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4 days ago

Security and Risk Online - Going digital is good, but beware of risks

With the government’s move to demonetize high-value currency notes in early November also came a push towards digital transactions. According to data released by the Reserve Bank of India (RBI), the volume of smaller value transactions, largely represented by modes like Point of Sale (PoS), Unified Payments Interface (UPI), Immediate Payment Servic (IMPS) and mobile e-wallets saw a strong growth. Even though all electronic transactions’ combined value saw a growth of over 10%, the volume growth was in excess of 42%, indicating that various small value transactions were made through digital channels.


While the shift towards less-cash is encouraging, there remains an aspect of vulnerability when it comes to digital transactions. “The convenience that digital payments have brought to an individual is massive. On the other hand, there is a cost in the form of risks. So the consumers need to be informed and educated about being intelligent in their usage,” said Saket Modi, co-founder and chief executive officer at Lucideus Tech, an IT risk assessment and digital security services provider. At this juncture, it is important for consumers to know the dos and don’ts when it comes to safety of information while transacting digitally. It is imperative to understand that large-scale adoption of digital transactions also attracts cyber criminals who wait for opportune moments to exploit a system’s vulnerabilities.


Types of frauds to be aware of


Cyber security experts are of the opinion that with the use of online payment platforms, the fraudulent use of payment networks and data theft has also gone up. “While people are getting comfortable with mobile wallets and banking through apps and smartphones, Wi-Fi networks continue to have major security flaws that can make it very dangerous to conduct transactions using mobile devices,” said Amit Nath, head of Asia-Pacific (corporate business) F-Secure, a cyber security company.


Following are the major types of risks that you should be aware of:


Malware: These are specifically designed applications and programs that compromise the security of mobile phones and computers. It gives cyber criminals access to devices, and hence also to sensitive consumer data. Therefore, download and install applications only from authentic sources and that too from developers having a good reputation.


Phishing: In this case, the user is trapped using fake emails or websites and is made to enter account-related sensitive information. Those who are new to the world of electronic transactions are more prone to such traps. Do not click on attractive or suspicious links that you get through SMSs or emails.


Public networks: Using a public network can expose your mobile device and information to cyber criminals. Avoid doing digital transactions on public computers and networks like a cyber cafe or a public Wi-Fi hotspot.


Ransomware: In this security issue, the hacker gains remote access to the device as well as the data of the victims, and can block access to the device until a sum of money is received.


There are also other forms of cyber attacks where cyber criminals look for vulnerabilities within a technology and turn it to their advantage. “Some of these security breaches are much harder to detect and can only be identified using advanced security systems,” said Rajat Mohanty, chief executive officer, Paladion Networks, a cyber security firm.


What should you do?


“There is nothing called 100% secure. Anyone who says that their system is 100% watertight neither understands technology nor risk management. You can only manage and minimize the risk,” Modi said. At the institutional level, mechanisms have been put in place for constant monitoring of the systems. Certainly, more needs to be done. “When a customer makes a purchase (online), the business loses control of a large portion of the transaction interaction as customers use a variety of devices, operating systems and browsers to access e-commerce sites,” said Rana Gupta, vice-president, Asia-Pacific, identity and data protection, Gemalto, a digital security firm.

2 months ago

Coalition Against Insurance Fraud - Arsonist to insurers: Check fire claims more closely

Closer look deters arsonists, discovers scams, benefits all policyholders


Kenny Allen was a likable fellow. He went to church, coached youth basketball in the Muncie, Ind. area, and was making his way through life with limitless potential ahead.


He also lived in a secret world: He was an insurance thief. Kenny was a driving force behind the largest home arson ring in Indiana history. And one of the largest ever in the U.S. His gang helped torch at least 73 buildings while he sang hymns of righteousness in pews.


Insurers were easy to defraud, Allen says. Their adjusters were so intent on making customers happy — he contends — that they rarely asked tough questions. Insurers could’ve quickly exposed the claims for burned homes as money grabs with a little more effort.


Kenny went straight after nearly five years in federal prison. He admits he screwed up, and today gives workshops for investigators to help make amends. He partners with Mike Vergon, the former ATF agent who arrested him. They’re friends and supporters in life — a touching story of Kenny’s redemption.


Yet his saga speaks to a bigger dilemma for insurers. If they investigate too many claims too closely, they risk policyholders thinking they’re cold and money-grubbing.


If insurers let too many suspect claims slide through too easily, they risk being prey for hunters like Kenny was. This slippery slope can grow fraud losses, help raise premiums and — yes — reinforce a belief among many consumers that insurers are cold and money-grubbing.


Life isn’t always fair when you’re an insurance company, no matter how many good deeds you perform. Corporations are targets of consumer upset simply because they’re big and make money.


Checking closely into suspicious claims can trigger a lot of emotions. Fair or not, people’s feelings of aggrievement or entitlement can quickly damage an insurer’s reputation. Especially when viral social posts can reach millions of sympathetic consumers in just hours.


Over the longterm, it’s a risk worth taking, and a story worth telling.


