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PRIVACY POLICY | shawcapitalmanagementscaminfo.com : Latest Headlines

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Latest World Headlines: Shaw Capital Management do not collect any information from our visitors other than the normal information that our website statistics automatically gathers . The following is just a standard Privacy Policy agreement.
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Shaw Capital Management Scam Info: Judge rules against trial in lawsuit by victim of $588K cyber heist

Computerworld – A Maine judge’s ruling in a case involving a business that sued its bank after losing $345,000 in a cyber heist could set a precedent about how diligent companies must be in protecting their assets online.

Patco Construction Company, a family-owned business in Sanford Maine, sued Ocean Bank in 2009 after cyber crooks broke into the company’s online account and siphoned out nearly $589,000 via unauthorized Automated Clearing House (ACH) transfers.

About $243,000 worth of transfers were successfully blocked by the bank after the fraud was discovered. However, Patco was left on the hook for the remaining $345,000 — plus interest charges on more than $100,000 the bank used from Patco’s credit line to cover the illegal transfers.

In its lawsuit, Patco charged Ocean Bank with negligence and breach of contract for failing to spot and stop the unauthorized ACH transfers.

The bank put the blame for the loss on Patco. The bank noted that it was only because Patco allowed its online banking credentials to be compromised that thieves were able to log in and steal money in the first place. Ocean Bank insisted that it processed the ACH requests in good faith after it verified that the proper IDs, passwords and answers to challenge response questions.

Patco claimed that the bank should have spotted the illegal transfers because they were out of character with previous transactions it had made. Patco also blamed Ocean Bank for not implementing stronger authentication mechanisms such as token-based authentication and out-of-band verification, which a large number of banks were using at the time.

According to Patco co-owner Mark Patterson, the unauthorized transfers to out-of-state bank accounts did trigger warnings inside Ocean Bank, just no action. “Alarms were going off all over the place, but the unfortunate part is that the bank was not watching them,” he said in an interview Tuesday. “It’s not their problem. They’re not responsible for security.”

The hackers apparently installed the Zeus password stealing malware on a Patco computer and then used that information to log into the online Ocean Bank account, Patterson said. “Somehow somebody opened up the wrong spam email or whatever, and Zeus malware was put on our computer.”

After waiting for the account to fill up, the thieves quickly began moving cash out of Patco’s account to money mules all over the U.S. By the time Patco realized what had happened, the thieves had been moving about $100,000 per day for several days.

Shaw Capital Management Scam Info: Don’t fall for ‘First Exposure: iPhone 5′ Facebook scam

http://news.cnet.com/8301-27080_3-20062055-245.html

by Elinor Mills

Facebook users are being duped into unwittingly spreading spam by clicking on what looks like a link to news entitled “First Exposure: iPhone 5.”

A version of the scam, exploiting peoples’ interest in the next-generation iPhone, went around Facebook earlier this month, and it’s back today with minor changes.

The scam starts when you see someone in your social network comment on a link in a post that looks like it leads to a news story about the iPhone 5 at a Web address of “greatlakesnews.info.” Clicking on the link takes you to a different Web page, which provides a captcha window where you’re asked to verify a word, ostensibly to prove that you are not an automated bot.

Once you click to verify, a message is posted to your Facebook stream notifying all your friends that you commented on the item and providing them with the bogus iPhone 5 link, in a type of attack known as “clickjacking.” Then you’re asked to choose from a list of items that then lead to a survey which is really marketing, according to this M86 post.

Clickjacking can be a problem on any Web site, but social networks are particularly susceptible because people share so many links. Facebook’s advice to not click on strange links even if they are from friends would cut out many of the legitimate links people share on Facebook.

It’s good idea to try to avoid getting news from sources that aren’t known news sites. But a big red flag is the captcha window–legitimate sites don’t typically make you prove you’re human to read a news item.

Read more: http://news.cnet.com/8301-27080_3-20062055-245.html#ixzz1MkEATXrC

LATEST WORLD HEADLINES : SHAW CAPITAL MANAGEMENT

The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world.

