united states – Ajedrez En Mexico http://ajedrezenmexico.org/ Sat, 12 Mar 2022 12:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ajedrezenmexico.org/wp-content/uploads/2021/12/icon-69.png united states – Ajedrez En Mexico http://ajedrezenmexico.org/ 32 32 Rapid City chess club will host two tournaments | Local https://ajedrezenmexico.org/rapid-city-chess-club-will-host-two-tournaments-local/ Sat, 12 Mar 2022 12:30:00 +0000 https://ajedrezenmexico.org/rapid-city-chess-club-will-host-two-tournaments-local/ For the first time, K-12 students and adults will participate in an open chess tournament through the Rapid City Scholastic Chess Club. The club will hold its first open tournament from 9 a.m. to 4 p.m. on Saturday, March 19 at Bible Fellowship Church. Nathan Walstrom, club president and student at South Dakota Mines, said […]]]>

For the first time, K-12 students and adults will participate in an open chess tournament through the Rapid City Scholastic Chess Club.

The club will hold its first open tournament from 9 a.m. to 4 p.m. on Saturday, March 19 at Bible Fellowship Church.

Nathan Walstrom, club president and student at South Dakota Mines, said the tournament would not be rated by the United States Chess Federation. The entry fee is $10 with a maximum of 36 participants.

“It’s just a good way to bring in some of the local residents who are adults who want to play chess and have easier access to a game,” Walstrom said. “It’s a bit different from the online games that many of us have become accustomed to over the past couple of years.”

Walstrom said the divisions will be split into K-6, K-12, and anyone outside of high school. K-12 would allow K-6 students to play with an older crowd, and each group could play with college-level or older students in the non-high school category.

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Walstrom said the club will also host the South Dakota School Championship for the first time in several years on April 9 at West Middle School.

He said the last time West River hosted the tournament, he was competing in school chess.

“It’s good that our club has caught the attention of the Rapid City community and the west enough that they are considering moving some tournaments here,” Walstrom said. “It will be great for our scholastic children to be able to experience the play styles of children across the state.”

The state tournament will be for K-12 students and will be rated by the United States Chess Federation. Walstrom said there is an added expense to being a member of the federation, but there will be forms to fill out and register at the time of the event. There is also a pre-registration form on the club’s website.

The club officially started in November 2021 and has had up to 50 players in a practice meeting, or when the group is learning different strategies or honing their chess knowledge. Walstrom said he held his first tournament in December.

Entry forms for both tournaments are available at rcscholasticchess.weebly.com.

— Contact Siandhara Bonnet at siandhara.bonnet@rapidcityjournal.com —

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Serious Chess Players Tackle Tournament at Neal Dow Elementary – Chico Enterprise-Record https://ajedrezenmexico.org/serious-chess-players-tackle-tournament-at-neal-dow-elementary-chico-enterprise-record/ Fri, 11 Mar 2022 12:03:52 +0000 https://ajedrezenmexico.org/serious-chess-players-tackle-tournament-at-neal-dow-elementary-chico-enterprise-record/ CHICO — The next Bobby Fischer could have been among more than 80 kindergarten through high school students who gathered at Neal Dow Elementary School on Wednesday for a chess tournament. The tournament was organized by the Sacramento Valley Scholastic Chess League. Prior to the onset of the COVID-19 pandemic, the league claims it was […]]]>

CHICO — The next Bobby Fischer could have been among more than 80 kindergarten through high school students who gathered at Neal Dow Elementary School on Wednesday for a chess tournament.

The tournament was organized by the Sacramento Valley Scholastic Chess League. Prior to the onset of the COVID-19 pandemic, the league claims it was the ninth largest school chess league in the United States and is slowly coming back.

Some of the players were local and some came from nearby cities such as Corning and Yuba City.

“Over the past year, we have made a concerted effort to replenish our competitive chess league. competing in the last two tournaments we hosted this year,” said Sacramento Valley Scholastic Chess League director Steven Oberlander and kindergarten teacher Neal Dow.

In the elementary portion, Neal Dow’s kindergarten through third grade placed first, winning trophies. In the middle section, Franklin Elementary School won. And in the older section, grades 7 through 12, students from Palmero Middle School won.

“It went really well,” Oberlander said. “We had 30 more players than in the last tournament. The numbers go back to COVID-19. We hope to get the gears back in gear and make gaming accessible to everyone. There are several girls playing, which is good.