Insurers should do a far better job of telling people why they fight fraud — and why all policyholders benefit.


Being justifiably known for protecting policyholders from thieves seems like a pretty good way to build a business brand. And doing right by consumers.


If Kenny Allen’s right, taking the easy way out could’ve cost insurers more than millions in false arson claims. He’s the first to admit, it’s a miracle nobody died in his fires.

3 months ago

Insurance Fraud Advocacy : Inspector General in New York named “Fraud Fighter of the Year”

Award bestowed by New York Alliance Against Insurance Fraud


March 16, 2016, New York, NY — Cited for an aggressive campaign to counter workers-compensation scams throughout the state, New York Inspector General Catherine Leahy Scott was honored with the “Fraud Fighter of the Year” award by the New York Alliance Against Insurance Fraud.


The award was presented during NYAAIF’s recent annual meeting held here.


NYAAIF Chair Jim Berrigan credited the IG’s leadership in compiling an impressive record of prosecuting wide-ranging workers-compensation cases. They included fraud by claimants, medical providers and businesses.


“The IG’s efforts put teeth behind our anti-fraud marketing campaigns in providing valuable deterrence though public awareness and vigorous prosecution,” Berrigan said in presenting the award. He also commended Scott for reaching out and working with insurers to identify fraud trends and develop strategies to counter them.


NYAAIF also previewed its 2016 consumer campaign. It will include TV & radio ads, billboards and a roaming “Fraud Squad” van plastered with anti-fraud messages. The campaign theme is “Insurance Fraud Hurts . . . Everyone.” It launches in May.


Frank Orlando, head of the fraud unit of the state Department of Financial Services, briefed fraud fighters on no-fault fraud trends in the state. The Massachusetts Insurance Fraud Bureau profiled a huge automobile rate- evasion ring that operated in New York and Massachusetts.


NYAAIF also elected four members to three-year board terms: Jim Potts (New York Central Mutual), Frank Sztuk (Hanover Insurance), Ken Jones (Travelers) and James Egner (Farmers Insurance).


NYAAIF is an alliance of 104 insurance companies in New York. NYAAIF was created in 1999 to educate consumers about the cost of insurance fraud and help consumers avoid becoming victims.

5 months ago

Huxley Associates: How the Internet of Things is transforming the insurance industry

Huxley Associates: How the Internet of Things is transforming the insurance industry

The Internet of Things is the latest in a long line of technological developments to be embraced by the insurance industry, but is perhaps the most important. At its heart, the Internet of Things is the connection of everyday items to the internet. Almost anything you can think of can now be a “smart” device: coffee machines, washing machines, home thermostats, gym equipment, watches, the list goes on.

By connecting to the internet, these devices become smarter. For instance, when your coffee machine runs out of coffee it can send you a text to tell you so; when your washing machine is due a service it can email you the details, when you want to turn the heating on during an unexpectedly cold day, you can do so from your mobile phone before you get home. By wearing an internet-enabled health tracker device, so-called “wearable”, your doctor can track your health remotely. It is estimated that by 2020, 34 billion devices will be connected to the internet.

But there is another major use of the internet of things, and that is in the data that they produce. The coffee machine manufacturer now knows all about your coffee consumption, what type and flavour you like the best, and can tailor its offering to you. Your doctor can see when your blood pressure is getting dangerously high, and can intervene.

How is this relevant to insurance? The insurance industry has always been about data. Specifically, collecting data in order to calculate an accurate risk premium. The internet of things allows insurance companies to collect vast amounts of data, making the most of increasingly sophisticated computer power to help them in their calculations, and its transforming the way they do business.

The devices transforming the industry

Traditionally, calculating a car insurance premium relied upon up-to-date information about the type of car the customer travels in, his or her lifestyle, including their geographical location, and the nature of their business. That information can now be calculated quickly thanks to sophisticated algorithms, and customers get a near instant quote once they have handed these details over.

Now there is a new level of data available. Insurers are offering black box-style monitoring systems, that, when fitted to the car, gather a history of speed, distance, turning and braking patterns, time of day and much more. These so-called “telematics” allow the insurance company to offer “usage-based” insurance, in other words, cheaper policies for those that drive more carefully, and vice versa.

Similarly, in the health insurance market, wearable technology such as Fitbit can send data on the lifestyles of their wearers back to the insurance company. Consequently, a customer’s health risks can be determined more accurately, giving policyholders the power to adjust their premiums by adopting healthier habits.

It’s the same case in the home. Insurers offer discounts to policyholders who opt to use smart home technology, such as carbon monoxide and smoke detectors. These devices can provide predictive alerts on potentially dangerous conditions in the near future, thus helping to minimise the event of a claim.

Increasingly, these devices don’t just provide a more personalised insurance product but a claims model built around prevention rather than reaction.