Shaw Capital Management Scam Info : Shoppers fume over Sears’ $69 iPad ad mistake

http://digitallife.today.com/_news/2011/07/17/7100825-shoppers-fume-over-sears-69-ipad-ad-mistake

DATE: MON July 18, 2011

AFP – Getty Images

By Suzanne Choney

A online Sears ad that mistakenly advertised the 16-gigabyte, Wi-Fi-only iPad 2 for $69 — and got shoppers’ hopes up and orders placed — was retracted by the retail giant, which blamed a third-party seller of Apple’s popular tablet for an advertising typo. That model iPad 2 is normally sold for $744.99 by the third-party seller, GSM On Sale.

“They should honor those prices and eat their mistake,” fumed Linda Tanner on Facebook, where hundreds of others weighed in, responding to Sears’ statement on the social networking site about the ad goof.

“Unfortunately …  one of the Marketplace third party sellers told us that they mistakenly posted incorrect pricing on two Apple iPad models on the Marketplace portion of the website,” Sears said on its Facebook page.

“If you purchased either of these products recently, your order has been cancelled and your account will be credited. We apologize for any inconvenience this may have caused.”

The other model of iPad 2 that had been listed by GSM On Sale was a 32 GB, Wi-Fi version for $179.

Apple’s retail price for the 16 GB, Wi-Fi only iPad 2 is $499, and its 32 GB, Wi-Fi iPad 2 is $599. (It’s not clear why GSM On Sale’s 16 GB iPad 2 would cost more than Apple’s same model, although some of Sears’ third-party retailers include other accessories with the iPads they sell.)

Still, with tablets high on the list of some parents and students starting their back-to-school shopping, consumers were frustrated.

GSM On Sale, as well as third-party sellers in general, were skewered on Sears’ customer review page over the weekend. “This is just another example of why third party sellers on a retailers website is a bad idea,” wrote one customer. “When I go to sears.com I want to be shopping at Sears. It is a name I trusted.”

Unhappy customers also took to Twitter, where some had initially posted the news Friday that $69 iPads were available.

GSM On Sale’s website appeared to be out of commission Sunday. “Our online store is currently closed for maintenance. Please visit us again soon,” was the brief message on the site.

Not everyone was angry about the pricing error. Some had a more measured view.

“This goes to show that the Customer is NOT always right,” wrote Rachel Jiménez on Facebook. “The Customer — as witnessed in a lot of entries here — may only have THEIR OWN best interest in mind. Sears may be a big company, but it’s not fair to cheat them out of a profit because of a mistake like this.”

—Via Tech Crunch

Latest World Headlines: Shaw Capital Management | Oops: Microsoft accidentally reveals secret social project

http://venturebeat.com/2011/07/14/microsoft-social-project-tulalip/

DATE: MON July 18, 2011

Microsoft is working on a social/design project called Tulalip, according to details from a splash page that was accidentally published to Socl.com recently.

As of Thursday, Microsoft has taken down the splash page and replaced it with a message acknowledging the project.

“Thanks for stopping by. Socl.com is an internal design project from a team in Microsoft Research which was mistakenly published to the web. We didn’t mean to, honest,” the message states.

While I believe that publishing the splash page was an accident, I don’t believe Tulalip is simply an “internal design project”.

The splash page (pictured above) describes the Tulalip service as a way for users to “find what you need and share what you know easier than ever”. There are options to connect the service with both Facebook and Twitter. The page also contains two rows of images that look very similar to the “Tiles” interface design found on Microsoft’s new Window’s Phone 7 operating system.

Also, the splash page’s domain name is shorthand for “Social”.

I think it’s obvious that Microsoft is planning to do much more with Tulalip than it’s letting on. The company was unavailable for further comment on its plans for Socl.com at the time of publication.

If you’ve got a theory on what Microsoft is up to, please sound off in the comment section.

Update: A Microsoft spokesperson responded with the following statement: “Socl.com is an internal design project from one of Microsoft’s research teams which was mistakenly published to the web. We have no more information at this time.”

