Americaâ€™s levees, dams, navigation projects will decay without new money sources, report says.
Americaâ€™s vast network of levees, dams, navigation structures, and hydroelectric power facilities will continue to decay if the federal government does not find new ways to pay to for their maintenance and operation, and fail to prioritize new projects already approved, said a new study released October 4 by the National Academy of Sciencesâ€™ National Research Council. The report outlines six alternatives for policymakers, many of which call for greater reliance on private funding to maintain the sprawling infrastructure maintained by the U.S. Army Corps of Engineers, including new fees on shippers and manufacturers. Options include to: hike federal funding; decommission or sell parts of the infrastructure overseen by the Corps; boost revenue collected from the beneficiaries of infrastructure projects; and expand partnerships with private industry and local government. The report also calls on the Corps to consider flood-control methods other than building new structures, such as removing or raising existing homes and businesses from flood-prone areas and adopting land use and zoning rules that would avoid new construction. The system the Corps manages was estimated to be worth $237 billion in the 1980s, but is now worth only $164 billion, the study said.
Fraudulent e- mails claiming to be from the FDIC.
The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent emails that have the appearance of being sent from the FDIC, according to a notice released October 3. While the emails exhibit variations in the â€•Subjectâ€– lines, the messages are similar. They all make reference to the suspension of recipientâ€™s ability to conduct transfers via ACH and/or wire transfer. The emails then encourage recipients to install a software update by clicking on a link provided. They then say that functionality will be restored once the software update is installed. The emails and the link provided are fraudulent. Recipients should consider the intent of these emails to load malicious software on the recipientâ€™s computer, or to collect personal or confidential data. Recipients should not click on the link provided. The FDIC does not send unsolicited emails to consumers or business account holders.