finance risk - Page 2

  • wholesale stealing of legobricks to put them on ebay


    and it brings in more than breaking in some shop

    maybe Lego will start to certifie or ID their boxes so that stolen products can be traced

  • as bitcoin becomes another currency, stellar becomes an global intercurrency currency

    "Unveiled last week by a not-for-profit foundation bootstrapped by one of the most important developers in the world of digital currency, Jed McCaleb, and one of the hottest startups in the rapidly evolving realm of online payments, Stripe, this new project aims to bring digital currencies to a much wider audience and provide a much smoother way of moving all sorts of money over the internet. Stellar is many things, but it’s best to think of it as an effort to create a worldwide network that lets anyone send any currency and have it arrive as any other currency. You can send bitcoin and have them arrive as dollars. You can pay someone in euros, and he can receive them as litecoin.

    it is the link between the digital currencies - whatever their name - and the real currencies that is interesting

  • wikileaks survives today because at the time it bought or received bitcoins at 1 dollar a piece

    Julian Assange, the founder of WikiLeaks, was able to guide his organization through massive legal and financial hardships thanks to “strategic [early] investments” in Bitcoin that paid off by growing more than 8,000 percent, Assange wrote in a new book.


    WikiLeaks' public bitcoin address shows a yield of more than $2.2 million in bitcoins from investments and donations. Edward Snowden has also received tens of thousands of dollars worth of bitcoins in donations.

    each is now at around 500 dollars but were at a certain moment at 1200 dollars

    for 2.2 million bitcoins this is the difference between 2.2 million dollars and 1100 million dollars

    which in fact make them rich enough to withhold for long enough even if the creditcard companies and paypal are still blocking most of the money transfers

  • Belgium is only the 25th most innovative country in the world (just before Malta)


    something to be very proud off - especially as we have now begun to cut deeply into our higher education and making it as double as expensive as before (even if this is very cheap in comparaison to other countries)

  • The European fiscal authorities have only discovered 20% of all offshore money in Switzerland

    "Gabriel Zucman (born Oct 1986), the young French economist who is an assistant professor at the London School of Economics and a collaborator with compatriot economists Thomas Piketty and Emmanuel Saez on inequality research, has hailed the remarkable progress in recent times against international tax evasion but he warns that Swiss banks will continue to cheat as there are no sanctions in Europe comparable to those in the US for penalising the hiding of asset trails that they have mastered for decades.


    Earlier this month Zucman told Tages-Anzeiger, the Swiss newspaper, that based on analysis of published data, offshore money in Swiss banks has risen in recent years and an estimated “80% of European bank clients’ assets still aren’t being reported to tax authorities.”

    get the money where it is ..... in the Swiss banks before asking hardworking people to give their money to stabilize the budgets and markets and save the same banks (with offices in Switzerland)

  • BAE tries to kill the story about the hedge fund that lost millions after hack

    It was a story that send shockwaves throughout the industry and probably did Financial controllers reach for their phones to check who was going to control if the hedge funds in their country or under their responsability had done enough to protect themselves against targeted attacks and had isolated and protected enough their most important information businesswise (the models on which you make your investment décisions that is)

    now BAE is trying to kill the story and making all communications with its employee who made the comment on camera impossible

    you can take them on their word that it is as the PR guys are now trying to tell the world or you can suppose that there is more to the story and that it really happened but that their client was so upset because they were probably identified (it is a small world) and were having problems keeping their big clients and creditors on board.

    "An executive at a division of cybersecurity firm BAE Systems "incorrectly presented" an alleged cyberhacking incident involving a hedge fund, a company spokesperson said Wednesday.

    The executive, Paul Henninger, global product director for BAE Systems Applied Intelligence, told CNBC in June that his firm had found and stopped a malicious cyber-intrusion into a hedge fund client. Henninger declined to identify the hedge fund.

    But on Wednesday, BAE Systems spokesperson Natasha Davies said that the attack Henninger had described as a real event involving a hedge fund had in fact been a "scenario" used by cyber experts inside BAE Systems. CNBC reported on the event on June 19. The original story noted that BAE Systems was the source and that CNBC could not independently verify that the attack had actually happened.

    the story about how the story came to light and what happened afterwards

    if we say that there was pannick in the Financial sector after this story, we are not exagerating, in some Financial places the certs put out warnings and went into amber status (high danger) and refused to comment about the reasons for doing so (but it may be something else)

    even as a scenario, it is a worst case scenario because it is so simple

    how much of the data that is important for the decision-making in which investments is on the personal computers or desktop machines and what is the influence on the market if that data falls in the hand of another trader who will now know exactly how you will react in the market

    there is no information more precious than knowing exactly what the other investors will do in the market at any given moment

    it is Worth billions because you could make billions in seconds and unless they have found a smoking gun they wouldn't be able to attack you for it because you could show them that you had only the same state of mind but just a bit earlier than them (so you took the profils from them)

    and as a reminder

    but in the story that was published afterwards some other sources were talking about a 2 year timeframe in which 20 of the top50 hedgefunds were the victims of targeted attacks without telling if they had lost some information or money or exposed themselves to any risk  so read this story

    and as they say you don't have to hack many of them to have a real influence on the market (cowboy capitalism)

  • the international financial industry is now turned upside down by US antifraud law

    "Observers said fund managers are becoming more conservative in the wake of global developments such as the U.S. Foreign Account Tax Compliance Act and other U.S. efforts.

