Donnerstag, 28. April 2011

Fisher Capital Management latest News: All They’re Cracked Up to Be

http://online.wsj.com/article/SB10001424052748704503104576251121705787208.html?mod=googlenews_wsj

By CHARLOTTE DRUCKMAN

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Tara Donne for The Wall Street Journal, Food Styling by Martha Bernabe
eggs
It’s easy to take eggs for granted. They’re always on the supermarket shelf when we need them, ready to do their part when a morning pancake craving or hangover-sandwich hankering hits. Thing is, just like allergies, asparagus and Paschal lambs, eggs have a season—and it starts in now. Birds are biologically wired to commence laying at the onset of spring and continue on until the dark days of winter, which means we’ve got nine months of intensely hued, rich-flavored yolks ahead of us.
According to Paul Dench-Layton, co-owner of Violet Hill Farm in Catskill National Park, N.Y., light and temperature trigger egg production from the feathered set. This ultra-satisfying protein stretches well beyond breakfast and, as any good cook knows, there are few flavors that don’t shine when paired with it.
Herewith, five of the country’s greatest culinary talents share their favorite justifications for getting egg on your face.
Slow-Cooked Eggs With Garden Herbs and Crème Fraîche

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Photographs by Tara Donne for The Wall Street Journal, Food Styling by Martha BernabeSlow-Cooked Eggs with Garden Herbs and Creme Frache
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At Shinn Farmhouse on Long Island’s North Fork, David Page cooks up a memorable breakfast daily; these creamy scrambled eggs are the highlight. Serves 4
12 large fresh eggs, beaten
4 tablespoons crème fraîche
2 tablespoons softened sweet butter
3 tablespoons chopped herbs such as chives, tarragon, basil and parsley
What to do:
1. Crack eggs into a mixing bowl and season with salt and pepper.
2. Whisk eggs and add crème fraîche.
3. Place the eggs over a double boiler of simmering water.
4. Whisk eggs vigorously, keeping them creamy. When they begin to set, remove them from the heat and add the butter and herbs. They should have the texture of cottage cheese.
5. Serve with buttered toast or a biscuit.
Variations: Fresh goat cheese can be added instead of crème fraîche; Also consider stirring pesto or roasted garlic in at the end.

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Photographs by Tara Donne for The Wall Street Journal, Food Styling by Martha BernabeSunshine Baked Eggs
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Sunshine Baked Eggs
As Jenn Louis of Portland, Ore., opens her second eatery, Sunshine Tavern, she introduces an easy, eggy meal with a pungent tomato presence and a porky garnish. Serves 6
½ small onion, finely diced
1 two-inch sprig of rosemary
1 sage leaf
2 bay leaves
2 garlic cloves, minced
1 pinch red chili flakes
1 quart whole peeled tomatoes, crushed by hand to leave chunky
1 tablespoon chopped Italian parsley
12 black oil-cured olives, pitted and cut into halves
12 large eggs
6 quarter-inch slices pancetta, seared in a pan
6 small gratin dishes
What to do:
1. Preheat oven to 375 degrees. Over medium heat, saute onion, rosemary, sage, bay leaves and garlic until onion is translucent and garlic is cooked through, but not brown. Add chili flakes and tomatoes and cook until sauce has reduced to medium thickness. Sauce should not be pasty, dry or watery. Season with parsley and add salt and black pepper to taste.
2. Place ¼ cup of tomatoes in bottom of each gratin dish and sprinkle 4 black olive halves over each. Crack 2 eggs per dish on top of tomatoes. Season with salt and black pepper. Bake for about 6 minutes in oven, covered with aluminum foil, or until egg whites are barely cooked through.
3. Remove from oven, top with warm pancetta and serve.
Variation: If you’d rather skip the pork, or want to try a Provençal spin, switch out the pancetta and put two anchovy slivers on top of each portion.
Korean Rice Salad With a Fried Egg
[eggs5]Photographs by Tara Donne for The Wall Street Journal, Food Styling by Martha BernabeKorean Rice Salad with a Fried Egg
A staple on the menu at Susan Feniger’s Street in Los Angeles, this dish features a fried egg atop a Korean rice salad that’s full of surprising nutty flavors and crunchy textures. Serves 4
2 cups shiitake mushrooms
1½ tablespoons olive oil
2 cups shredded lettuce
1 cup firm tofu, diced
1 cup pickled daikon, julienned (available at edenfoods.com)
1 cup carrot, julienned
1 cup soybean or mung bean sprouts
1 cup dried nori seaweed, cut into ¼-inch-wide strips, soaked and rinsed
8 tablespoons sunflower seeds
2 cups brown rice, steamed
¾ cup (12 tablespoons) sesame dressing (see recipe below)
4 eggs
What to do:
1. Preheat oven to 400 degrees.
2. Sprinkle mushrooms with olive oil, salt and pepper and roast for 10 minutes. When they’re cool, chop them very thin.
3. Place a small pile of shredded lettuce in the bottom of each person’s bowl.
4. Make sesame dressing (recipe below).
5. In a large bowl, toss the mushrooms, tofu, daikon, carrot, sprouts, seaweed, sunflower seeds and rice in the dressing.
6. Heat a frying pan and fry the eggs.
7. Place the dressed rice mixture on the shredded lettuce in each bowl. As soon as the eggs are ready, remove them from the pan and put one atop each individual salad.
Sesame Dressing
1/3 cup lemon juice
1 ounce (approx. 2½ tablespoons) minced ginger
1/8 cup fish sauce
¼ cup rice-wine vinegar
½ cup light-sodium soy sauce
2 tablespoons spicy sesame oil
1 cup regular sesame oil
4 tablespoons Absinthe (or substitute Pernod)
Mix all ingredients.

