Fraud detection in payment networks relies on labels generated through heterogeneous and imperfect observation processes, yet existing approaches treat fraud as a homogeneous binary variable. We show that this assumption is structurally incorrect and leads to provable inefficiency. We introduce an observation-mechanism taxonomy that partitions fraud into five classes, each defined by a distinct censorship and labeling pipeline. We prove that estimating fraud rates separately by class and aggregating strictly dominates pooled estimation, with the efficiency gap characterized as a Jensen penalty arising from heterogeneous observation rates. For each class, we derive the binding theoretical constraint on detection, including endogenous label corruption, structural non-observability, and feature non-informativeness. These results establish that fraud detection is fundamentally a collection of distinct estimation problems, each governed by its own observation structure and detection limit.

Why Iran won't give up Hormuz Could Israel sabotage US-Iran deal? Lawmakers in the United States are quietly advancing a proposal that could deepen military ties between the US and Israel in unprecedented ways, at a time when public support for Israel among Americans is increasingly fractured. Among the provisions included in the 2027 National Defence Authorisation Act (NDAA) released this week is Section 224, the "United States-Israel Defence Technology Cooperation Initiative". Some legislators have already signalled opposition, with Representative Thomas Massie saying he would seek to remove the provision if it reaches the House floor. The measure remains at an early stage, but analysts say if passed, it would limit political oversight over the defence relationship.

Bogota - Colombians vote Sunday in a presidential election that will determine the conflict-ridden nation's response to spiraling violence, either staying left and opting for dialogue or tacking right towards all-out war. The constitution forbids a second term for the country's first-ever leftist President Gustavo Petro, whose "total peace" strategy has failed to negotiate an end to conflict with armed groups. Despite his absence from the ballot, "the campaign revolves around Petro," said Yann Basset, political science professor at Bogota's University of Rosario. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right. With your current subscription plan you can comment on stories.

Junya Ogawa, leader of the Centrist Reform Alliance, attends a news conference on Friday in Tokyo. Moves to launch a new party have emerged among three opposition parties in Japan, sources said Sunday. The idea arose in the course of talks on the possible integration of the Constitutional Democratic Party of Japan and Komeito into the Centrist Reform Alliance. The CRA and Komeito are keen about the new opposition party option. Some senior members of the CDP and officials of a major labor union supporting the initiative are also positive, according to sources familiar with the matter. In a time of both misinformation and too much information, quality journalism is more crucial than ever.

KYOTO - Nidec President Mitsuya Kishida has said the major Japanese motor maker will suspend business acquisitions for the time being to focus its efforts on reconstructing the firm rocked by accounting and product quality fraud. Business acquisitions have been a growth driver for Nidec, based in Kyoto. "I will work on rebuilding our company's governance system," Kishida said in an interview Friday, showing a plan to spend ¥130 billion over five years on measures to prevent irregularities. A panel of outside experts that investigated the accounting fraud has concluded that excessive pressure from Nidec's founder, Shigenobu Nagamori, on company staff to meet performance targets was among the factors behind the irregularities. Pointing out that Nidec had "a corporate culture to pursue short-term profits," Kishida said, "We will build a system that makes it impossible to commit irregularities regarding accounting and product quality control." On future business management, he said, "We will review our operations, including the possibility of ceding what we have in our group to partner entities," suggesting that consolidating some of its existing operations could be an option.

Yo Kitamura won the fifth prize in the cello division of the Queen Elisabeth Competition in Brussels on Sunday. Brussels - Yo Kitamura of Japan won the fifth prize in the cello division of the prestigious Queen Elisabeth Competition in Brussels on Sunday. In the final selection process joined by 12 cellists, Kitamura, 22, who is from Nishinomiya, Hyogo Prefecture, played Russian composer Sergey Prokofiev's Symphony-Concerto and other works with the Belgian National Orchestra on Tuesday. "I couldn't make it to the top three, but I think it is a meaningful experience because I was able to grow so much," Kitamura told reporters. "I want to face my big dream of making the world peaceful with music." The winner of the cello division is Ettore Pagano, 23, from Italy.

With Sunday marking World No Tobacco Day designated by the World Health Organization, experts urge Japan to introduce pictorial warnings about the dangers of smoking on tobacco packages. Many countries require cigarette packages to display images warning of health hazards related to smoking, such as a blackened lung. But there is no such requirement in Japan. A survey by a team at Japan's health ministry has found that warning labels featuring images are more effective in discouraging smoking than text-only warnings. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.

Playing by a well-worn Silicon Valley playbook, AI companies charged rock-bottom prices to hook customers after ChatGPT burst onto the scene. New York - Artificial intelligence is getting expensive -- and companies are starting to rethink their embrace of the disruptive technology. Playing by a well-worn Silicon Valley playbook, AI companies charged rock-bottom prices to hook customers after ChatGPT burst onto the scene. Kevin Simback of startup incubator Delphi Labs calls it the era of "subsidized intelligence" -- meaning investors were basically footing the bill so companies could offer AI on the cheap. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.

Hong Kong - Claw machine lover Neiki Lee carefully lowers the metal jaws of a crane with a joystick into a pool of prizes, only to have the small toy slip from its clutches again and again. Dozens of stores filled with claw machines have sprung up on streets and in malls across Hong Kong's finance hub in recent years, promising players a treasure trove of prizes and a sense of fulfillment. The colorfully lit machines, often seen drawing people like moths to a flame, have come under regulatory scrutiny this month, as officials raised addiction concerns over the seemingly harmless games. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right. With your current subscription plan you can comment on stories.

U.S. says capable of resuming war with Iran as deal remains elusive Washington - The United States warned Saturday that it was "more than capable" of resuming its war with Iran after President Donald Trump said any peace deal must adhere to his red lines, including Tehran never being able to develop nuclear weapons. The White House had signaled Trump was close to a decision on a potential deal, though Tehran denied there was a final agreement on ending the conflict. U.S. sources had said the deal was waiting on Trump's signoff, but he made no decision after a White House Situation Room meeting on Friday. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right. With your current subscription plan you can comment on stories.