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Bysiek twins win record against chess club | Way of life https://ajedrezenmexico.org/bysiek-twins-win-record-against-chess-club-way-of-life/ Fri, 04 Mar 2022 13:00:00 +0000 https://ajedrezenmexico.org/bysiek-twins-win-record-against-chess-club-way-of-life/ FRIENDSHIP, NY — Juliana and Sylvia Bysiek staged a simultaneous chess demonstration against 12 members of the Friendship Central School Chess Club. The girls played alternately with the black and white plays and compiled a record of 12 wins and zero losses against the club members, who ranged in age from 3rd to 10th grade. […]]]>

FRIENDSHIP, NY — Juliana and Sylvia Bysiek staged a simultaneous chess demonstration against 12 members of the Friendship Central School Chess Club. The girls played alternately with the black and white plays and compiled a record of 12 wins and zero losses against the club members, who ranged in age from 3rd to 10th grade.

The Bysiek twins are home-schooled sophomores and have been playing chess since they were four years old. They are the daughters of Edward and Evelyn Bysiek of Allegany, NY, and compete at the Bradford and Olean Chess Clubs.

“It was our first simulation and it was so much fun,” Sylvia said.

“I really enjoyed meeting the other kids and making friends with them,” Juliana said.

The girls plan to play in numerous local, state and national tournaments over the next few months, highlighted by a trip to Philadelphia to compete in the World Open in late June.

The simultaneous exhibition was organized by United States Chess Federation Master Garry Reynolds, who serves as a moderator for the Friendship Club.

Bradford coach Bob Ferguson commented: “The girls have both played in 30 US Chess Federation rated events, and they have done an outstanding job! This is also Juliana and Sylvia’s second year competing in the Bradford Businessmen’s Chess League, and they both finished top of the pack again this year. This is remarkable for children who are so young!

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“First move in the chess game between Eastern and Western capitalism” – Medya News https://ajedrezenmexico.org/first-move-in-the-chess-game-between-eastern-and-western-capitalism-medya-news/ Fri, 04 Mar 2022 11:12:40 +0000 https://ajedrezenmexico.org/first-move-in-the-chess-game-between-eastern-and-western-capitalism-medya-news/ Selahattin Demirtaş*, the imprisoned former co-chairman of the pro-Kurdish opposition Peoples’ Democratic Party (HDP) responded to questions from some young journalists on a number of topics ranging from Russia’s invasion of Ukraine to a recent statement by an opposition bloc on the “transition to a strengthened parliamentary system”. Below is Demirtaş’ response to a question […]]]>

Selahattin Demirtaş*, the imprisoned former co-chairman of the pro-Kurdish opposition Peoples’ Democratic Party (HDP) responded to questions from some young journalists on a number of topics ranging from Russia’s invasion of Ukraine to a recent statement by an opposition bloc on the “transition to a strengthened parliamentary system”.

Below is Demirtaş’ response to a question from journalist Ahmet Ayva, who asked: “While a full-scale war has started between Russia and Ukraine, and is likely to have on Eastern Europe, the Middle East and the rest of the world, what is your assessment of the statements made by the [Turkish] political administration?

Above all, it is important, as a matter of principle, to oppose war and to cry as loud as possible for peace. It’s only ethical to oppose invasions while respecting the will of the people. Yet war, a painful and destructive part of human reality for thousands of years, continues to exist as a political instrument. War in the global capitalist-imperialist system is also one of the means of implementing brutal strategies to shape markets and deal with crises.

The “Western” world today perceives the capitalist system of China and Russia, which it calls “the East”, as a threat, and tries to limit its growth by various means. The “threat” was communism in the past, and now it is “authoritarianism.” It has been made clear for some time now that we will be transitioning during Biden’s presidency in the United States to a bipolar world, a world of “democrats” and “authoritarians.” An international conference on democracy was recently held in the United States, and it was strongly implied that the uninvited states were emphatically the authoritarians.

China, Russia and Turkey were among the non-invitees. The United States and the EU tend to act in coordination with “democratic” countries as they reshape NATO, transforming it into a more than military entity with the aim of restraining the growth of Eastern capitalism, in particular in the economic sphere. Russia and China have long been aware that they are targets and they are trying to find new breathing channels. Their economic activities have increased considerably globally and particularly in Asia, Africa and the Middle East.

The control that these two great military powers have over a significant portion of the world’s energy sources as well as human labor, and the level of their capitalist power beginning to win out over Western capitalism in economic terms, has begun to force the West to act in unison. and take steps to limit eastern expansion.

Russia’s invasion of Ukraine is the first major blow to the very heart of Europe in this great game of chess, played on a global scale. This is the first step in a series of demonstrations of power that will lead to essential changes. Pain and suffering, on the other hand, fall in full force on the oppressed. We are meant to view this war game through the perspective of the oppressed and exploited. We should say that another world is possible as an alternative to capitalism and imperialism, and engage in efforts to make more visible the left perspective which is based on radical democracy, civil rights, labor rights , the rights of different social identities and beliefs, and women’s equality.