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Photographs by Tara Donne for The Wall Street Journal, Food Styling by Martha BernabeRed Wine Poached Eggs
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Red-Wine Poached Eggs
At The Publican in Chicago, chef Brian Huston poaches eggs not in the usual solution of water and vinegar, but in red wine. A drizzling of Hollandaise sauce goes on top for the win. Serves 4
4 eggs poached in red wine for 3 to 4 minutes, or until the yolk sets
4 large handfuls of fresh bitter greens (arugula, dandelion greens, mizuna or chickory)
8 slices of prosciutto
Hollandaise (recipe below)
Hollandaise Sauce
1 stick unsalted butter
2 tablespoons cider vinegar
2 tablespoons white-wine vinegar
1 shallot, diced
1 sprig tarragon
3 eggs
What to do:
To make Hollandaise sauce, melt butter, cool and set aside. In a small sauce pan, simmer vinegars, shallot and tarragon until liquid is reduced by half. Strain liquid and reserve. Crack eggs into blender, add strained vinegar and mix. Slowly pour in melted butter while whirring. Season with salt and pepper.
To serve: Pile a generous handful of bitter greens on the plate, and rest a poached egg atop the leafy pile. Lay two slices of prosciutto over the egg and spoon generous amount of Hollandaise over the whole.
Early-Spring Vegetable Charlotte with Coddled Egg and Camembert
[eggs5]Early-Spring Vegetable Charlotte with Coddled Egg and Camembert
Pete List, the chef at Denver, Colo.’s Beatrice and Woodlsey, coddles both eggs and lucky diners with this savory, cheese-filled take on a bread-based French dessert. Serves 4
2 medium roasted red peppers (see directions below, or buy the prepared version)
5/6 cups extra virgin olive oil
½ lb. red or Swiss chard, washed and stemmed
2 fresh zucchini
2 young onions with scallion-like tops in tact (or substitute 2 small, sweet onions like Mauis or Vidalias)
4 ripe heirloom tomatoes
1/4 cup crushed garlic (approximately 6-8 cloves)
1/3 cup extra virgin olive oil
¼ teaspoon salt
¼ teaspoon pepper
1 tablespoon sherry vinegar
1 loaf artisan bread sliced thinly (focaccia or ciabatta are preferable)
¼ cup olive oil
4 ounces (¼ lb.) Camembert cheese (or substitute any bloomy rind cheese, such as brie), cut into four slices
12 thin slices of Parma ham (approximately ¼ lb.)
4 large farm fresh chicken eggs
4 fresh basil leaves
What to do:
Make the vegetable filling:
1. Preheat oven to broil.
2. Toss peppers in ¼ cup of olive oil. Place on a cookie sheet and put under the broiler until the skin is blackened and blistering. Place peppers in a bowl, cover with plastic wrap and let steam to loosen the skin. After 10 minutes, uncover bowl and let peppers cool. Peel skin off the peppers and remove the seeds and stem. Slice peppers into 1-inch-wide strips.
3. Place roasted peppers in mixing bowl.
4. Prepare chard: Bring a pot of salted water to a boil while you wash the vegetable’s leaves in cold water to get rid of any sand or grit. Remove stems. Submerge chard in the boiling water for one minute until leaves wilt. Transfer to a bowl of ice water. Once they’re cold, remove and pat dry with a paper towel. Tear the leaves into smaller pieces and add them to the mixing bowl with the roasted peppers.
5. Preheat oven to 400 degrees.
6. Slice zucchini into rounds about ¼-inch thick and place in the mixing bowl with the other vegetables. Do the same for the onions and tomatoes.
7. Crush each garlic clove with the flat edge of your knife and add to the bowl.
8. Add 1/3 cup olive oil, salt and pepper to vegetables. Toss until coated evenly. Place vegetables on a baking sheet or medium-sized roasting pan. Stirring every few minutes to ensure even cooking, roast for 35-40 minutes, or until lightly brown. Remove vegetables from the oven and let cool to room temperature. Place cooled vegetables on a cutting board and rough chop to ¼-inch (or smaller) pieces. Return to mixing bowl and add sherry vinegar. Finally, add salt or pepper as needed and set aside.
To build the charlottes:
9. Preheat oven to 350 degrees.
10. Slice bread about 1/8-inch-thick. For best results use one long slice that will fit all the way around the inner wall of the ramekin; for the bottom, if you can’t cut one circular round, two semi-circular pieces are fine—they should overlap a little. The entire interior of the ramekin should now be covered. Measure the depth and width of the ramekins and trim the bread to fit. Finally, cut one circular piece to fit over the top of the ramekin.
11. Brush the bread with enough olive oil to soften and make pliable (1/4 cup of olive oil should be plenty). Line the inside of the ramekins with the trimmed, moistened pieces of bread; do the sides first, then the bottoms.
12. Fill each ramekin halfway with roasted vegetable mix, add a slice of cheese to each, then fill with the rest of the vegetables. Line the top with circular piece of bread, cover each ramekin with foil and bake for 20 minutes, or until the bread is toasted and the vegetables are hot.
13. When the ramekins go in the oven, coddle the eggs thusly: Place the eggs in makeshift stands fashioned from their respective carton slots in the bottom of a pan or pot that is deep enough to hold water to cover the eggs by 1 inch or so. In a separate pot, boil enough water to cover the eggs and. Once it’s boiling, gently pour it over eggs. Let eggs sit in the water for 22 minutes for large eggs; extra large may take a couple minutes longer. Remove eggs from the water and let rest for 2-3 minutes to cool slightly.
14. Remove ramekins from the oven and let rest a few minutes.
15. To serve, remove each charlotte from the ramekin by turning it upside down onto serving plate (loosen the edges around the side of the container with a knife if necessary). On top of each charlotte, arrange two slices of Parma ham, gently crack the tops of the eggs with a spoon, pull the shell off the top to make a large hole and pour one gently on top of the ham. Wrap the ham around the egg, drizzle whole with olive oil and garnish with a fresh basil leaf.

