $20 million reward for information leading to the arrest and conviction of criminals who attempted to extort the company for the same amount after stealing customer data.

The criminals bribed customer support agents in overseas markets to access records containing addresses, phone numbers, government IDs, and partial bank and Social Security details of more than 80,000 customers. "It sucks but when we see a problem like this we want to own it and make it right," Coinbase Chief Security Officer Philip Martin told Fortune.

The company will reimburse customers who fell victim to subsequent social engineering scams. No login credentials or wallet access were compromised in the breach. The extortionists had threatened to publish the stolen information unless paid $20 million in Bitcoin.

Here's one more reason to cling to a steady job: It doesn't pay to quit. From a report: Typically workers who snag a new position see higher pay bumps than those holding down the same job. But in February, median wage growth of 4.4% for job stayers surpassed a 4.2% gain for job switchers, according to data from the Federal Reserve Bank of Atlanta. The change, as measured by a three-month moving average, is yet another sign of a softening labor market. White collar workers have been clinging to their jobs in the face of widespread layoffs and workplace reductions. Last month, employers announced the fastest pace of job cuts since 2020, when factoring in government job losses. And now an oversupply of job seekers means workers are having to settle for smaller pay bumps, said Peter Cappelli, a professor of management at The Wharton School of the University of Pennsylvania.

"That certainly sounds like a big slackening of the job market," Cappelli said. It's a major reversal from the "Great Resignation" a few years ago, when workers left their jobs at unprecedented rates, demanding more benefits and higher pay from employers. At a peak in July 2022, workers who got new jobs saw their wages grow by a whopping 8.5% compared to 5.9% for those who stayed loyal to their company, Atlanta Fed data show.

NPR remembers when the world "prepared for the impending global meltdown" that might've been, on December 31, 1999 — and the possible bug known as Y2K: The Clinton administration said that preparing the U.S. for Y2K was probably "the single largest technology management challenge in history." The bug threatened a cascade of potential disruptions — blackouts, medical equipment failures, banks shutting down, travel screeching to a halt — if the systems and software that helped keep society functioning no longer knew what year it was... Computer specialist and grassroots organizer Paloma O'Riley compared the scale and urgency of Y2K prep to telling somebody to change out a rivet on the Golden Gate Bridge. Changing out just one rivet is simple, but "if you suddenly tell this person he now has to change out all the rivets on the bridge and he has only 24 hours to do it in — that's a problem," O'Riley told reporter Jason Beaubien in 1998....

The date switchover rattled a swath of vital tech, including Wall Street trading systems, power plants and tools used in air traffic control. The Federal Aviation Administration put its systems through stress tests and mock scenarios as 2000 drew closer. "Twenty-three million lines of code in the air traffic control system did seem a little more daunting, I will say, than I had probably anticipated," FAA Administrator Jane Garvey told NPR in 1998. Ultimately there were no systemwide aviation breakdowns, but airlines were put on a Y2K alert....

Some financial analysts remained skeptical Y2K would come and go with minimal disruption. But by November 1999 the Federal Reserve said it was confident the U.S. economy would weather the big switch. "Federal banking agencies have been visited and inspected. Every bank in the United States, which includes probably 9,000 to 10,000 institutions, over 99% received a satisfactory rating," Fed Board Governor Edward Kelley said at the time.
The article also remembers a California programmer who bought a mobile home, a propane generator, and a year's supply of dehydrated food. (They were also considering buying a handgun — and converting his bank savings into gold, silver, and cash.) And "Dozens of communities across the U.S. formed Y2K preparedness groups to stave off unnecessary panic..."

But the article concludes that "the aggressive planning and recalibration paid off. Humanity passed into the year 2000 without pandemonium..."

And "People like Jack Pentes of Charlotte, N.C., were left to figure out what to do with their emergency stockpiles."

The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own. From a report: According to the suit, which also targets Early Warning Services LLC, Zelle's official operator, Zelle users have lost more than $870 million over the network's seven-year existence due to these alleged failures. "The nation's largest banks felt threatened by competing payment apps, so they rushed to put out Zelle," said CFPB Director Rohit Chopra in a statement. "By their failing to put in place proper safeguards, Zelle became a gold mine for fraudsters, while often leaving victims to fend for themselves."