In an attempt to deal with the crisis it faces domestically and internationally, the AKP administration [Justice and Development Party] and MHP [Nationalist Movement Party] pursues a pragmatic and unprincipled policy aimed at profiting from the spoils of war.

We, on the contrary, should focus on getting through this process unscathed and should seek victory by defending peace, making the goal of democratic administration a real alternative, supporting workers’ resistance and uniting this resistance with the dynamic struggle for freedom of the Kurdish people.

* Former HDP co-chairs Selehattin Demirtaş and Figen Yüksekdağ have been incarcerated since November 2016, when their parliamentary immunities were lifted and they were arrested. Demirtaş is kept in prison despite a ruling by the European Court of Human Rights that he is imprisoned for political reasons and should be released immediately.

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Chess Players Win Bitcoin Prize As Crypto Enters More Sports https://ajedrezenmexico.org/chess-players-win-bitcoin-prize-as-crypto-enters-more-sports/ Tue, 15 Feb 2022 02:34:00 +0000 https://ajedrezenmexico.org/chess-players-win-bitcoin-prize-as-crypto-enters-more-sports/ Chess grandmasters have never been happier. In a recent chess tournament, the prizes included a crypto and an NFT trophy. This is just one example of how crypto companies are now starting to sponsor huge sporting events. The Meltwater Champions Chess Tour took place over 9 days last May. Derivative cryptocurrency exchange FTX sponsored an […]]]>

Chess grandmasters have never been happier. In a recent chess tournament, the prizes included a crypto and an NFT trophy. This is just one example of how crypto companies are now starting to sponsor huge sporting events.

The Meltwater Champions Chess Tour took place over 9 days last May. Derivative cryptocurrency exchange FTX sponsored an event on the tour – the FTX Crypto Cup. It was the first cryptocurrency prize offered for sports.

Play Magnus Group organized the tour. The contenders vying for the FTX Crypto Cup fought for $100,000 in BTC and a cash prize of $320,000. Norwegian Magnus Carlsen has been the reigning World Chess Champion since 2013. He possesses 9% of the Play Magnus group.

“As a huge sports fan and NBA enthusiast, I was thrilled to hear that FTX is continuing its evolution into sports by partnering with the Champions Chess Tour,” Carlsen said ahead of the event. “The Tour has been extremely exciting both as a competitor and as a fan. I feel renewed motivation now that we have found a partner in FTX who shares our common goal of developing chess and the Tour.

Play Magnus Group CEO Andreas Thome said it was a big moment. “We, along with many chess players around the world, have been following cryptocurrencies for many years. We are passionate about celebrating this growing industry in its very own tournament, the FTX Crypto Cup.

This chess championship was different

Tournament started with 16 chess grandmasters playing online on Chess24’s “Playzone”. Additionally, eight grandmasters qualified for the knockout stage. Magnus Carlsen defeated Teimour Rajabov and Wesley So, beating Ian Nepomniachtchi to advance to the final.

Nepomniachtchi won third place beating Rajabov and got $25,000 plus 0.25 BTC from FTX. The final match, however, had a lot more clashes and drama with five matches between Carlsen and So.

Eventually, Carlsen dominated the match by defeating So in game five. He got $60,000 and 0.6 BTC from the tournament sponsor. The 31-year-old Norwegian secured a spot in the Meltwater Champions Chess Tour final in October 2021. He conquered that too and took home an additional $100,000 with a Non-Fungible Token (NFT) trophy.

“That’s pretty sick!” I came back five times when I needed to, and also lost twice,” Carlsen said after beating So. ” This is completely crazy. I’m so glad I made it. It’s a huge relief. »

Wesley So was graceful in defeat. “I would like to thank Magnus, I think he is the fully deserved winner because I think he played the best.”

Chess and Crypto

One of the historic world chess champions, Garry Kasparov, defeated IBM’s supercomputer called “Deep Blue” in 1996. But the computer took revenge in 1997, which changed the idea that Kasparov had technology.

The 58-year-old Russian chess grandmaster shared his feelings about Bitcoin in an exclusive interview with BeInCrypto in November 2019. He said that we shouldn’t fear Bitcoin because it works using mathematics. Governmental chaos is what to fear.