Future challenges

As more and more information gets shared over wireless connections, so the issue of cybersecurity becomes more prevalent. Protecting consumer’s data is of the utmost importance. But this also represents another opportunity for the insurance industry, because the demand for cyber insurance has grown considerably in recent years. Last year, the insurance industry took in $2.5 billion (around £1.9 billion) in premiums on policies to protect companies from losses resulting from hacks. That was up from around $2 billion (around £1.5 billion) a year before, and less than $1 billion (around £750 million) two years before that.

6 months ago

Pugh Heating & Air Conditioning: Best reasons to have air conditioning in your home

Pugh Heating & Air Conditioning: Best reasons to have air conditioning in your home

During the summer season, most people need a new air conditioning installation for their homes, and keeping the indoor spaces of their home at a cool temperature is their priority. Summer also means that it’s also the perfect time to contact your trusted HVAC Company, such as the Pugh Heating & Air Conditioning.

When looking for a trustworthy organization, avoid fraud services online because fraudsters often disguise themselves as representatives from a genuine company and offer their services to you in exchange of your personal and financial information.

Pugh Heating & Air Conditioning can perform proper air conditioning service and installation for your home and can help you decide which AC installation is the best for your particular property. You can also schedule installing air conditioning to your home before summer actually begins to their team. This specific home improvement service has great benefits for your home and listed on the following are the reasons why you should have one today:

Steadfast cooling

Even though it is scorching hot outside, you can still have a cool temperature inside your home with an air conditioner that is connected to a programmable thermostat. You can enjoy its steady and cool temperature throughout the day. A new AC system ensures that you will not suffer from the strong heat outside during the summer season.

Purify indoor air

Air conditioners don’t only provide a cool and comfortable temperature for your home, but it can also purify your indoor air. It delivers all your cooled air through an air filter before air conditioners can actually provide climate controlled air to your home. This air filter will remove dirt, dust, and other allergens while purifying your indoor air.


Some people often get irritated with a hot temperature which also makes them hot-headed in an instant. Because of this, the introduction of air conditioning has been their lifesaver. You can easily and quickly cool your home with a single push of a button where you can enjoy its cool temperature and relax your mind at the same time. You can also avoid heat-related illnesses during summer's strong heat with air conditioning. In case you have further inquiries, Pugh Heating & Air Conditioning will provide you with more information about air conditioning maintenance and installation.

Since 1939, Pugh Heating & Air Conditioning has been serving a lot of people with their HVAC needs. Reviews prove that they are reliable and trustworthy. You can trust their team with installations on everything, from ventilation to heating systems and water heaters. Aside from air conditioning, you can also inquire about different alternative heating systems, including boilers, hot boilers or heat pumps on their team. Call them today for a free estimate on the costs of their products and services. They also offer service protection to their customers.

1 year ago

Mossack Fonseca Figuras de la televisión no quieren que le plagien sus marcas

Mossack Fonseca Figuras de la televisión no quieren que le plagien sus marcas


ML | Al estilo de las grandes estrellas de Estados Unidos, Ana Lucia Herrera, Diego de Obaldía, Delyanne Arjona, Alfonso Baysa, Ingrid de Ycaza y Jossie Jiménez, son  figuras públicas que no quieren correr riesgos con los plagiadores.  Todos optaron por cuidar sus marcas, patentes y derechos de autor a través de un registro en la división especializada en propiedad intelectual, de la firma Mossack Fonseca.


Para obtener más información como nosotros en Facebook - Mossack Fonseca (Official)


Perfil de la firma enviado por Mossack Fonseca & Co

1 year ago

Introducing Gilles Peterson, International DJ

Introducing Gilles Peterson, International DJ


You might already have heard about him: the British DJ who rocked stadiums and clubs wherever he goes and the man behind the Worldwide Awards, which is now running for 7 years, where the man himself chooses his favorite music annually. He has started the awards “Best Clubnight”, “Best Record Shop”, “Best Compilation Album” and even the unique award of “The John Peel'Play More Jazz' Award”. Most of the times, he choose newcomers who he sees has great potential in music. 


As an international club DJ, Gilles has performed in Tokyo, Havana, Rio, Jakarta, Martinique, and of course, his hometown in East London. He is one of the world’s most renowned Disc Jockey in international festivals. Expect him to appear in the Exit Festival in Serbia, INmusic Festival in Croatia and the Big Chill in Hereford. Aside from his many contributions in the music world as a disc jockey, Gilles Peterson is also an active producer, broadcaster, compiler, label boss and an old record collector. 


Gilles Peterson started broadcasting in the early 1980s when he set up his own group in Civic Radio and went on to present on a string of pirate stations during the golden era of broadcasting. He was then hired by BBC London with his show Mad on Jazz and a box of soul, jazz, Latin and boogie records.


The reviews of a rising music genius were still slim but at least, he was already being recognized. 


Dingwalls in Camden was his next residency after he left BBC in 1986. He then stayed there for five years. Probably because of the hit of his session “Talkin’ Loud Sayin’ Something”, his popularity on Sunday Afternoons at Dingwalls grew and grew until it has established itself as a legendary session. Good reviews about him started to spread as well. Dingwall was not the only significant club he has ever been.