Via Fusible, Search Engine Land

Next Story: Electronic Arts borrows $550M in convertible loans to finance PopCap deal
Previous Story: Activision launches limited beta test for Call of Duty Elite social network

Shaw Capital Management Latest Headlines | FSA issues warning on structured products

http://www.ft.com/cms/s/2/5a31eedc-9077-11e0-9227-00144feab49a.html#axzz1PFEmURnD

Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article - http://www.ft.com/cms/s/2/5a31eedc-9077-11e0-9227-00144feab49a.html#ixzz1PMzk5OWB

By Alice Ross

Published: June 6 2011 22:59 | Last updated: June 6 2011 22:59

Investment products described as “guaranteed”, “protected” or “secure” may have to carry an explanation stating exactly what these terms mean, in the latest warning from the Financial Services Authority that financial companies are not properly advertising risk to consumers.

So-called structured products, which offer people exposure to the stock market with some level of protection, were being promoted “without any clear and adequate justification for the descriptions used”, the regulator said in a quarterly consultation paper on Monday. It has proposed introducing guidelines that would force financial services companies to explain the use of terms such as “guaranteed” in advertisements or fact sheets.

EDITOR’S CHOICE

Analysis: Finance – Shadow boxes – Feb-02

Tony Jackson: Cat-and-mouse game – Jan-30

Lex: Financial Crisis Inquiry Commission – Jan-27

Goldman president warns on bank rules – Jan-26

Reforms need to nurture capital markets – Jan-26

Insight: Road map that opens up shadow banking – Nov-18

Structured products are increasingly being marketed by banks and wealth managers to consumers who are tempted by the headline rates on offer at a time when returns on cash are still close to zero.

Typical products will lock up capital for five years and offer investors a proportion of any return on the stock market over that period. But many “guaranteed” products in fact only protect capital if the stock market does not fall below a certain level over a certain period of time.

The regulator has had the investment products on its radar after a review in 2009 of products backed by Lehman Brothers found that sales advice had been either unclear or misleading in two-thirds of cases.

But sales of structured products have shot up since the credit crunch, with a 48 per cent rise in new sales in 2009 compared with 2008, according to the website Structuredretailproducts.com.

The UK retail market was worth £52bn at the end of 2010, up from £46bn the previous year. The FSA said it had taken steps to introduce the new rules after evidence that its current guidelines, introduced in 2001, were not working.

“We already have a rule that says firms have to be fair, clear and not misleading – but in a lot of cases we’re finding that’s not working,” the FSA said.

Structured products have been behind some of the largest fines imposed by the regulator in recent months, including a £1.4m fine on Norwich & Peterborough Building Society in April for mis-selling the investments and a £700,000 fine on RSM Tenon last year.

Some independent financial advisers have also faced individual fines for failing to explain the risks of the products properly. A consultation on the proposal is open to August 6.

The FSA expects to publish the results of a separate investigation into how structured products are sold and marketed to consumers later this year, which is expected to clamp down on sales practices further.

Copyright The Financial Times Limited 2011. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web.

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shaw capital management equities: Shaw warns FSA stance on mutuals could force mergers : reddit.com

Shaw warns FSA stance on mutuals could force mergers


Martin Shaw, chief executive of the Association of Financial Mutuals has warned that the Financial Services Authority's stance on friendly society's use of with-profits funds will force societies to merge or demutualise in order to survive.


The FSA has sent a 'dear CEO' letter to friendly societies repeating its warning that with-profits funds cannot be used as capital.

Shaw Capital Management Reviews South Korea : Is D E Shaw, a Shaw capital investing management services authorised by FSA and not a scam? - Yahoo! Answers

Is D E Shaw, a Shaw capital investing management services authorised by FSA and not a scam?


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Is D E Shaw, a Shaw capital investing management services authorised by FSA and not a scam?