“The fact at the time was that the machine could win a match against the reigning world champion under what we call normal time controls; it was a clear demonstration that the rest would come soon… It was a very important step forward, a big milestone, and people recognized the power of computers. So, 22 years later, I no longer think of it as a curse; it’s more like a blessing. I quickly realized that the era of human versus machine would soon be over and it would come down to human plus machine.

The growing number of crypto users is what made Kasparov interested in digital currency. According to Kasparov, we should explore the “untapped” power of technology instead of fighting against it.

Crypto and Sports

With the rise of cryptocurrencies, established crypto companies and startups have started sponsoring professional athletes and clubs.

According to a CNBC report, Crypto.com has acquired the naming rights to the Lakers home stadium, the Los Angeles Arena, for 20 years in a $700 million deal. Formula 1, owned by Liberty Media, has also partnered with Crypto.com in a $100 million deal.

Chiliz, one of the most popular blockchain fintech providers, has helped some of the biggest football clubs produce fan tokens. These teams included Barcelona, ​​AC Milan, Galatasaray, Paris Saint-Germain, AS Roma, Juventus and Atletico Madrid.

Additionally, Chiliz announced that it would invest $50 million to expand its reach in the United States. ”

Many footballers including Leo Messi have launched their unique NFTs on different platforms. Sports and digital assets could be a game-changer for both industries. The decentralized ecosystem is poised to become part of all industries, including sports.

Want to chat about chess, sports, crypto or anything else? So join our Telegram group.

Warning

All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.

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Chess game in Ukraine – Then24 https://ajedrezenmexico.org/chess-game-in-ukraine-then24/ Mon, 07 Feb 2022 08:00:00 +0000 https://ajedrezenmexico.org/chess-game-in-ukraine-then24/ sharp bobby fischerthe only North American to have been world chess champion, precisely beating a Soviet champion (later nationalized French) Boris Spassky, that “chess is life”. Today, a game of chess is being played in Ukraine between Russians and Americans, with a few guests, including the Ukrainians themselves. The American abandonment of Afghanistan was interpreted […]]]>

sharp bobby fischerthe only North American to have been world chess champion, precisely beating a Soviet champion (later nationalized French) Boris Spassky, that “chess is life”. Today, a game of chess is being played in Ukraine between Russians and Americans, with a few guests, including the Ukrainians themselves.

The American abandonment of Afghanistan was interpreted by many as a failure. This is also my opinion. But that Biden abandoned the Afghan regime doesn’t mean it had to be his policy anyway. In Afghanistan, the United States came to two conclusions. First, that it was not at all clear what he had lost there, and second, that the Afghan regime he had established was unwilling to defend itself, let alone put an end to the Taliban. Therefore, Biden, who had also lost a son in this war, gave the order to withdraw American troops. As we all know, the Afghan regime collapsed before the Western withdrawal was complete.

At the time, some analysts thought that this sign of weakness would jeopardize other countries in which the United States guaranteed, in one way or another, their defense, as in the cases of South Korea, Taiwan or Israel. But, in these cases, it seems clear that the United States is very clear about what it has lost, and moreover, in the event of a conflict, these countries are ready to defend themselves.

That Biden abandoned the Afghan regime doesn’t mean it had to be his policy anyway

To consider the withdrawal from Afghanistan as a sign of the immediate decline of the United States is probably a mistake. And the first place where this can be demonstrated is in Ukraine. Russia has concentrated more than 120,000 men on the border. But, so far, the only thing it has achieved is that neighboring non-NATO countries such as Finland and Sweden consider joining, because now their public opinion supports it. . What else, in Ukraine, all pro-Russian sentiment has disappeared. At the same time, the supply of weapons has increased and more and more civilians are armed.

Unlike the annexation of Crimea, it seems that the Western reaction this time will be more forceful. The problem for Russia is that an invasion can cost a lot of human lives, in addition to facing harsh economic retaliation. It is true that Europe, and especially Germany, would be hard hit if Russia stopped supplying gas. However, this does not affect the The United States, which will probably become the world’s largest gas exporter this yearaccording to forecasts by the International Energy Agency.

If the Ukrainians are prepared to defend themselves, then a tough stance on Ukraine costs the United States little. On the other hand, for Europe, the more than foreseeable cut in gas supply would mean an aggravation of the energy crisis. But still, Europe does not take the decisions within NATO, and nor can he allow a sovereign country in Europe to be invaded and make no decision.

It does not appear that Putin has anything to gain from an armed invasion of Ukraine. What is happening is that it seemed the opposite, that with the mere threat, Russia could take a new piece. The background was that in Crimea, the population did not oppose the Russians and the Western reaction was lukewarm. On the other hand, Europe, especially Germany, needs more expensive gas than ever. And the Afghan precedent highlighted the weakness.