Among the charges:
1. Poor identity verification methods, which have allowed bad actors to quickly create accounts and target Zelle users.
2. Allowing repeat offenders to continue to gain access to the platform
3. Ignoring and failing to report instances of fraud
4. Failing to properly investigate consumer complaints

The CFPB's suit seeks to change the platform's operations, as well as obtain a civil money penalty, that would be paid into the CFPB's victims relief fund.

Some days more than half of California's available solar power goes to waste, according to research from the California Institute for Energy and Environment. "In the last 12 months, California's solar farms have curtailed production of more than 3 million megawatt hours of solar energy," according to a data analysis by the Los Angeles Times — enough to power 518,000 California homes for a year.

And it was curtailed "either on the orders of the state's grid operator or because prices had plummeted because of the glut. The waste would have been even larger if California had not paid utilities in other states to take the excess solar energy, documents from the state's grid operator show." That means green energy paid for by California electricity customers is sent away, lowering bills for residents of other states. Arizona's largest public utility reaped $69 million in savings last year by buying from the market California created to get rid of its excess solar power. The utility returned that money to its customers as a credit on their bills. Also reaping profits are electricity traders, including banks and hedge funds. The increasing oversupply of solar power has created a situation where energy traders can buy the excess at prices so low they become negative, said energy consultant Gary Ackerman, the former executive director of the Western Power Trading Forum. That means the solar plant is paying the traders to take it. "This is all being underwritten by California ratepayers," Ackerman said...

The solar glut also means higher electricity bills for Californians, since they are effectively paying to generate the power but not using it. California's electric rates are roughly twice the nation's average, with only Hawaii having higher rates. Rates at Southern California Edison and Pacific Gas & Electric increased by 51% over the last three years. "Ratepayers aren't getting the energy they've paid for," said Ron Miller, an energy industry consultant in Denver. He calculates that the retail value of the solar energy thrown away in a year would be more than $1 billion.

Gov. Gavin Newsom's advisors and those who manage the state's electric grid say they are working to reduce the curtailments, including by building more industrial-scale battery storage facilities that soak up the excess solar power during the day and then release it at night. Officials in the governor's office declined to be interviewed, but issued a statement saying the curtailments are often because of congestion on transmission lines, rather than a statewide oversupply of power. The state has been spending heavily to upgrade transmission lines to ease the congestion. "It's also important to have extra energy resources available that can help the state during periods of extreme weather and historic heatwaves when demand is particularly high, which have happened the past few years," the statement said...

The commercial solar industry contends that the expansion of storage capacity to bank solar power will eventually eliminate the glut.

An anonymous reader shared this report from Reuters: Brazil's Supreme Court said on Friday that lawyers representing social media platform X did not pay pending fines to the proper bank, postponing its decision on whether to allow the tech firm to resume services in Brazil.

The payment of the fines, which X lawyers argued that the company had paid correctly, is the only outstanding measure demanded by the court in order to authorize X to operate again in Brazil... Earlier on Friday, X, owned by billionaire Elon Musk, filed a fresh request to have its services restored in Brazil, saying it had paid all pending fines. In response to the request, Supreme Court Justice Alexandre de Moraes requested the payment to be transferred to the right bank. He also determined that once fines are sorted out, Brazil's prosecutor general will give his opinion on the recent requests made by X's legal team in Brazil, which has been seeking to have the platform restored in the country.

Following Moraes' decision on Friday, X lawyers again asked the court for authorization to resume operations in Brazil, denying that the company had paid the fines to the wrong account and saying they do not see the need for the prosecutor general to be consulted before the ban is lifted.

CSO Online reports that North Korea "is actively infiltrating Western companies using skilled IT workers who use fake identities to pose as remote workers with foreign companies, typically but not exclusively in the U.S."

Slashdot reader snydeq shares their report, which urges information security officers "to carry out tighter vetting of new hires to ward off potential 'moles' — who are increasingly finding their way onto company payrolls and into their IT systems." The schemes are part of illicit revenue generation efforts by the North Korean regime, which faces financial sanctions over its nuclear weapons program, as well as a component of the country's cyberespionage activities.