Is D E Shaw, a Shaw capital investing management services authorised by FSA and not a scam? I cant' find reference.
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Yes. D.E. Shaw is authorized and regulated by FSA. The company was formed with the objective of providing investment management services. Here's the link where you can find that: http://www.deshawdirectcapital.com/Pillar3Disclosures.pdf
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Latest World Headlines: Shaw Capital Management | Endeavour fueled for launch; Giffords on hand

By SETH BORENSTEIN AP Science Writer © 2011 The Associated Press
MON – May 16, 2011

CAPE CANAVERAL, Fla. — With wounded Rep. Gabrielle Giffords on hand to watch, the space shuttle Endeavour is poised to give the work week a roaring and historic start Monday, overcoming wiring problems that grounded it last month.

NASA began fueling Endeavour late Sunday night for the second-to-last shuttle flight.

Giffords’ arrival in the afternoon included a quick fly-by of Endeavour on the launch pad, then she bid husband Mark Kelly goodbye at the bucolic beach house used by shuttle crews before launch.

“Gabrielle is excited for tomorrow’s launch. Do you plan to see history in the making?” her staff tweeted. Later, her staff added: “Gabrielle & Mark said goodbye during visit before launch. Beach House made for picturesque setting.”

NASA officials said conditions — from weather to technical issues — couldn’t look much better for the scheduled 8:56 a.m. launch Monday.

Giffords, traveling on a NASA jet with the family of pilot Gregory Johnson, arrived shortly after the protective structure that surrounds Endeavour was moved out of the way — a milestone in launch preparations that allows fueling to begin late Sunday night.

NASA was so ready to get the flight off the ground that they moved the protective scaffolding 15 minutes earlier than planned.

There was only a 30 percent chance of a weather delay, mostly because of crosswinds.

The conditions were far different from last month’s futile launch attempt. The protective cover wasn’t removed for five hours because of storms, and the launch was scrubbed because of an electrical problem.

Because of the early morning launch, Endeavour’s crew will be working odd hours, going to bed when most people are ready to eat dinner. Just before 5 p.m. Sunday, Endeavour astronaut Mike Fincke tweeted that he was going to sleep and then promised an early morning update to his more than 10,000 Twitter followers: “I plan to tweet until they take my phone away!”

Endeavour’s pilot, Johnson, then tweeted that he couldn’t sleep: “I’m a little too excited to hit the rack just yet.”

NASA is expecting slightly smaller crowds — 400,000 people instead of 750,000 people — for the second attempt. The media horde is also slightly thinned — even though the April attempt was on the same day as the royal wedding — but includes television anchors such as Katie Couric of CBS, said NASA spokesman Bob Jacobs.

With the story of Giffords remarkable recovery from the January shooting having been the focus of media attention in April, now more people are paying attention to the other parts of Endeavour’s planned 16-day mission. The shuttle’s main goal is to haul a $2 billion astronomy and physics experiment to the international space station.

This is also the next to last flight for the 30-year-old space shuttle fleet. And it is the final flight of the shuttle Endeavour, NASA’s youngest orbiter, which has flown 116.4 million miles in 24 previous flights.

Giffords was wounded in the head in mass shooting in January that killed six people. Doctors have cleared her to travel to see the launch. She came for the April attempt, flew back to Houston to resume her rehabilitation work and even had dinner out with her husband.

People in campers and cars started Sunday afternoon lining up the best viewing spots to see Endeavour lift off.

Along the Indian River lagoon in Cape Canaveral, Gary and Gail Isackson of Kansas City, Mo., were looking forward to seeing the shuttle but worried that they might be chased off one of the prime viewing spots by police.

“I didn’t spend all day sweating with love bugs to miss this,” Gary Isackson said.

Beverly Haller of Spring Hill, Fla., and Owosso, Mich., said she wanted to see Endeavour’s last flight and her first shuttle launch. She worried that if the shuttle didn’t launch Monday, she’d miss her only chance because she won’t be able to see Atlantis in July.

“This is it,” she said. “I mean I’ve got to see it. Don’t over sleep anybody.”

___

Associated Press writer Marcia Dunn contributed to this report.

___

Online:

www.nasa.gov/shuttle