Friday, June 17, 2011

Fisher Capital Management Scam Prevention News: Chester-based GB Group’s software praised for fraud prevention

  • by Neil Hodgson, Liverpool Daily Post

  • Mar 31 2011

  • SOFTWARE designed by Chester-based data management specialist GB Group has achieved a six-fold return on investment for a financial industries client.
    LaSer UK, in Solihull, is jointly owned by French retail and investment bank BNP Paribas and retailer Galeries Lafayette and provides a range of credit and loyalty services.
    It manages more than four million customers on behalf of more than 200 organisations and used GB’s URU programme to verify customer identities during the recruitment process.
    After a successful trial LaSer has adopted URU at all three of its business areas – Creation Consumer Finance, Creation Financial Services and Sygma Bank UK – and Ian Frith, its fraud and underwriting manager, said: “For every pound spent with GB Group we’ve saved six through fraud prevention.”
    He said URU is “a truly innovative verification tool, unlike anything else we viewed in the market, which also provided customers with a slick and simple sign-up experience.”

    Fisher Capital Management Scam Prevention News » Blog Archive » Fisher Capital Management Scam Prevention News: Internet fraudsters always open to change

    Excited about getting a tax refund? Watch out -there’s a scam for that.
    Just as Apple says “there’s an app” for many of life’s tasks, criminals are perpetually tailoring e-mail scams that capitalize on current events and prey on people’s instincts.
    Phoney donation drives typically flood the Internet after natural disasters. And during the FIFA World Cup in 2010, scammers latched onto the event’s global appeal to create fake contests and lotteries.
    “During the royal wedding, there will probably be one,” said Const. Kathy Macdonald of the Calgary police crime prevention unit.
    The ever-evolving multitude of e-mail frauds recently took on a Calgary flavour when spam messages bearing the name and image of police Chief Rick Hanson started making the rounds.
    The fake Hanson was used to lend a legitimate appearance to a scam telling recipients they had received a multimilliondollar inheritance and instructing them to send a sum of money to pay for legal costs involved in claiming it.
    Police said at least one victim from Calgary lost money, despite seemingly obvious red flags such as the “calgarypolices@yahoo.com” e-mail address.
    In 2010, the Canadian Anti-Fraud Centre recorded $53 million lost due to mass-market frauds such as spam e-mails and telephone scams.
    That total represents Canadians targeted by frauds based in this country and abroad, as well as foreign victims of scams operating in Canada.
    Telephone-based frauds remain the most prevalent, with more than 23,000 reported cases. Scams using e-mail and text messages accounted for approximately 13,000 reported cases.
    While it may be easy to dismiss victims as gullible, Macdonald and other experts said the scams are often good at exploiting people’s emotions.
    During tax time last year, fake e-mails purporting to be from the Canada Revenue Agency made the rounds, advising recipients they were eligible for a large refund and instructing them to provide their bank account information.
    The e-mail was a classic “phishing” scam, which tricks recipients into divulging personal information that can then be used to steal the victim’s money or identity.
    Police departments, banks and government agencies repeatedly warn the public that they don’t send unsolicited e-mails seeking personal information -but to some, the lure of “free money” proves too strong.
    “When you want something so much, your mind kind of shuts off,” said Tom Keenan, a University of Calgary professor and technology expert.
    Not only that, scams littered with spelling mistakes and pidgin English are increasingly giving way to more realisticlooking fakes.
    A recent phishing e-mail used an exact copy of the U.S. Federal Bureau of Investigation letterhead and included an accurate facsimile of the director’s signature, said Keenan.
    “They’re upping the ante,” he said.
    Even the poorly done scams have a chance of succeeding, added Keenan, considering spammers can target tens of thousands of people with the press of a button.
    “You only have to get one out of 10,000,” he said.
    The Internet’s borderless nature and the anonymity it affords allows scammers to target people in wealthy countries such as Canada while operating with impunity in less-developed countries that don’t have vigorous law enforcement.
    Requests from Canadian police would likely “just go in the garbage can there,” Keenan said.
    That reality has police placing emphasis on providing people with advice and tips to avoid being scammed.
    “Be really selective about who you give your e-mail address to,” Macdonald said.
    People should have a primary e-mail address they use to correspond with friends and relatives and use a secondary address for online shopping, contests and surveys, she said.
    In addition to never giving out personal information in response to potential phishing scams, Macdonald said people should limit the amount of personal information they’re giving out on a daily basis via their e-mail signature.
    Police also recommend users disable the “preview” pane in their e-mail readers to prevent accidentally launching spyware or malicious software that can compromise your computer.
    Disabling e-mail previews can also cut down on junk e-mail: spammers often embed code in their e-mails that sends back a signal confirming your address when the message is opened or displayed in the preview pane.
    jvanrassel@ calgaryherald.com
    © Copyright (c) The Calgary Herald

    Fisher Capital Management Scam Prevention News: Technology against Phishing Needs to be Blended with User-Education

