Jamaica Customs implementing measures to reduce transaction time

Saturday, January 10, 2015 | 11:54 AM    

KINGSTON, Jamaica – The Jamaica Customs Agency (JCA) is implementing new measures to streamline its business processes and reduce transaction and waiting times for customers.

“These customer service initiatives not only speak to the service delivery provided by our staff, but also all our business processes and of course updating our information systems technology,” said Major Richard Reese, Chief Executive Officer (CEO) of the JCA.

Reese said that the agency is continually striving to enhance its services in an effort “to establish a culture that exemplifies quality customer service and high maintenance of service standards.”

He noted that since receiving executive agency status in 2013 the entity has gone through a number of organisational changes in accordance with its long term modernisation plan.

“We are doing very well both in terms of revenue and trade facilitation within the confines of the existing legislation. So, we are now in the process of amending the laws to facilitate better trade,” the CEO said, adding that some of the laws have already been changed to support electronic transactions.

“Our regulations are to be amended to support the flexi-work week to look at shift systems, so we are continually in the mode of change and reviewing our business processes,” he said.

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Jamaica Customs implementing measures to reduce transaction time

Scotia moves to further reduce credit/debit card fraud

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver,com SCOTIABANK Jamaica will be implementing a security system to further minimise credit and debit card fraud within another 12 months.

Wednesday, December 17, 2014    

SCOTIABANK Jamaica will be implementing a security system to further minimise credit and debit card fraud within another 12 months.

The CHIP/EMV card processing system will require customers to insert their cards into point-of-sale terminals instead of swiping, to authenticate transactions. This should allow for faster processing at checkout points in addition to enhanced security, according to Monique Todd, Scotiabank Jamaica’s vice-president of marketing, public and corporate affairs.

“Plans are already well on the way for Scotiabank to switch over to the CHIP/EMV card processing system by the end of 2015,” Todd told the Jamaica Observer in an e-mailed response. “Once fully implemented, customers will no longer need to sign transaction receipts and verify their signature.”

EMV, or Europay, MasterCard and Visa card, has already been implemented in a number of countries, including the United States. A study conducted in that country estimates that close to 1.1 billion EMV cards will be issued by the end of 2015, costing banks US$3.85 billion ($435 billion) to issue the cards and another US$6.5 trillion ($734.5 trillion) for the upgrading of point-of-sale systems to become EMV-compliant.

Traditionally, electronic cards use a magnetic strip which stores data, allowing anyone who accesses the data to gain sensitive information. However, the new card will feature a small magnetic square that will increase protection against fraud, by creating a unique transaction code each time the card is inserted for payment.

For the first few months, the EMV cards should be equipped to use both chip and magnetic-strip functions to avoid disruptions and allow time for merchants to adjust. While the new system will not prevent data breaches from occurring, Scotia believes it will make it much harder for hackers to conduct fraudulent transactions.

Over the last five years, commercial banks have seen a significant increase in the number of transactions carried out by credit and debit cards. A report by the Bank of Jamaica indicated that the banks recorded a 52 per cent increase in credit card receivables, moving from $11.6 million at the end of June 2009 to $24.3 million for the comparative period this year.

Still, credit card fraud has amounted to more than US$58,000 and J$34 million during the first five months of this year, and is now classified as the most productive means of swindling local currency from bank customers.

Scotia has been strengthening its online banking security system after recording a $150-million loss over a nine-month period to debit and credit card fraud transactions in 2010. Since then, the bank has managed to reduce the number of credit and debit card liabilities by 57 per cent.

The EMV, or Europay, MasterCard and Visa card, has already been implemented in a number of countries, including the United States

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Scotia moves to further reduce credit/debit card fraud

US reduce Europe"s lead to one point

By Rob Hodgetts BBC Sport at Gleneagles Rory McIlroy and Ian Poulter grabbed a vital half to keep Europe in front 6½-5½ after a strong United States fightback in the Saturday morning fourballs at Gleneagles.

The European duo pegged back Rickie Fowler and Jimmy Walker on the final green to prevent America drawing level following two earlier wins.

Jim Furyk and Hunter Mahan beat Jamie Donaldson and Lee Westwood 4&3, and Patrick Reed and Jordan Spieth defeated Thomas Bjorn and Martin Kaymer 5&3 as the USA threatened to dominate.

Justin Rose & Henrik Stenson won 5&4 v Bubba Watson & Webb Simpson

Thomas Bjorn & Martin Kaymer A/S Rickie Fowler & Jimmy Walker

Stephen Gallacher & Ian Poulter lost 5&4 to Jordan Spieth & Patrick Reed

Rory McIlroy & Ian Poulter halved Jimmy Walker & Rickie Fowler

Justin Rose and Henrik Stenson won their third straight point in a thrilling opening match with a 3&2 win against Bubba Watson and Matt Kuchar, but it required some Poulter magic to turn around the final group.

