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Sex Scandals, Scams, Phishing and Your Bank Account

October 19, 2008

Official: Sarkozy’s bank account hacked by thieves

In desperate times, scammers pounce

A brief guide to busts, manias and greed

Dominique Strauss-Kahn, French head of IMF, in sex scandal

A one-night stand has endangered the stellar career of the French head of the International Monetary Fund and dismayed President Sarkozy as he seeks to put a French stamp on a new world financial order.

The news that Dominique Strauss-Kahn, 59, is being investigated in Washington over a fling with a former subordinate has unsettled Mr Sarkozy because he has mounted an effective double act with him in the effort to manage the financial crisis.

Paris had been hoping that no news would break until Mr Strauss-Kahn had been cleared later this month and the matter would disappear in the din of the US presidential election.

Risk management: Hunt is stepped up for the rogue traders

In January, Société Générale revealed that unauthorised dealing by Jérôme Kerviel, a futures trader in Paris, had resulted in losses of €4.9bn ($6.6bn) for the French bank, the biggest rogue trading scandal in history.

… however, even the best risk management practices may not stop a rogue trader.

“Someone with fraud on their mind can find ways to get around any system,” says Ms Downs.

“And sometimes systems fail, no matter how much you think they can’t … We need to be looking at what

can slip through the cracks.”

Cisneros helped build flawed American dream

Henry Cisneros

After a sex scandal destroyed his promising political career and he left Washington, he eventually reinvented himself as a well-regarded advocate and builder of urban, working-class homes. He has financed the construction of more than 7,000 houses.

For the three years he was a director at KB Home, Cisneros received at least $70,000 in pay and more than $100,000 worth of stock. He also received $1.14 million in directors’ fees and stock grants during the six years he was a director at Countrywide. He made more than $5 million from Countrywide stock options, money he says he plowed into his company.

Not much is new in world of scandal

Although the sex scandals are entertaining, they are signs of deeper disorders.  Power, Money and Sex are hopelessly intertwined.  The ego drives each one.  They are a natural combination, but, they often evolve into a PT Barnum attitude.  “I am smarter, sexier and more worthy that the general public … a new sucker is born every day”.  My personal needs and urges trump virtue, so I can screw you with immunity. 

I am special … you are my sport …

The fallout from today’s global economic crisis is multi-faceted and very dangerous.  Opportunity for bold cons, scams and exploitation is ripe.  Internet hackers are targeting banks, bank accounts and personal information.  Phishing is rampant.  Your emails are filled with enticing offers and alerts and promises of unexpected windfalls.  Anyone using their computer for online banking is a target.  Phishing attacks have increased on individuals.  Banks are under seige every day by hackers.  The vigilant among us will be tested.  There are multiple resources available on the web to arm you with scam protection, but some of these are also suspect.  Personally, I would reduce online private transactions altogether. But if you don’t or can’t do that, here are some resources.

Banking Scam Revealed

Warning over UK’s overseas bribes culture

How to Report and Identify Phishing, E-mail Scams and Bogus IRS Web Sites

Inside Identity Theft Info

Identity Theft and Your Tax Records

link to Social Security Online home

Identity Theft And Your Social Security Number

Welcome to the Bureau of Consumer Protection

  1. October 19, 2008 1:15 pm

    Thank you Mr. Douglas. I am impressed with your page and will add it to my resources & watchdog pages. I will also update this article with the page info.

  2. October 19, 2008 9:17 am

    This is an excellent collection of articles and resources.

  3. October 19, 2008 9:00 am

    A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks


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