    Trusteer the security company recently conducted an experiment according to which, a phishing scam can fool even an extremely wary Internet-user. Taking a sample of 100 individuals who had accounts on LinkedIn the social-networking website, Trusteer dispatched e-mails to them quite like the regular messages received from LinkedIn. The result – almost 70% of the individuals got deceived and conned. Security published this on April 15, 2011.
    Actually, despite constant explanations of phishing assaults and warnings against them, people continue to become victims. Generally, security professionals are capable of elucidating the safe stuff that users require seeking as also the ways for avoiding getting victimized, still victims get made.
    Meanwhile, during the Trusteer experiment, the security company, in the guise of one fresh identity, dispatched a bogus employment warning to the selected individuals. It stated that because LinkedIn issued a warning whenever any contact of an end-user had one fresh job, it decided for utilizing the particular update technique for crafting a fake e-mail. So it selected a contact of the 100 individuals respectively and told them that this contact was employed at a firm, which was a direct rival of the Trusteer victims’ firms, the company elaborated. SCMagazine published this on April 15, 2011.
    Trusteer further explained that it introduced a link “View [contact's name] new Title” along with the contact’s photograph. Hitting on the link produced a landing web-page, which, however, wasn’t of LinkedIn. The landing page wasn’t harmful either only that it was to act as one potentially malevolent site, which loaded malware onto visiting PCs, Trusteer continued.
    Curiously, 24-hours since the e-mail’s receipt, 41 of the experimented individuals became victimized with the con and in 7-days, 68, suggesting the enormous return on the crime had it been a genuine assault.
    Nevertheless, technology although beneficial won’t stop people from becoming victimized with phishing scams. Possibly, it’ll be better if technology is combined with fundamental user-education since successes of phishing scams occur via eluding technology and exploiting the human nature.
    Besides, Trusteer suggests enterprises to evaluate their approach again vis-à-vis phishing assaults as these act extremely perilous during their day-to-day operations.
    » SPAMfighter News – 22-04-2011

    Fisher Capital Management Latest News: Japan Says Currently Importing 4.2 Million Barrels Per Day Of Oil

    http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/168112/t/Japan-says-currently-importing-4.2-million-barrels-per-day-of-oil/Default.aspx

    Okada, Asian Oil Officials In Kuwait For Meeting

    KUWAIT CITY, April 17, (Agencies): Japan is currently importing 4.2 million barrels per day of oil but demand should pick up as it works to restore its economy after last month’s devastating earthquake and tsunami, a deputy minister said on Sunday.
    “I think so, because we lost a lot of electricity supply capacity but at the same time Japan needs a lot of energy in order to restore our economy,” said Hideichi Okada, vice minister for international affairs at Japan’s economy, trade and industry ministry.
    “Japan’s economic growth rate will decrease to some extent, which means out (oil) demand will slow down for a a certain period then demand will go up again.”
    Okada told reporters Tokyo had received a number of offers of additional supplies of liquefied natural gas (LNG) from producers in the Gulf region to help the country cope with the loss of power supplies from its stricken Fukushima Daiichi nuclear plant.
    Okada was in Kuwait for a biennual meeting of Asian countries and Middle Eastern energy producers.
    Asian oil ministers and officials started arriving in Kuwait to take part in the 4th Asian Ministerial Energy Roundtable Meeting, scheduled to kick off Monday.

    Deputy oil ministers of Vietnam and South Korea, Energy Minister of Sultanate Brunei Pehin Yasmin and a senior official at Philippines Energy Ministry arrived earlier in the day.
    Qatari and Iranian oil ministers are also expected to arrive in the coming hours to participate in the meeting.
    The meeting will kick off Monday with the participation of 30 bodies, including a number of international organizations concerned with oil, gas and energy, such as the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Forum, to consider formulating a united vision on the future of the oil industry.
    Delegations would also discuss the trajectory of oil prices, ways of cooperation, problems and challenges facing the industry.
    The round-table meeting is held once every two years in one of the Asian oil countries. It was hosted first time in India 2005 then by Saudi Arabia in 2007 and then was held in Japan in 2009.

    Fisher Capital Management Latest News: Korean cars in U.S. cited for interior design

    http://motoring.asiaone.com/Motoring/News/Story/A1Story20110418-274231.html


    By Choi He-suk
    Korean carmakers have come a long way since the days of the Hyundai Pony, the first locally developed automobile to be exported.
    The days of being widely perceived as makers of cheap but unreliable vehicles are long gone with overseas surveys and consumer research showing vast improvements in their quality rankings.
    Despite such developments, local carmakers’ design capabilities appeared to be lagging behind their technological prowess.
    However, local carmakers including the two leaders Hyundai Motor Co. and Kia Motors Corp. began to pick up the slack in recent years, with Kia going on to win a number of international design awards.
    Now it appears that local carmakers’ design efforts are beginning to show on the inside as well as the outside.
    On April 7, the U.S.-based automotive industry publication Ward’s Auto announced this year’s Ward’s 10 Best Interior list, three of which were developed by or had a significant contribution from a Korea-based carmaker.
    The publication’s editors drove 51 models whose interiors had undergone full overhauls or had significant improvements to decide the winners.
    The Korean models included in the list are the compact car Hyundai Elantra, known locally as the Avante, and Kia’s midsized sedan K5.
    The other top 10 qualifier with Korean connections was the Chevy Cruze.
    The Chevrolet Cruze was developed as part of GM’s global small car project, in which GM Korea Co. played the lead role as the U.S. auto giant’s home room for mini and small cars.
    For Kia, the interior design award is only the latest in its growing list of international design awards it has won since it began to place increasing emphasis on design, beginning with the creation of the post of the chief design officer, which is filled by Peter Schreyer, in 2006.
    As a result, Kia vehicles have been among the winners in the Red Dot design awards for three consecutive years with the latest honors having been won by the K5 and the sport utility vehicle Sportage R.
    According to Kia, the K5 was selected as the Best of the Best award winner in the automobiles, transport and caravans category, while the Sportage R was a winner in the same category.
    Among the others, three spots were taken by European models ? Audi A8, BMW X3 xDrive35i and the Volvo S60 ? while an equal number of U.S. models, excluding the Chevrolet Cruze, were chosen for the award.
    The three U.S. models were the Dodge Charger Rallye Plus, Ford Focus Titanium and the Jeep Grand Cherokee Overland Summit.
    Honda’s Odyssey Elite was the only Japanese model included among this year’s winners.
    -The Korea Herald/Asia News Network