The problem is that, although there are cultural and historical affinities, the population of the rest of Ukraine is not that of the Donbass, nor that of the Crimean peninsula. And that Biden can’t afford another humiliation for domestic political reasons, but mainly because of the rivalry with China. Of course, the European piece is the most misplaced in this game of chess.

We Europeans should invest more in the Common Foreign and Security Policy in Europe

Two lessons from this game of chess are that we Europeans should invest more in the common foreign and security policy in Europe. The second lesson is that energy policy is of enormous geostrategic importanceand this must be taken into account.

For example, the German decision to closing its nuclear power plants early has not only been very expensive for its electricity consumers, but has also weakened its geostrategic position. On the other hand, the fact that Spain has regasification plants and a gas pipeline with Morocco will allow Spain to supply the natural gas that Moroccans buy on the international market. This freed Morocco from a very serious supply problem and Spain from enormous instability. A political decision made possible because the energy infrastructure existed.

In this game of chess time is running out, fortunately, against the war. On the one hand, gas consumption is significantly reduced at the end of winter. On the other hand, in the spring, large-scale military operations are much more complicated in muddy terrain. Let’s hope all sides act rationally and don’t miscalculate, let alone believe that full-scale war solves problems, let alone brings security.

*** Francisco de la Torre Díaz is an economist and tax inspector.

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Commodity ETF (USCI) Hits New High in 52 Weeks https://ajedrezenmexico.org/commodity-etf-usci-hits-new-high-in-52-weeks/ Tue, 01 Feb 2022 14:30:00 +0000 https://ajedrezenmexico.org/commodity-etf-usci-hits-new-high-in-52-weeks/ For investors looking for dynamism, US Commodity Index Fund USCI is probably on the radar. The fund just hit a 52-week high and is up about 40.5% from its 52-week low of $33.90/share. But are more gains in store for this ETF? Let’s take a look at the fund and its near-term outlook to get […]]]>

For investors looking for dynamism, US Commodity Index Fund USCI is probably on the radar. The fund just hit a 52-week high and is up about 40.5% from its 52-week low of $33.90/share.

But are more gains in store for this ETF? Let’s take a look at the fund and its near-term outlook to get a better idea of ​​its direction:

USCI in a nutshell

The investment objective of the United States Commodity Index Fund is that the daily percentage changes in the net asset value (“NAV”) of its shares reflect the daily percentage changes in the SummerHaven Dynamic Commodity Index Total Return. The index is designed to reflect the performance of a portfolio of 14 commodity futures contracts out of 27 possible futures contracts. The product charges 1.10% annual fee (see: all Broad Commodity ETFs here).

Why the move?

The commodities market has been an area to watch lately, given the surge in prices. The recovery in demand following COVID-19, supply chain disruptions, government policy and inclement weather have all contributed to tighter markets, pushing prices higher.

More wins to come?

It looks like USCI could remain strong given a weighted alpha of 38.73 and 20-day volatility of 12.8%. As a result, there’s certainly still promise for risk-aggressive investors who want to take advantage of this booming ETF.

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Ukraine is a ‘pawn in the chess game’ of the United States, says Australian professor on Moscow-Kiev conflict https://ajedrezenmexico.org/ukraine-is-a-pawn-in-the-chess-game-of-the-united-states-says-australian-professor-on-moscow-kiev-conflict/ Sat, 29 Jan 2022 02:45:00 +0000 https://ajedrezenmexico.org/ukraine-is-a-pawn-in-the-chess-game-of-the-united-states-says-australian-professor-on-moscow-kiev-conflict/ Tensions along the Ukraine-Russia border have continued to escalate after Moscow deployed more than a million troops to the Eastern European region since October last year . In light of the situation, as the West continues to note Russia’s aggressive behavior against Kiev, a professor emeritus from La Trobe University in Melbourne, Joseph Camilleri, explained […]]]>

Tensions along the Ukraine-Russia border have continued to escalate after Moscow deployed more than a million troops to the Eastern European region since October last year . In light of the situation, as the West continues to note Russia’s aggressive behavior against Kiev, a professor emeritus from La Trobe University in Melbourne, Joseph Camilleri, explained why the United States is concerned about the speculation about a potential “Russian threat” and its consequences. . Speaking to Sputnik, Professor Cammileri said: “The United States is playing a leading role…to put the Russian side on its back”, adding that Ukraine is “a pawn in the game of American Chess”.