The U.S. Treasury department first warned about the tactic in 2022. Thosands of highly skilled IT workers are taking advantage of the demand for software developers to obtain freelance contracts from clients around the world, including in North America, Europe, and East Asia. "Although DPRK [North Korean] IT workers normally engage in IT work distinct from malicious cyber activity, they have used the privileged access gained as contractors to enable the DPRK's malicious cyber intrusions," the Treasury department warned... North Korean IT workers present themselves as South Korean, Chinese, Japanese, or Eastern European, and as U.S.-based teleworkers. In some cases, DPRK IT workers further obfuscate their identities by creating arrangements with third-party subcontractors.

Christina Chapman, a resident of Arizona, faces fraud charges over an elaborate scheme that allegedly allowed North Korean IT workers to pose as U.S. citizens and residents using stolen identities to obtain jobs at more than 300 U.S. companies. U.S. payment platforms and online job site accounts were abused to secure jobs at more than 300 companies, including a major TV network, a car manufacturer, a Silicon Valley technology firm, and an aerospace company... According to a U.S. Department of Justice indictment, unsealed in May 2024, Chapman ran a "laptop farm," hosting the overseas IT workers' computers inside her home so it appeared that the computers were located in the U.S. The 49-year-old received and forged payroll checks, and she laundered direct debit payments for salaries through bank accounts under her control. Many of the overseas workers in her cell were from North Korea, according to prosecutors. An estimated $6.8 million were paid for the work, much of which was falsely reported to tax authorities under the name of 60 real U.S. citizens whose identities were either stolen or borrowed...

Ukrainian national Oleksandr Didenko, 27, of Kyiv, was separately charged over a years-long scheme to create fake accounts at U.S. IT job search platforms and with U.S.-based money service transmitters. "Didenko sold the accounts to overseas IT workers, some of whom he believed were North Korean, and the overseas IT workers used the false identities to apply for jobs with unsuspecting companies," according to the U.S. Department of Justice. Didenko, who was arrested in Poland in May, faces U.S. extradition proceedings...

How this type of malfeasance plays out from the perspective of a targeted firm was revealed by security awareness vendor KnowBe4's candid admission in July that it unknowingly hired a North Korean IT spy... A growing and substantial body of evidence suggests KnowBe4 is but one of many organizations targeted by illicit North Korean IT workers. Last November security vendor Palo Alto reported that North Korean threat actors are actively seeking employment with organizations based in the U.S. and other parts of the world...

Mandiant, the Google-owned threat intel firm, reported last year that "thousands of highly skilled IT workers from North Korea" are hunting work. More recently, CrowdStrike reported that a North Korean group it dubbed "Famous Chollima" infiltrated more than 100 companies with imposter IT pros.
The article notes the infiltrators use chatbots to tailor the perfect resume "and further leverage AI-created deepfakes to pose as real people." And the article includes this quote from a former intelligence analyst for the U.S. Air Force turned cybersecurity strategist at Sysdig. "In some cases, they may try to get jobs at tech companies in order to steal their intellectual property before using it to create their own knock-off technologies."

The article closes with its suggested "countermeasures," including live video-chats with prospective remote-work applicants — and confirming an applicant's home address.

Ancient Slashdot reader Alain Williams writes: Palestinians living abroad have accused Microsoft of closing their email accounts without warning -- cutting them off from crucial online services. They say it has left them unable to access bank accounts and job offers -- and stopped them using Skype, which Microsoft owns, to contact relatives in war-torn Gaza. Microsoft says they violated its terms of service -- a claim they dispute. He also said being cut off from Skype was a huge blow for his family. The internet is frequently disrupted or switched off there because of the Israeli military campaign - and standard international calls are very expensive. [...] With a paid Skype subscription, it is possible to call mobiles in Gaza cheaply -- and while the internet is down -- so it has become a lifeline to many Palestinians.

Some of the people the BBC spoke to said they suspected they were wrongly thought to have ties to Hamas, which Israel is fighting, and is designated a terrorist organization by many countries. Microsoft did not respond directly when asked if suspected ties to Hamas were the reason for the accounts being shut. But a spokesperson said it did not block calls or ban users based on calling region or destination. "Blocking in Skype can occur in response to suspected fraudulent activity," they said, without elaborating.

An anonymous reader quotes a report from Ars Technica: A California-based credit union with over 450,000 members said it suffered a ransomware attack that is disrupting account services and could take weeks to recover from. "The next few days -- and coming weeks -- may present challenges for our members, as we continue to navigate around the limited functionality we are experiencing due to this incident," Patelco Credit Union CEO Erin Mendez told members in a July 1 message (PDF) that said the security problem was caused by a ransomware attack. Online banking and several other services are unavailable, while several other services and types of transactions have limited functionality.