Fisher Capital Management Latest News: Zener Heim: Dreams of an Energy Zero House Come True

Wednesday, April 13th, 2011
A real life example, the “Zener Heim,” meaning “zero energy” in German, has been built in the city of Hwaseong, Gyeonggi Province.
Zener HeimZener Heim exterior
Located among the townhouses and apartments of Bansong-dong, Zener Heim uses solar, wind and geothermal energy, and minimizes energy waste, allowing visitors a first-hand look at an energy-efficient home.
The two-storey house, which opened in August 2010, has three bedrooms, two bathrooms, living room, kitchen and roof garden. Also, unlike most other energy efficient houses in Korea which were built primarily as show homes, Zener Heim was designed for real-life use, and includes 70 environment-friendly technologies developed by Daewoo Engineering and Construction.
“Many people who visit here actually like this house very much and say it is more comfortable than they expected,” said Lee Ji-yun of Zener Heim Housing Management. Those who are interested in visiting the house can apply through its homepage (Zener Heim) (Korean only).
Many aspects of the home have been designed to both save energy and provide an extra layer of convenience. For example, the taps in the kitchen use solar power to pump water, and are activated by touching a switch at the bottom of the sink.
The veranda on the second floor serves as a roof garden and offers a nice view. The added insulation from the garden helps raise the indoor temperature up to two degrees in winter. Special construction methods kept the weight of the roof garden and the rest of the house down, making the whole home lightweight.
Despite the strong winter chill earlier this year, Zener Heim used little energy for heating, according to Lee, who used statistical data as proof. The house uses both “passive” and “active” technologies to reduce energy consumption and produce renewable energy.
Passive technologies prevent the house from wasting energy. Daewoo Construction used low-emission glass for all the windows in the house, which also provides high levels of insulation and privacy thanks to a special film. To prevent energy waste, aerogel was used to cover the outer wall of the house. The ventilation system also helps people use less energy for heating and cooling by allowing ventilation only when and where it is needed.
Active technologies, including solar, geothermal and wind power energy production, were also used in Zener Heim. Hybrid lights in the garden shine at night from solar and wind power collected during the day. Solar panels installed on the roof provide electricity and hot water. “The temperature of the hot water is around 43 degrees and the boiler is operated only when needed,” said Lee. Geothermal energy also helps maintain the temperature inside the house year-round through 100 meters of heating pipes in the floors.
Zener Heim produces 624 kilowatts of energy per hour and saves 230 kilowatts a month. Compared with a normal house, which uses 700 kilowatts per hour, it saves more than 150 kilowatts of energy every month.
Daewoo plans to apply many of the technologies it used in building Zener Heim to its apartment complexes in the next few years. The dream of zero energy houses may well come true for Koreans in the coming years, bringing about a greener and more sustainable housing market.