Asked for his opinion on the main objective of the West and the possible blowback, despite Russia claiming that it does not want to invade Ukraine, Professor Camilleri said: “I think they ( the United States) want to protest against this position and they want to feel , on the Russian side on the back. That’s what they are trying to do. And the question is: how will this situation be handled by the two parties so that nothing unpleasant happens in any part of Europe.” Since US intelligence officials detected the buildup of troops on the Ukraine-Russia border, the US has helped warn Moscow of potential sanctions in the event of an attack on Kiev’s sovereignty. Nevertheless, Russia has repeatedly refuted the allegations, saying it had no intention of undermining Ukraine’s territorial integrity.

“Russia has stated that it has no intention of doing so and therefore none of these threats are expected to materialize. But, nevertheless, the fact that this has happened, that these threats have been made creates a tense situation. And I think the backlash is that it prevents and promotes dialogue and a constructive relationship in Europe and that can have wider implications beyond Europe,” said Professor Joseph Camilleri, Emeritus of La Trobe University, quoted by Sputnik.

Explaining the inversely proportional relationship between the backlash of Russian and Western threats, Europe in particular, Professor Camilleri explained that “I could backfire in terms of increased instability in Europe, and that doesn’t will benefit neither Western Europe nor Eastern Europe, Ukraine included, (creating) greater tension outside of Europe.” He also stressed the importance of Russian-American dialogue for the resolution of conflicts, including the Middle East as well as the Iranian nuclear program.

Ukraine is the “pawn in the chess game” of the United States

Russia has often accused the United States of “alarmist” behavior with Russian Foreign Minister Sergei Lavrov, saying Washington is stoking hysteria around the situation on Eastern Europe’s borders. Referring to the same, Professor Camilleri said: “I think the United States is interested in Ukraine in the sense that Ukraine is the final nail, so to speak, it is the final price. that they would like to have at the end”. When asked if Russia and China could develop a strategic partnership to confront the United States, he added:

“It’s a pawn in a game of chess that they’re trying to play, but I think by doing it the way they’re doing it could well in the very near future bring China and Russia even closer together in this domain.”

In the latest development on the Moscow-Kiev conflict, the United States and NATO sent a written response to Russia on the list of security demands it made last December. The list included the exclusion of Ukraine, a former Soviet nation, from joining the international military bloc, in addition to the withdrawal of NATO troops from post-1997 borders and the limitation of the deployment of the weapons system. On the other hand, countries like the UK and Canada have given financial and technical assistance to Kiev in an effort to deter Russian aggression.

(Picture: AP)

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Scary fraud ensues when identity theft and usury collide – Krebs on Security https://ajedrezenmexico.org/scary-fraud-ensues-when-identity-theft-and-usury-collide-krebs-on-security/ Tue, 25 Jan 2022 20:02:32 +0000 https://ajedrezenmexico.org/scary-fraud-ensues-when-identity-theft-and-usury-collide-krebs-on-security/ What’s worse than finding out that identity thieves have taken out a 546% interest payday loan in your name? How about a loan at 900% interest? Or how about not learning about the fraudulent loan until it’s turned over to debt collectors? A reader’s nightmarish experience sheds light on what can happen when identity thieves […]]]>

What’s worse than finding out that identity thieves have taken out a 546% interest payday loan in your name? How about a loan at 900% interest? Or how about not learning about the fraudulent loan until it’s turned over to debt collectors? A reader’s nightmarish experience sheds light on what can happen when identity thieves and hackers start targeting online payday lenders.

The reader who shared this story (and the abundant documentation that accompanies it) requested that his real name be omitted to avoid encouraging further attacks on his identity. So we’ll call him “Jim”. Last May, someone applied for a type of loan in Jim’s name. The request was likely sent to an online portal that takes the borrower’s loan request details and shares them with several potential lenders, as Jim said that over the next few days he received dozens of emails and calls from lenders wanting to approve him for a loan.

Many of these lenders were eager to give Jim money because they were charging exorbitant interest rates of 500-900% for their loans. But Jim has long had a security freeze on his credit file with all three major consumer credit bureaus, and none of the lenders seemed willing to proceed without at least taking a look at his credit history. credit.

Among the companies that checked to see if Jim still wanted that loan he never applied for last May was Mountain Summit Financial (MSF), a lending institution owned by a Native American tribe in California called Habematelol Pomo d’ Upper Lake.

Jim told MSF and others who called or emailed that identity thieves had requested the funds using his name and information; that he would never take out a payday loan; and would they like to remove his information from their database? Jim says MSF assured him that would be the case and the loan was never granted.

Jim spent months sorting out this mess with MSF and other potential lenders, but after a while the inquiries died down. Then, on November 27, Thanksgiving weekend, Jim received a series of quick emails from MSF stating that they had received his loan request, that they had approved it, and that the requested funds were now available on the specified bank account. in his MSF profile.

