The Traderszone Network

Scam artists conned the federal government out of at least $5.2 billion in fraudulent tax refunds last year—and though that estimate is shocking enough—the amount is likely much higher, auditors warned on Monday. Identity tax refund fraud has ballooned in recent years as electronic filing gives thieves an easy way to use stolen social security numbers and simply file phony tax returns. Though the electronic filing has made the tedious process more bearable and user-friendly for taxpayers, it has also made it much easier for criminals to scam the system.

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Submitted by Nomi Prins, author of All The Presidents’ Bankers, via NomiPrins.com,

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BlackBerry and Apple might be at opposite ends of the technology business spectrum, but one thing they both share is a vision of opportunity in this $2.5 trillion industry.

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After a wave of restrictions to stop the housing market from overheating, many Chinese cities are now pulling down such curbs in an effort to prop up the ailing real-estate sector, with Nanjing becoming the latest to take the plunge, Caixin Online reports.
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The dollar hovered just below a four-year peak as the euro steadied near a 14-month trough with sellers taking a bit of a breather.

Tensions over Hong Kong’s political future are laid bare as students walk out of classes to demand genuine electoral choice, while scores of the city’s business leaders descend on Beijing to meet with Chinese President Xi Jinping and air their own views.
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The Iraqi government’s forces have scarcely budged Sunni extremists of the Islamic State from their hold. The NYT reports.