Fisher Capital Management Latest News: SFO looks into scam that fooled North Korea

 Sven-Goran Eriksson
Former England manager, Sven Göran-Eriksson, who joined Notts County as director of football, was a victim of the elaborate scam. Photograph Darren Staples/Reuters
The Serious Fraud Office is looking into an elaborate scam that took in the former England football manager Sven Göran-Eriksson, former spymaster Sir John Walker and the North Korean government.
Investigators are also looking at how the same fraudster took control of almost half of a London investment bank without paying for the shares.
First London plc – the investment bank whose shares were listed on the Plus stock exchange and whose advisers included Tim Yeo MP and Air Marshal Sir John Walker, a former head of defence intelligence – subsequently went into administration with debts of £8.7m.
BBC Panorama has discovered that Russell King, a convicted fraudster, took control of 49% of First London by claiming he was managing billions of dollars for the Bahraini royal family. The case has been referred to the SFO – which only looks at the country’s highest value frauds – by the Financial Services Authority.
An FSA spokesman said: “In this case the acquisition of control occurred without the FSA having been given the prior notice which the law requires it to be given. Had it been given proper notice it would have been in a position to consider whether it should use its powers to object to and prohibit the change of control. The FSA subsequently identified a number of concerns and pursued a series of leads into what was an extremely complex corporate structure. It would be inappropriate for us to comment further at this time due to confidentiality issues.”
The Panorama programme will show how King then used the name of the bank and its high-profile advisers to give credibility to deals.
They included an attempt to obtain funding for a new company that claimed to have assets worth $2tn and the short-lived takeover of the Football League’s oldest club. In 2009, King was behind a controversial takeover of Notts County which promised to bring millions of pounds of investment from the Middle East. The investment, which appeared to have been guaranteed by First London, never materialised and the club was left £7m in the red – but not before Eriksson agreed to join County as director of football. Nottingham police are investigating.
The coach’s contract included a clause entitling him to €11m of shares in a little-known company called Swiss Commodity Holding, which had been set up a few months earlier and was claiming to have assets worth $2tn from the exclusive rights to North Korea’s gold, coal and iron ore.
King persuaded the former England manager to visit the rogue state as part of an SCH delegation and Eriksson was present at a meeting with the North Korean leadership. “I was in the palace and they were handing over to the North Korean government so-called shares,” he tells the programme. “I asked them how much and what they told me was not millions, it was billions of dollars. They used my name. Of course they did. At the end it became a big, big mistake.”
Panorama’s investigation shows that King was secretly running SCH, which was considering a public listing.
Documents detailing SCH’s claims were prepared by First London plc. The investment bank also sent Walker, who sat on the bank’s advisory board, to check out King and his associates. The air marshal tells the programme: “What do I think of Russell King? Not a lot. He was good at chat, but that was his business. He was a con man. I was taken the same way Sven was taken. They just wanted names.”
King had gained control over First London plc shares after convincing the bank that he was managing billions of dollars of Bahraini cash by introducing some of its executives to senior members of the royal family. But Fawaz Al Khalifa, president of the Bahraini Information Affairs Authority, says King was lying about his royal connections: “He might have met members of the family here or there, but we have no financial connection to him or his company.”
King, who was jailed for insurance fraud in 1991, denies running Notts County, SCH or First London plc.
However, the programme has obtained dozens of emails and testimonies showing he was secretly pulling the strings, including some where he refers to himself as Lord Voldemort, the character from the Harry Potter books who can never be named.
First London plc’s parent company, First London Group plc, is still in business. In a statement, its lawyers said the failure to notify the FSA about the change in ownership was a mistake: “This was simply an error and not done for any ulterior or questionable motive. As far as our client is aware the FSA were satisfied that the information provided was in compliance with all legal and regulatory requirements. Our client is unaware of any investigation by the FSA or SFO into its activities so far as they relate to or involve Russell King.”