Curiously, the scammers had taken out a loan in Jim’s name from MSF using his real email address – the same email address the scammers had used to impersonate MSF in May 2021. Although he didn’t don’t technically have an account with MSF, their authentication system is based on email addresses, so Jim requested that a password reset link be sent to his email address. It worked, and once inside the account, Jim was able to find out more about the details of the loan:

The terms of the unauthorized loan in Jim’s name from MSF.

Take a look at the 546.56% interest rate and finance charges shown on this $1,000 loan. If you pay off this loan in one year at the suggested bi-weekly payment amounts, you will have paid $3,903.57 for that $1,000.

Jim contacted MSF as soon as they opened the following week and discovered that the money had already been paid into a Bank of America account which Jim did not recognize. MSF asked Jim to complete an affidavit claiming the loan was the result of identity theft, which required filing a report with local police and a number of other steps. Jim said numerous calls to the Bank of America fraud team went nowhere because they refused to discuss an account that was not in his name.

Jim said MSF eventually agreed the loan was not legitimate, but they couldn’t or wouldn’t tell him how his information got to a loan – even though MSF was never able to pull it back. his credit report.

Then, in mid-January, Jim learned from MSF by post that they had discovered a data breach.

“We believe the stranger may have had the ability to gain access to certain customer accounts, including your account, in which case they could view that customer’s personal information and potentially obtain an unauthorized loan using the client’s credentials”, MSF mentioned.

MSF said personal information involved in this incident may include name, date of birth, government-issued identification numbers (e.g. SSN or DLN), bank account number and routing number. , home address, email address, phone number and other general loan information. information.

Part of the breach notification letter dated January 14, 2022 from tribal lender Mountain Summit Financial.

Never mind that his information was only in MSF’s system due to an earlier attempt by identity thieves: the intruders were able to update his existing file (never deleted) with new banking information, then push the application via MSF systems.

“MSF has been the target of a suspected attack by a third party,” the company said, noting that it was working with the FBI, the California Sheriff’s Office and the Tribal Commission in Lake County, California. “Ultimately, MSF confirmed that these trends were part of an attack that originated outside the company.

MSF did not respond to questions regarding the aforementioned third party(ies) that may be involved. But it’s possible that other tribal lenders were affected: Jim said that shortly after MSF’s bogus payday loan was set up, he received at least three inquiries in quick succession from other lenders who were suddenly interested in offering him a loan.

In a statement sent to KrebsOnSecurity, MSF said it had been “victim of a malicious attack from outside the company, by unknown perpetrators”.

“As soon as the problem was discovered, the company initiated cybersecurity incident response measures to protect and secure its information; and informed law enforcement and regulators,” MSF wrote. “Additionally, the company has notified individuals whose personally identifiable information may have been affected by this crime and is actively working with law enforcement in its investigation. As this is an ongoing criminal investigation, we cannot make any further comments at this time.

According to Native American Financial Services Association (NAFSA), a trade group in Washington, D.C. representing tribal lenders, the short-term installment loan products offered by NAFSA members are not payday loans but rather “installment loans” – which are amortized, have a set loan term, and require payments that not only serve interest, but also repay the principal of the loan.

NAFSA did not respond to multiple requests for comment.

Almost all US states have usury laws that limit the amount of interest a business can charge on a loan, but these limits generally do not apply to tribal lenders.

Leslie Bailey is an attorney at Public Justice, a nonprofit legal defense organization in Oakland, California. .

“The reason is clear: genuine tribal businesses are entitled to ‘tribal immunity’, which means they cannot be sued,” Bailey wrote in a blog post. “If a payday lender can shield itself from tribal immunity, it can continue to make loans with illegally high interest rates without being held liable for violating state usury laws.”

Bailey said that in a common type of arrangement, the lender provides the capital, expertise, staff, technology and corporate structure needed to run the lending business and retains most of the profits. In return for a small percentage of the revenue (usually 1–2%), the tribe agrees to help draft documents naming the tribe as the owner and operator of the lending business.

“Then, if the lender is sued by a state agency or group of deceived borrowers, the lender relies on those documents to claim that he is entitled to immunity as if he were himself. even a tribe,” Bailey wrote. “This type of arrangement – sometimes called ‘leasing a tribe’ – has worked well for lenders for a time, as many courts have taken company documents at face value rather than looking behind them. the curtain on who really gets the money and how the business is actually run. But if recent events are any indication, the legal landscape is moving towards greater accountability and transparency.