Patelco Credit Union was hit by the attack on June 29 and has been posting updates on this page, which says the credit union "proactively shut down some of our day-to-day banking systems to contain and remediate the issue... As a result of our proactive measures, transactions, transfers, payments, and deposits are unavailable at this time. Debit and credit cards are working with limited functionality." Patelco Credit Union is a nonprofit cooperative in Northern California with $9 billion in assets and 37 local branches. "Our priority is the safe and secure restoration of our banking systems," a July 2 update said. "We continue to work alongside leading third-party cybersecurity experts in support of this effort. We have also been cooperating with regulators and law enforcement."

Patelco says that check and cash deposits should be working, but direct deposits have limited functionality. Security expert Ahmed Banafa "said Tuesday that it looks likely that hackers infiltrated the bank's internal databases via a phishing email and encrypted its contents, locking out the bank from its own systems," the Mercury News reported. Banafa was paraphrased as saying that it is "likely the hackers will demand an amount of money from the credit union to restore its systems back to normal, and will continue to hold the bank's accounts hostage until either the bank finds a way around the hack or until the hackers are paid." Patelco hasn't revealed details about how it will recover from the ransomware attack but acknowledged to customers that their personal information could be at risk. "The investigation into the nature and scope of the incident is ongoing," the credit union said. "If the investigation determines that individuals' information is involved as a result of this incident, we will of course notify those individuals and provide resources to help protect their information in accordance with applicable laws." While ATMs "remain available for cash withdrawals and deposits," Patelco said many of its other services remain unavailable, including online banking, the mobile app, outgoing wire transfers, monthly statements, Zelle, balance inquiries, and online bill payments. Services with "limited functionality" include company branches, call center services, live chats, debit and credit card transactions, and direct deposits.

An anonymous reader quotes a report from Markets Insider: Sunny days in Germany mean gray clouds for solar profitability as the nation's dive into renewables has left it with too much energy. According to a note from SEB Research, in the past 10 days, solar producers have had to take an 87% price cut during production hours. In fact, when production peaks, prices have slid well below zero. On average, the price received was 9.1 euros per megawatt-hour, significantly under the 70.6 euros paid during non-solar-power hours. "This is what happens to power prices when the volume of unregulated power becomes equally big or bigger than demand: Prices collapse when unregulated power produces the most," the Swedish bank wrote on Tuesday.

Last year's record wave of solar installations are what's driving Germany's price "destruction" as inventory outpaces consumption. While total solar capacity topped 81.7 gigawatts by 2023's end, demand load only reached 52.2 gigawatts, noted SEB chief commodities analyst Bjarne Schieldrop. The difference between the two actually widens even more in the summer, a season of peak production and lower demand. This also means that consumers are not necessarily benefiting from the low prices, as they typically consume more energy in non-solar hours. Unless new installations are spurred on by subsidies or power purchase agreements, oppressed profitability could eventually halt Germany's solar expansion, Schieldrop said.

Instead, focus is likely to move onto improvements that will make more use of the energy produced, such as investments in batteries and grid infrastructure. "This will over time exhaust the availability of 'free power' and drive solar-hour-power-prices back up," Schieldrop wrote. "This again will then eventually open for renewed growth in solar power capacity growth."

An anonymous reader quotes a report from Fortune: Zurich authorities have apologized to city employees after a technical glitch caused a double payment of monthly salaries that local officials are now trying to claw back. About 175 million francs ($200 million) was sent in error on Monday, which was the payday for February, according to a statement. Workers can't keep the money, and officials are trying to devise a streamlined process so that the 30,000 employees affected can easily return it.

A technical error at state-owned Zuercher Kantonalbank, which handles the city's salary transfers, is to blame. The bank itself said that faulty software from one of Swisscom AG's contractors caused the glitch. "Swisscom is aware of the seriousness of this incident and apologizes for the inconvenience caused," the telecommunications company said in a statement shared by the bank. The unexpected windfall prompted a flurry of employees calling up the city's offices to ask about the extra money, according to Swiss newspapers. Others mockingly described it as "inflation compensation" on the city's intranet, and demanded a repeat.