Fisher Capital Management Latest News: Regulator to expand supervision of credit card firms

2011/04/24 16:04 KST
SEOUL, April 24 (Yonhap) — South Korea’s financial regulator said Sunday it is gearing up to tighten its supervision of credit card companies on mounting worries that their easy loans may lead to a massive default crisis.
The Financial Supervisory Service (FSS) plans to set up a new division tasked with supervising and inspecting credit card companies in its looming reshuffle and will almost double the workforce for that task, the regulator said.
The decision comes as part of the regulator’s expansion of inspection forces aimed at preempting a rise in credit card firms’ risky loans issued mostly to borrowers with low creditworthiness.
Rising card loans and cash advances issued by credit card companies, which are mounting a heated competition to outgrow each other, are cited by many policymakers and experts as a major economic risk that can result in massive growth in household debts and loan delinquencies.
“The FSS will preemptively respond to prevent further expansion of credit card firms’ small-amount credit loans,” an FSS official said.
Loans issued through credit cards jumped 19 percent last year, far outperforming the entire financial sector, whose lending grew an average of 6.3 percent, the official said.
The efforts to clamp down on excessive credit card loans came as the sector jumps into an asset-growth race with top banking group KB Financial Group Inc. and Hana Financial Group Inc. recently floating new credit card affiliates to join the competition.
The total assets of local credit card firms reached 55 trillion won (US$50.9 billion) as of the end of 2010, the highest reading since 68 trillion won recorded at the end of 2002, when massive loan defaults at credit card firms resulted in a series of credit card company bankruptcies.

Dienstag, 26. April 2011

Fisher Capital Management Scam Prevention News: S Korea,China Bust Phone Scam Ring Targeting S Korea

http://www.bernama.com/bernama/v5/newsworld.php?id=581379
April 24, 2011 12:40 PM
SEOUL, April 24 (Bernama) — Chinese prosecutors have arrested 23 suspects over phone fraud on South Koreans, Seoul’s prosecutors said Sunday, the first bust on a scam ring after the two neighbouring countries agreed to thwart voice phishing scams that have caused huge financial damage in South Korea in recent years.
Voice phishing involves random phone calls to dupe victims to siphon their bank accounts, Yonhap News Agency reported.
Callers, growingly traced to networks in China, masquerade as police or bank officials, or sometimes demand ransom claiming they are holding a family member hostage.
The damage from phone fraud has reached over 200 billion won (US$185 million) over the last three years, according to South Korean prosecution data.
More than 1,500 suspects of the scams are believed to have fled to China during the past five years.
A Chinese ringleader and 22 other scammers allegedly swindled several billion won from South Koreans by impersonating officials of financial institutions and fooling them into depositing their money at certain bank accounts.
The Chinese prosecutors are also chasing other members of the busted phone scam ring that allegedly has about 100 members, according to Seoul’s prosecutors.
The bust came three months after South Korean Prosecutor General Kim Joon-gyu and Meng Jianzu, China’s public security minister, agreed to cooperate in rooting out voice phishing scams.
South Korean prosecutors said they can soon extradite 15 separate suspects from China over similar scams that caused some 150 billion won ($138 million) in damages from 20,000 victims. The prosecutors did not give any specific time frame.
– BERNAMA
We provide (subscription-based)
news coverage in our Newswire service.

Dienstag, 19. April 2011

Fisher Capital Management Scam Prevention News: Cyber criminals target owners of smartphones

http://www.independent.co.uk/money/spend-save/cyber-criminals-target-owners-of-smartphones-2268877.html
More people are sending sensitive information through their phones, making fraud easier. Paul Bicknell reports
Sunday, 17 April 2011
Unsocial Networks: Fraudsters are using sites such as Facebook to lure victims KAREN BLEIER / AFP Unsocial Networks: Fraudsters are using sites such as Facebook to lure victims
Smartphones and social networking coupled with illicit money transfer are making it easy for fraudsters to exploit members of the public. Figures released last week point to a growing £400m-a-year problem as naive and vulnerable individuals are being lured into cyber crime involving money transfers.