In 2017, the Consumer Financial Protection Bureau sued four tribal online lenders in federal court — including Mountain Summit Financial — for allegedly misleading consumers and collecting debts that weren’t legally owed in multiple states. All four companies are owned by Habematolel Pomo of Upper Lake.

The CFPB later dropped this investigation. But a class action lawsuit (PDF) against those same four lenders is pending in Virginia, where a group of plaintiffs have alleged that the defendants violated the Racketeer Influenced and Corrupt Organizations Act (RICO) and the Virginia usury by charging interest rates between 544 and 920. percent.

According to Buckley LLP, a Washington, D.C.-based financial services law firm, a district court denied RICO’s claims but denied the defense’s motion to compel arbitration and dismiss the case, holding that the arbitration clause was unenforceable as a potential waiver by the borrowers. ‘ federal rights and that the defendants could not claim tribal sovereign immunity. The district court also “held the loan agreements’ tribal choice of law to be unenforceable as a violation of Virginia’s firm public policy against unregulated loansharking loans.”

Buckley notes that on November 16, 2021, the United States Court of Appeals for the Fourth Circuit upheld the district court’s decision, finding that arbitration clauses in loan agreements “impermissibly require borrowers to waive their substantial federal rights under federal consumer protection laws, and contained an unenforceable tribal provision on choice of law, as Virginia law caps general interest rates at 12%.

Jim said he only heard about the MSF Thanksgiving weekend loan because the hackers apparently thought it was easier to get loans using existing MSF client account information than to change anything. it is in records other than the bank account to receive the funds.

But if the hackers had changed the email address, Jim might have first discovered the loan when the collection agencies came calling. And by then, his exorbitant loan would be in default and racking up heavy charges in arrears.

Jim says he’s still mad at MSF, and these days he’s just waiting for the other shoe to drop.

“They made this loan in my name without verification and without even checking my credit, even though they were already warned that they should not have dealt with me since the incident in May,” Jim said. “I always feel like I’m going to get that call at some point from a collection agency asking me why I didn’t make payments on an installment loan that I never asked for.”

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The Richmond Chess Club is hosting a children’s chess game this Saturday https://ajedrezenmexico.org/the-richmond-chess-club-is-hosting-a-childrens-chess-game-this-saturday/ Fri, 21 Jan 2022 16:36:29 +0000 https://ajedrezenmexico.org/the-richmond-chess-club-is-hosting-a-childrens-chess-game-this-saturday/ Two local colleges are taking very different approaches to dealing with the latest wave of Covid-19 Omicron cases. Virginia Union University decided the risk to its students and fans was too great and closed all basketball games to spectators. They made the following statement on January 3. Virginia Union University Athletics has announced that there […]]]>

Two local colleges are taking very different approaches to dealing with the latest wave of Covid-19 Omicron cases.

Virginia Union University decided the risk to its students and fans was too great and closed all basketball games to spectators. They made the following statement on January 3.

Virginia Union University Athletics has announced that there will be a new “No Fan/Spectator” policy for its men’s and women’s basketball games at Barco-Stevens Hall until further notice.

Student-athlete and campus safety is the primary concern and reason for the temporary policy. The University is committed to implementing and maintaining a series of measures to help promote the health and well-being of students, employees and visitors to campus and to help reduce the risk of exposure and potential spread of COVID-19.

Only essential personnel will be permitted in Barco-Stevens Hall, which includes participating team members, coaches, officials, athletic trainers, scorer’s table staff and administrative staff.

Virginia Commonwealth University, on the other hand, continued to allow fans but kept a weakly enforced mask mandate.

VCU decided to increase the difference between the two programs by organizing a “Diaper Derby”. If you’re unfamiliar, a Diaper Derby involves letting young children crawl a set distance and the winner takes home a prize, in this case $529 for college. The twist is that the Covid vaccination is not currently available for anyone under the age of 5, so none of the babies will be vaccinated.

On January 12, CNN reported on the upsurge in Covid cases among children.

Childhood Covid-19 hospitalization rates are skyrocketing in the United States, with an average of 4.3 children under age 5 per 100,000 hospitalized with an infection as of the week ending January 1 , up from 2.6 children the previous week, according to data from the US Centers for Disease Control and Prevention.

This represents a 48% increase from the week ending December 4 and the largest increase in hospitalization rates this age group has seen during the pandemic.

“For our youngest children, those who are not yet eligible for vaccination, it is extremely important that we surround them with vaccinated people to provide them with protection,” CDC Director Dr. Rochelle Walensky said Friday.

Here is what VCU Athletics tweeted went out last night.

Whether college athletics continues is a debate for another time.

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