    Following large settlements paid to the U.S. by Credit Suisse Group AG and BNP Paribas SA, "Other countries are getting angry about the size of the fines and are grumbling about retaliation," said Jonathan Lachowitz, a cross-border investment adviser based in Lexington, Mass., and Lausanne, Switzerland.

    Mutual funds are regulated differently from other investments and could be a target, he said.

    David Kuenzi, an investment manager in Madison, Wis., who works with Americans abroad, said that selling U.S. mutual funds to those investors had long been prohibited. "But it was matter of 'Don't ask, don't tell.' Now the firms are getting more aggressive about compliance," he said.

    A spokesman for Putnam Investments said the firm is no longer accepting additional investments into existing accounts held by non-U.S. residents.

    The spokesman said the changes were made "in accordance with U.S. anti-money-laundering and 'Know Your Customer' policies" and in response to recent tightening of European laws limiting sales of funds not registered in their jurisdictions.

    this is a fundamental change that will change the Financial industry for ever - especially after the enormous fines that BNP-Paribas has received and which are the real incentive for every US firm to abide by the rules nobody cared about before.

    this is a bit like our information securitypolicy - don't ask and we don't do anything and as long as there are no fines, we really don't care

    and you just need one big victim paying a big fine to get a whole industry moving out of fear of being the next one

  • this is why a speculator has bought from the FBI the bitcoin cash of Silk Road

    The 13 million dollar worth of bitcoins that the FBI had seized from Silk Road was auctioned off for the first time.

    'With just 13 million bitcoins in circulation, it can be hard for new companies to buy large chunks of the digital currency without driving prices up. But the arrangement with Draper will help Vaurum provide its clients with easier access to bitcoins. “It’s still quite difficult to get access to bitcoin in these developing economies, Bhama wrote in blog post announcing the news, “and that’s exactly where it is needed the most. Our goal is to build reliable infrastructure and increase liquidity, which are two major challenges in the ecosystem.”

    he will use it for his own service company that sets up bitcoin exchanges for companies

    before they would have found it to hard to enter the market because there would be not enough bitcoins available for them to have immediately a critical impact on the market

  • new bank trojan steals half a million Euro in a week and something easy banks could do


    but in the document there is something interesting

    "The stolen money was passed on to the crooks’ accounts in an interesting and unusual way. Our experts noticed a distinctive quirk in the organization of the so-called ‘drops’ (or money-mules), where participants in the scam receive some of the stolen money in specially created bank accounts and cash out via ATMs. There were evidences of several different ‘drop’ groups, each assigned with different sums of money. One group was responsible for transferring sums of 40-50,000 Euros, another with 15-20,000 and the third with no more than 2,000 Euros. "

    transferring 40.000 to 50.000 Euro online without any double verification ? WOW

    we have blocked our creditcards and bankcards to a certain amount each month (not more than a percentage of my low wage) so even when it gots abused they can't empty an account or abuse it

    it seems now that online this is totally different

    well give me the possibility to block any transfers bigger than x online that I didn't authentificate or approve after or before or something like that

    just common sense

    it would be as effective as the rule that you now have to tell your bank you are travelling to some country if you want to use your bankcard outside of Europe (the fraud diminished by the millions instantly)


  • US tech companies in Ireland, Holland and Luxembourg may finally have to pay taxes

    The European Commission has told Ireland it may investigate more companies as part of a probe into the country's tax practices, after announcing a formal probe into Apple's Irish subsidiaries.

    The EU is investigating whether Ireland, Luxembourg and the Netherlands have attracted investment and jobs by helping big companies avoid tax in other countries, including EU members.

    Corporate profit-shifting has come under the international spotlight in recent years following reports of how companies such as Apple and Google use complex structures to slash their tax bills.

    so instead of claiming that they are socially responsable companies blablablabla

    they should pay their taxes like any other firm or worker

    they make enough profit anyway


  • #dogecoin : another virtual currency hacked apart because of no security

    make money fast while you still can

    and don't care about security because that costs too much and takes too much time

    that is why everything in virtual currencies is virtual expect if you as in gambling can cash out in time but once you are addicted or dependent you will lose it all


  • #ukraine Russia finds the international financial markets not very interested

    Russia failed to sell local-currency bonds due August 2023 at today’s auction as an accord to reduce tension around Ukraine faltered.