These losses make up 10 per cent of last year’s overall British fraud figure of £4bn. This covers losses to consumers targeted using social networking sites such as MySpace, Facebook and Twitter. It includes mass-marketing fraud such as online ticketing and rental as well as advanced fee frauds.
“As social networks grow in popularity, there is a risk that they become increasingly targeted for fraudulent activities,” says Toby Jones, a spokesman for MySpace.
In broad terms, fraud has increased by 25 per cent over the past five years, according to the not-for-profit organisation Cifas. In 2010, 217,385 frauds were reported to the National Fraud Database by Cifas members.
In online banking, fraud increased 14 per cent, or £60m, last year, according to the National Fraud Authority.
The Office of Fair Trading has revealed that 39 per cent of people losing money to a scam in the past year did so through advance fees or money transfer, with 7 per cent losing more than £4,000. The consumer direct division of the regulator said this topped the list of complaints about scams and it receives more than 1,000 complaints about them each year. Further down the list are prize draws and sweepstakes, ticketing and foreign lotteries.
Money transfer operators such as Western Union, Money Gram and Hifx became regulated by the Financial Services Authority in November 2009 and since then consumers have been able to complain about them to the Financial Ombudsman Service (FOS). They are a valued service used by a growing economic migrant population, more than 35,000 of whom travel from outside the EU and are given visas to work in the UK each year, according to the Home Office. Many of these workers do not have bank accounts and problems can arise with money not reaching the specified destination or the incorrect exchange rate being applied.
Complaints about money transfer operators have remained low against the background of banks and building societies. The FOS received 508 complaints about transfers carried out between banks or building societies in 2010 and 635 in 2009. It is currently upholding 43 per cent of these complaints. “During the 2010 calendar year, about 60 complaints were referred to us. This was up from 10 complaints received in 2009 – although obviously we were only able to look at complaints that arose after November 2009,” says FOS spokeswoman Emma Parker. “We upheld in favour of consumers around 47 per cent of these complaints in 2010.”
Overseas workers are statistically less likely to complain when something goes wrong financially, while, anecdotally, unregulated back-street money transfers exist. John Bownas, a spokesman for Croydon Council, says its trading standards division had stopped £100,000 worth of dodgy money-transfer activity in the past year alone. “That is fairly typical and we would advise our residents to get in touch with us as quickly as possible if they feel they have been a victim of fraud,” he says. “The first port of call for most people should be Consumer Direct, which will pass you to the correct authority for your area.”
It is a problem that is likely to grow. Companies such as Nokia are offering mobile transfers to a much wider array of destinations. Earlier this month, the handset maker rolled out a new service with Bank of India, where more than 800 million people have a mobile but more than half the 1.2 billion population do not have a bank account. Even in Britain it is fast becoming commonplace to shop, pay utility bills and top up prepaid cards using only a mobile phone.
New research from credit reference agency Equifax has shown nearly 70 per cent of smartphone users aged between 22 and 25 do not use passwords on their phones, and two-thirds of this age group use their phones regularly to access online banking. In addition, more than half of second-hand phones hold sensitive personal information which could become linked with fraud. In an experiment carried out last month by ID theft insurer CPP, 247 pieces of personal data including debit card PINs and bank account details had been left on second-hand smartphones they bought.
Janet Davis, 52, from London, sent £850 via Western Union money transfer to enter a competition to win £70,000 she thought was organised by the Royal National Institute for the Deaf. However, it was a scam; the Facebook message claiming to be from the charity was a fake. But worse was to follow for Ms Davis when the fraudsters using information she divulged hacked into her Facebook account.
“I started to get texts from friends – I had about 30 in just one day,” she says. “They’d all had messages from someone who must have hacked my Facebook account. Whoever was pretending to be me was trying to persuade even more people to give them money. I sent out a message to tell people to block me and I set up a new account, but I haven’t been able to bring myself to use it again just yet.” Ms Davis also had two people impersonating FedEx employees call at her house to ask for more money to cover what they described as “tax and insurance”.
Protect Yourself
Beware of suspicious links. If you think you’ve clicked on a link and have been taken to another site, be careful about what you click on. Social networking sites cannot protect against malicious content and urge users to report the link. If the website looks like a major web service but you think it might be fake, type the URL of the real website in the address bar to check.
Keep your computer’s software up to date. Visit your browser’s site to check the version you are using is the latest one. Make sure you have security software that includes anti-virus, anti-spyware and anti-phishing protection and a firewall. Set your operating system to update automatically.
Use different passwords for your different online accounts, and keep them secret. If you use the same password everywhere, you could lose access to all of your accounts at once if one of your accounts is compromised. Think of a complex password. Avoid common words, and make sure your password is at least eight characters long and includes capital and lower case letters, numbers, and symbols.
Be careful when using an unsecured public wireless network. Unless a Wi-Fi network is secure, you may want to avoid transmitting sensitive information. If you’re using Facebook in a free Wi-Fi zone, consider using its high-security, https-encrypted connection. This is in your account settings area.

