What is Pharming?
Pharming (pronounced “farming”) is another form of online fraud, very similar to its cousin phishing. Pharmers rely upon the same bogus Web sites and theft of confidential information to perpetrate online scams, but are more difficult to detect in many ways because they are not reliant upon the victim accepting a “bait” message. Instead of relying completely on users clicking on an enticing link in fake email messages, pharming instead re-directs victims to the bogus Web site even if they type the right Web address of their bank or other online service into their Web browser.
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Cybercrimes, Internet Fraud Online Web Scams, Cyber Crime Consumer Fraud, Internet Crime, Website Spoofing Phishing Scams ~ Link
November 16, 2011
Company, National Equities Holdings, Inc. with $1.4 Million Commodity Pool Fraud
CFTC Charges California Residents Robert Cannone, Thomas Breen, and Francis Franco and Their Company, National Equities Holdings, Inc. with $1.4 Million Commodity Pool Fraud
The defendants charged with fraudulent solicitation, misappropriation of customer funds, and false statements
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a complaint in federal court in Santa Ana, Calif., charging defendants Robert J. Cannone of Laguna Niguel, Thomas B. Breen of San Juan Capistrano, Francis Franco of Anaheim, and their company National Equity Holdings, Inc. of Laguna Niguel, with fraudulently operating a $1.4 million commodity futures pool and with registration violations.
The CFTC complaint, filed in the U.S. District Court for the Central District of California, alleges that from at least May 2009 through at least May 2010, the defendants fraudulently solicited and accepted at least $1.4 million from 20 or more individuals to trade commodity futures contracts by participating in a commodity pool called NEH.
The defendants traded only a portion of the pool participant funds in proprietary accounts, sustaining overall and significant losses of approximately $582,631, according to the complaint. Defendants also allegedly misappropriated the majority of the pool participants’ funds to make so-called returns to participants in monthly payments that defendants claimed were the profitable proceeds of their trading.
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November 16, 2011
After Tip, the Claim For Reward
Whistleblowers alleging that two banks overcharged clients for currency trades could provide an early test of a new U.S. program to encourage tips of possible financial wrongdoing.
The whistleblowers, who are helping the Securities and Exchange Commission in civil investigations into whether Bank of New York Mellon Corp. and State Street Corp. improperly charged customers for currency trades, have filed claims seeking possible bounties from the SEC, according to people familiar with the matter.
The Securities and Exchange Commission seal outside headquarters in Washington, D.C.
The agency's whistleblower program, launched under the Dodd-Frank financial-overhaul act, stemmed from calls for tougher policing of Wall Street following the financial crisis. The plan for the first time offers government bounties to financial insiders and others who tip off the SEC about alleged securities fraud, offering payments of at least $100,000 to those whose information leads to big enforcement penalties.
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Wednesday, November 16, 2011 Helpless Indian workers conned into smuggling fake currencyBlue-collar men leaving Gulf nations are lured by free air tickets, claim Indian Intelligence reports Indian blue-collar workers in the Gulf are being warned not to carry strangers’ luggage or accept free air tickets when travelling home.
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October 15, 2011
The Dirty Dozen .. Forex Fraud .. Investment Fraud.
Many people know their names. Many people are unaware that the group who is now being referred to as the Dirty Dozen have nothing but ill intentions and are ready to provide nothing .. but take everything .. including your freedom. You sign with them and you become the target of an ongoing investigation.“Buy on the rumor, sell on the news” is a time-honored investment phrase that is oftentimes more confusing than the wisdom it attempts to impart. The meaning relates primarily to company securities that appreciate in expectation of a big news announcement. Early speculation drives ups the price, such that when the real announcement is made, most investors sell on the news to take their profits, often driving the price down, rather than up. “Pump and Dump” stock frauds also follow a similar scenario, but in this case, criminals benefit and investors lose.
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