    The Finance Ministry canceled the sale of as much as 10 billion rubles ($280 million) of nine-year securities because there were no bids at an acceptable price, according to a statement on its website. The ministry is due to issue 10 billion rubles of notes due May 2019 later today.

  • #kiev financial sector is running from Rusland as fast as possible

    the Geneva agreement is a paper of which untill now nothing has been put in place

    and even if that has been the case than there is still Crimea

    and the total new way in which we see Russia (not longer as a peaceful partner but a possible enemy)

    "Officials from the Treasury Department and the National Security Council met in Washington with mutual-fund and hedge-fund managers, according to a person who attended. Their comments sent a message that more sanctions are on the way and that investors, if they were concerned about the impact, should manage that risk, said the person, who asked not to be identified because the discussions weren’t public.


    The meeting, convened a week before talks with Russia in Geneva that ended yesterday, left managers grappling with the question of whether the government intended to follow through, or was trying to trigger asset sales through the threat of sanctions, said the person. Former administration officials have said forcing Russia out of global financial markets is the strongest tool President Barack Obama has at his disposal in trying to defuse the ongoing crisis between Russia and Ukraine.


    “A lot of firms on the buy side have cut their exposure to Russia,” Jack Deino, the head of emerging-market debt at Atlanta-based Invesco Ltd., said in an interview, talking about the industry in general.

    and after the financial crisis and with all the new international norms about exposure to risk and the safeguards you have to built in, would you risk your company or funds on investments in Russia (and having to set aside as money as you have invested in case that it is being blocked)

    Russia : from golden opportunity to enormous risk in one month time

  • social media firms should pay taxes in Turkey and have offices

    Social media firms operating in Turkey should open offices there and pay taxes, authorities said Tuesday, amid a row with Twitter which the Turkish prime minister has branded "tax evaders".

    for the moment they are installing themselves in the western countries with the lowest taxes and transferring the gains of other services to that headoffice in the payment of royalties because of the use of the brand and so on

    but this discussion is also alive in France

  • #kiev the russian ruble is still higher than before the crisis

    wonder what it will do tomorrow

    also a lot of companies will think now that business and surely financial links to Russia are a risk now and not an asset or investment - that is a whole other ballgame and makes it much harder to get investments and loans approved because banks and firms have become risk-averse for the moment (except those playing with other people's money without any oversight)

  • #bitcoin is mainly an American market now - as it was in the first place

    this of course makes it easier for the discussion with the US authorities who are studying a way to make bitcoin legal without restraining it too much neither

    this shows the currency that are used against bitcoin

  • bitcoin at the same price as nov13 - 320 euro after Chinese news

    China has been the booming factor for the speculation in Bitcoin. THe smartasses are those who have sold their bitcoins since long and have - if they bought it at the early start of 1 dollar or later up to 200 dollars made a big gain

    now that it has fallen from nearly 1200 dollars to nearly a third of that price some people have lost a lot of money and many of those are in China which maybe the reason that the Chinese authorities have finally decided to stop all trading in Bitcoin

  • #kiev the possible fatal sanction for the Russian banks

    if a bank has no access to Swift - and it will take too long to build another system - than she has enormous problems for getting money or transferring money

  • the mortal blow to bitcoin comes from China

    According to Chinese business website Caixin, the People's Bank of China (PBOC)'s latest ruling, taking effect April 15, means that banks and payment companies must close "all the accounts opened by the operators of websites that trade in the virtual currency."

    In other words, all cryptocurrency trading websites—the equivalent of Mt. Gox or Polinex—operating in China must shut their doors. In addition, cash will be the only way for investors to purchase Bitcoins, according to one analyst who spoke to the publication.

    "The only one way out for Bitcoin websites is moving their servers abroad and using the service of foreign banks and payment companies," the analyst said.

    While the ruling has not been officially announced by the central bank, documents seen by the publication and reportedly sent to PBoC regional offices state that money can be withdrawn from the accounts before April 15, but deposits are no longer permitted. If banks fail to comply, "punishments" will be issued, although there is no clarity on what kinds of punishments these will be.

    The document states that Bitcoin is not to be considered a currency, but rather a commodity—and, as a result, 15 trading websites were named whose accounts are due for closure. It added that investors trade at their own risk, but need to understand it is not legal tender.

    The reason is that Bitcoin was enormously popular in China and was used to bypass all the controls and limitations on financial gain and investments as they were also going down on shadow banking

    expect the value of Bitcoin to do down dramatically this time as the demand will be much smaller now - expect if Russians start using it as bypass currency

    It has fallen today more than 40$ in three hours and is far from recovering while all kinds of articles in the bitcoin media try to give new confidence while the financial media say that it is over, period