Fisher Capital Management Scam Prevention News: Exploring a Stock Investing Secret

http://www.thestreet.com/story/11081285/1/exploring-a-stock-investing-secret.html
By Steve Alexander04/13/11 – 10:45 AM EDT
NEW YORK (MagicDiligence.com) — In recent weeks, Joel Greenblatt, the father of Magic Formula Investing (MFI), has been promoting his new stock investing book, The Big Secret for the Small Investor.
Because the book was published only Tuesday, we’re still reading it and should publish a full review as early as next week.
From Greenblatt’s interview with Morningstar, however, we already have a pretty good idea of what the book is about and what the motivation is behind it.
The “big secret” is value-weighted indexing.
Most indices, like the S&P 500 and Russell 3000, are weighted by market cap. That means that for every dollar you invest in them, the largest-cap stocks get more pennies then the smaller-cap stocks.
For example, if you invest $100 in a S&P 500 index fund (SPDR S&P 500 ETF(SPY_) is a popular one), about $3.48 is invested in ExxonMobil(XOM_), the largest-cap stock in the index, while about $2.52 is invested in Apple(AAPL_), the second largest, and so on.
Greenblatt believes that weighting the indices by value parameters, such as the operating earnings yield and return on tangible capital used by MFI, produces better stock investingresults.
In the Morningstar interview, he says that market-cap weighting removes about 2% of annual returns as opposed to equal weighting (where money is spread evenly among all stocks in an index).
A quick Google search will net you dozens of studies corroborating that fact, and it makes intuitive sense as well: Very large-cap stocks have more limited growth avenues and are more appropriately priced in general.
But the real upside is by placing bigger bets on firms in the index that rank higher by value parameters. Greenblatt contends that this adds 4%-6% of return a year over market-cap weighting over the long term. Furthermore, back-testing shows that this method is not any riskier or volatile than a market cap weighted solution.
To implement this system for investors, Greenblatt and his partners at Formula Investing have created “managed indexed” mutual funds. The U.S.-based ones use a universe of the 1,400 largest U.S.-listed stocks. Formula Investing U.S. Value A (FVVAX) chooses 800 to 1,000 of these, and the Formula Investing U.S. Value Select A (FNSAX) selects 75 to 120 of them. Both funds base their selections using MFI parameters and rebalance themselves frequently. There are also international variants of these two funds, choosing stocks in 26 countries outside of the U.S.

Fisher Capital Management Scam Prevention News: Couple of clowns duped in super scam muddy waters for true victims

http://www.smh.com.au/opinion/couple-of-clowns-duped-in-super-scam-muddy-waters-for-true-victims-20110415-1dhof.html
April 16, 2011
The clowns came out to play when the federal government shelled out $55 million in compensation for certain investors in Trio Capital.
The clowns include the former Wollongong financial planner Ross Tarrant, on the front page of a rival newspaper this week moaning about how DIY super investors should be paid compensation.
And that bloke Peter Johnston, the head of the Association of Independently Owned Financial Planners, was out there whingeing about the same thing.
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Really, who are these jokers? How anyone could quote them with a straight face is beyond me. They have zero credibility on the issue of Trio Capital. The fact they are presenting themselves as part of the solution is staggering; they were part of the problem. Worse, they are muddying the waters for DIY super investors who have what appear to be genuine claims for compensation.
A quick recap: Trio Capital, a fund manager in Albury, was seized by regulators in December 2009. It has now been revealed to have been operating a big fraud in two particular hedge funds it managed: Astarra Strategic and ARP Growth.
On Wednesday the Assistant Treasurer, Bill Shorten, said government compensation would cover 5000 members of super funds overseen by the Australian Prudential Regulation Authority with money in Astarra Strategic. All up, they will be paid $55 million.
But 295 self-managed super fund investors in Astarra Strategic and 70 investors in ARP Growth were essentially told to nick off. Collectively, along with some direct investors who are not being compensated, these investors lost up to $120 million.
Now, this should be a big warning bell for the self-managed super investors that account for $420 billion in Australia’s booming $1.3 trillion superannuation industry.
It’s a bell these pages have been ringing for a while. As we wrote here last April, people being ushered into DIY super should receive documents with large red letters on the front reading: ”You could lose the lot.”
My position is not a Ross Tarrant-style pitch for broad-based compensation for DIY super fund investors. For example, I wouldn’t include him in any compensation scheme.
Additionally, there are good reasons for the government’s current position to let people in DIY super look after themselves. The current setting, as played out in Trio Capital, is that government compensation looks after mainstream investors in funds regulated by the Australian Prudential Regulation Authority.
I am alive to arguments of moral hazard that a broad-based compensation scheme for DIY super could create. I am also alive to the ridiculous situation of bailing out a DIY super husband in a case against a DIY super wife.
The reason I am sympathetic to the Astarra Strategic and ARP Growth DIY super investors is they found themselves in a managed investment scheme where a fraud was perpetrated. They entered those schemes on the advice of a trusted adviser. That trusted adviser failed them, often with a flurry of associated fees.
So, when Shorten considers the merits of broadly based compensation for investors, I believe there are grounds for a limited compensation scheme for DIY super investors.
At the same time, many problems will be addressed by forthcoming financial advice reforms that remove conflicted remuneration received by planners.
That brings me neatly back to Ross Tarrant. His business, Tarrants, received $840,000 from Trio Capital in commissions termed a ”marketing allowance”. That same “marketing allowance” was paid as about 200 Tarrants clients set up DIY super funds that invested $20 million in Astarra Strategic.
And Tarrant reckons he deserves compensation? It is beyond audacious.
Then there’s Peter Johnston. Johnston’s members in the association, including Tarrants, Dominion and Seagrims, were wildly overrepresented in the fallout of Trio Capital.
Johnston is the clown who squired around Shawn Richard – also known as Shawny Cash – proclaiming his innocence early last year. Shawny ended up being the front man for the Hong Kong mastermind of the scam, and now faces a lengthy jail term.
I am uncomfortable about the large number of association members who found themselves investing money in the Trio Capital scam. I am uncomfortable about the credulousness of the association’s leader.
Shorten’s reforms promise to make it more difficult for Trio Capital to happen again, and keep some of the clowns at bay. But there should also be consideration of compensation for DIY super investors sucked in by the clowns.

