March 12th, 2010 
Before You Invest A senior Indian banker has been arrested by Indian police for an online fraud in which hackers siphoned close to 2.7 million Indian rupees (US$60,000) from a bank account, a senior police official of the Indian state of Tamil Nadu said on Wednesday.
Three other people were arrested previously in the case, S.
Posted in Finance Fraud 
Tags: Account Id, Assistant Vice President, Axis Bank, Businessman, Cybercrime Unit, Hackers, Indian Police, Indian Rupees, Internet Bank Account, Ip Address, Key Loggers, Nigeria, Online Fraud, Pcworld, Police Official, Sainath, Span Of Time, State Of Tamil Nadu, Tamil Nadu Police, Telephone Interview 
Comments Off March 12th, 2010 Before You Invest Online banking fraud surged by 14 percent in 2009, according to the UK Cards Association.
Research by the financial organisation revealed that the losses from online banking fraud totalled £59.7m in 2009. It said the increase was due to criminals using malware to target online banking customers rather than the banks’ own systems, which are more difficult to attack.
The research also revealed there was a 16 percent increase in the number of phishing incidents reported during 2009.
“Although online banking fraud losses have shown a year-on-year increase, card fraud remains a main focus of criminal activity,” said David Cooper, chairman of the Fraud Control Steering Group.
“However, the industry remains committed to containing and reducing all areas of fraud.
Posted in Finance Fraud Tags: Ann Skinner, Assistance Company, banking fraud, Blaney, Card Fraud, Card Purchases, Carrie Ann, David Cooper, Easy Target, Fraud Control, Fraud Losses, Fraud Prevention, Internet Activity, Life Assistance, Mastercard Securecode, Partnership Approach, Prevention Solutions, Prevx, Security Firm, Target Online Comments Off March 12th, 2010 Before You Invest 
Regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
from http://www.libertypointebank.com/
On Thursday, March 11, 2010, LibertyPointe Bank, New York, NY was closed by the New York State Banking Department.
Posted in Finance Fraud Tags: Advance Notice, Bank Failures, Business Checking Account, Certificates Of Deposit, Closing Information, Deposit Accounts, Deposit Insurance Corporation, Fdic Bank, Federal Deposit Insurance, Federal Deposit Insurance Corporation, Federal Deposit Insurance Corporation Fdic, Financial Institution, Loan Defaults, New York State Banking Department, Recession, Social Security Direct Deposit, State Banking Department, Valley National Bank, Wayne Nj, York State Banking Department Comments Off March 12th, 2010 Before You Invest (Crain’s) — Oprah Winfrey, hedge fund manger Kenneth Griffin and toy maker Ty Warner are among the 18 Illinois residents on Forbes magazine’s “World Billionaires.”
Posted in Finance Fraud Tags: Bill Gates, Carlos Slim, Citadel Investment Group, Citadel Investment Group Llc, Crain, Crown Family, Forbes Magazine, Founder Bill Gates, Hedge Fund, Illinois Residents, Kenneth Griffin, Lester Crown, Mr Gates, Mr Griffin, Ms Winfrey, Oprah Winfrey, Richest Man, Toy Maker, Ty Warner, World Billionaires Comments Off March 11th, 2010 Before You Invest Thursday, March 11, 2010 is the start of stock index futures roll-over at both CME Group and ICE Futures U.S.
Rollover is when a new contract month becomes the dominant contract in terms of new volume, for both pit (open outcry) and electronic trading sessions.
Posted in Finance Fraud Tags: Contracts, Day Traders, Electronic Platforms, Electronic Trading, Globex, Index Futures Trading, March 11, New Contract, Open Outcry, Pace, Position Traders, Stock Futures, Stock Index Futures, Stock Index Futures Trading, Stock Trading, Trading Futures, Trading Sessions, Trading Stock Comments Off March 11th, 2010 Before You Invest (Bloomberg) — The trade deficit in the U.S. unexpectedly narrowed in January as imports fell for the first time in five months, indicating demand is cooling following the fastest pace of growth in six years.
The gap shrank 6.6 percent to $37.3 billion from $39.9 billion in December as refineries imported the fewest barrels of crude oil in a decade, Commerce Department figures showed today in Washington.
Posted in Finance Fraud Tags: Autos Imports, Commerce Department, Consumer Spending, Crude Oil, Decreases, Economists, Five Months, Fourth Quarter, Gap, Gross Domestic Product, Inventories, Japanese Cars, March 1, Median Estimate, Nine Months, Oil Prices, Quarter Average, Refineries, Trade Deficit, Washington Exports Comments Off March 11th, 2010 Before You Invest The Chicago Board Options Exchange (CBOE) filed an application with the U.S. 
Posted in Finance Fraud Tags: Cboe Volatility Index, Chicago Board Of Trade, Chicago Board of Trade (CBOT), Chicago Board Options, Chicago Board Options Exchange, Chicago Board Options Exchange (CBOE), Demutualization, Demutualize, Exchange Traded Fund, Index Option, Initial Public Offering, International Stock Exchange, Market Volatility, New York Mercantile Exchange, Profit Basis, Securities And Exchange Commission, Securities Regulator, Time Chicago, Trade Members, York Mercantile Exchange Comments Off March 11th, 2010 Before You Invest
(Crain’s) — Federal banking regulators are seeking bidders for as many as seven troubled local banks, including Rockford-based Amcore Bank. Bids for Amcore are due April 15 to the Federal Deposit Insurance Corp., Crain’s has learned.
Posted in Finance Fraud Tags: Amcore Bank, Asset Bank, Bank Transaction, Bidders, Broadway Bank, Chicago Area, Corus Bank, Equity Groups, Fdic, Federal Deposit Insurance, Federal Deposit Insurance Corp, Investor Groups, Loan Losses, Local Bank, Northern Illinois, Private Equity, Real Estate Loans, Seizure, Senate Nominee, U S Senate Comments Off March 11th, 2010 Before You Invest Over the past few years, brokerage firms and banks have been issuing and marketing complex investments known in the industry as “structured products” to individual investors. These include “reverse convertibles,” which are popular in part because of the high yields they offer.
Also known as “revertible notes” or “reverse exchangeable securities”—and sold under a variety of proprietary names that may or may not use the term “structured” to describe the product—reverse convertibles are debt obligations of the issuer that are tied to the performance of an unrelated security or basket of securities.
Posted in Finance Fraud Tags: Assets, Banks, Bonds, Brokerage Firms, Debt Instrument, Debt Instruments, Debt Obligations, Elements, Financial Instruments, Fixed Income Products, Individual Investors, Inflation Risk, Investment Professionals, Investment Vehicles, Investments, Proprietary Names, Reverse Convertibles, Stocks, Structured Product, Structured Products Comments Off March 11th, 2010 Before You Invest 
Three money managers who called the turn in March 2009 see big gains ahead; a fourth dissents
Veteran money manager Laszlo Birinyi will never forget the moment a year ago when the last ounce of confidence disappeared.
Posted in Finance Fraud Tags: Barack Obama, Barton Biggs, Chief Investment Strategist, Corporate Earnings, Earnings Growth, Grantham Mayo Van Otterloo, Group Founder, Jeremy Grantham, Laszlo Birinyi, Leuthold Group, New York University, Next Presidential Election, Nouriel Roubini, Steve Leuthold, Stock Market Prediction, Stock Market Value, Subprime Mortgages, Term Investors, Traxis Partners, York University Professor Comments Off