The Englishman, Europe’s top points scorer in the last three Ryder Cups, was out of sorts alongside world number one McIlroy, who largely carried his side in a tight battle against Walker and Fowler.

The Americans, who had halved both of their previous matches, went one up for the first time at the 13th, but Poulter revived memories of his fist-pumping and eye-bulging of two years ago with a chip-in for a crucial half on the 15th and a birdie on the 16th to get back to all-square.

Still level going up the last, both Europeans secured a birdie four leaving Fowler a 20ft eagle putt for the match, which he missed.

“I made a couple of quick birdies to start the match off, which was great, and then fell asleep in the middle,” said Poulter.

Jamie Donaldson & Lee Westwood v Zach Johnson & Matt Kuchar

Sergio Garcia & Rory McIlroy v Jim Furyk & Hunter Mahan

Martin Kaymer & Justin Rose v Jordan Spieth & Patrick Reed

Victor Dubuisson & Graeme McDowell v Jimmy Walker & Ricky Fowler

Leading 5-3 overnight, Europe struck the first blow on Saturday when Rose and Stenson set a new Ryder Cup record for a fourball match of 12 under in their thrilling win over Masters champion Watson and Kuchar. The 21 under collectively for both sides was another record and was testament to the quality of play.

Europe trailed by two after six but Stenson’s birdie on seven – and a long Rose birdie putt on eight sparked Europe’s renaissance. The Englishman holed a putt from off the green on the 10th for a good half, and when Stenson dropped a curling 20-footer on the 12th, the Europeans took the lead for the first time.

Rose added another to win the 13th and sealed an absorbing match with a further birdie on 16, but the scoreboard was all red behind.

Ryder Cup 2014: Justin Rose sinks ‘superb’ double birdies

“From start to finish, we played well and they played well but it’s unheard of to finish with 10 birdies in a row,” said Rose, who sunk a series of improbable putts to take his overall Ryder Cup record to an impressive nine wins and three defeats.

“I was forcing myself to stay in the zone, it’s so hard to come by when it gets like that and you just don’t want to burst your bubble.”

“It was it was one-half Stenson, one-and-a-half part Rose,” said Stenson, who was given a break for the afternoon to rest his sore back.

“Justin played phenomenally all week, and luckily I was there to back him up on a couple of occasions.”

Furyk and Mahan went ahead at the first and never let the Europeans – who combined for a point on Donaldson’s debut on Friday – get back to as much as level.

Spieth and Reed, upset at being left out of the Friday foursomes, followed up their opening 5&4 win with another resounding effort against Danish veteran Bjorn and US Open champion Kaymer of Germany.

“We’re both such good mid-to-long range putters that all we need to do is give ourselves chances and they’re going to go in. We were a little upset at not making certain putts but ultimately our mental game kept us in the game early and then we warmed up,” said Spieth.

But in a third finish on the 18th for McIlroy, the Europeans dug out a vital half point to stem the American tide.

Venue: Gleneagles, Scotland Dates: 26-28 September Start times: 07:35 and 13:15 BST on Friday and Saturday and 11:36 BST on Sunday.

Coverage: Live radio and text commentary on BBC Radio 5 live, online, tablets, mobiles and BBC Sport app. Highlights on BBC Two.

Patrick Reed and Jordan Spieth have won both matches in their first Ryder Cup Ian Poulter hit four birdies during the defeat to Jimmy Walker and Rickie Fowler Patrick Reed and Jordan Spieth have won both matches in their first Ryder Cup Justin Rose hit seven birdies during his morning win with Henrik Stenson Jim Furyk and Hunter Mahan lost the one match they played each on Friday

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US reduce Europe"s lead to one point

GOJ to reduce public debt by one per cent by early 2015

The Government of Jamaica is to reduce guaranteed debt and other public debt by at least one per cent or $16 billion by early next year.     
That’s the indication given in the latest update on the country’s programme with the IMF.  
The report says the scheduled reduction in the public debt through asset swaps and sales as well as a reduction in guarantees are progressing in line with expectations.     
The IMF says the Government has so far established the legal and administrative processes involved in carrying out the plan

View the original article here

GOJ to reduce public debt by one per cent by early 2015

GOJ to reduce public debt by one per cent by early 2015

The Government of Jamaica is to reduce guaranteed debt and other public debt by at least one per cent or $16 billion by early next year.     
That’s the indication given in the latest update on the country’s programme with the IMF.  
The report says the scheduled reduction in the public debt through asset swaps and sales as well as a reduction in guarantees are progressing in line with expectations.     
The IMF says the Government has so far established the legal and administrative processes involved in carrying out the plan

View the original article here

GOJ to reduce public debt by one per cent by early 2015