Fisher Capital Management Scam Prevention News: Card skim scams steal $170m

http://www.news.com.au/money/money-matters/card-skim-scams-steal-170m/story-e6frfmd9-1226039500227
  • By Janet Fife-Yeomans

  • From: The Daily Telegraph

  • April 15, 2011 12:00AM

  • Credit card
    Australia has recently been targeted by skimmers from Romania, Southeast Asia and Sri Lanka
    CREDIT and debit card fraud has tripled in just three years, with Australian consumers ripped off more than 657,000 times last year at a cost of $170 million.
    The multi-million-dollar profits have attracted organised crime, with Australia recently targeted by crime groups from Romania, Southeast Asia and Sri Lanka.
    These gangs are involved in large-scale card skimming, the Australian Crime Commission revealed in a report released today.
    Organised crime groups have also moved into superannuation fraud, using stolen identities to access savings or unclaimed superannuation funds.
    “Evidence has emerged of groups targeting superannuation holdings,” the report said.
    One early-release scheme involving 121 clients netted crooked fund managers more than $685,000, which was moved out of Australia through low-value international funds transfers to the Philippines and Pacific Island nations.

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    The ACC warned that identity theft involving organised crime now posed a “critical” risk.
    Last year there were 593,819 fraudulent credit card transactions worth $145,854,208, compared with 241,063 fraudulent transactions totalling $85,215,615 in 2006.
    Debit card fraud last year totalled $24,471,348 from 63,894 fraudulent transactions.
    When new chip and PIN technology becomes compulsory in Australia in 2013, so-called “card not present” fraud, when the card is used online or via the mail, is likely to explode.
    The ACC warned that card skimming was now one of the main types of identity theft, with online fraud becoming the new front line in organised crime.
    Details on a card skimmed in Australia can be sent immediately to another country to be used illegally, and the ACC said it had “intelligence” on large-scale identity fraud factories producing dodgy documents to order.
    There have been no significant arrests to date.
    The ACC said the popularity of wi-fi would make it easier to steal personal data, while high-speed broadband would make tracking criminal activity more difficult.
    And Australians were still falling for the old Nigerian scams, with many individuals and companies being tricked out of “hundreds of millions of dollars each year” by paying upfront fees or providing their banking details for promised windfalls they never receive.
    Fraudsters have also moved into chat rooms, dating and auction websites, social and business networking sites and internet gaming, the ACC said.

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

    http://www.liverpooldailypost.co.uk/liverpool-news/regional-news/2011/03/31/chester-based-gb-group-s-software-praised-for-fraud-prevention-92534-28435807/
  • 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.”
    Read More http://www.liverpooldailypost.co.uk/liverpool-news/regional-news/2011/03/31/chester-based-gb-group-s-software-praised-for-fraud-prevention-92534-28435807/#ixzz1JOGIp0Ac