Stakeholders by Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK
Although cardholders are usually the focus of concern in matters of card fraud, there
are other stakeholders in the establishment, use and maintenance of smartcards. These
stakeholders are (1) cardholders; (2) merchants; (3) Acquirers; and each of these has
roles, responsibilities and risks in operation of the card system.
Research indicates that we can all do more to defeat criminals, particularly where
basic security measures are involved. Statistics, such as the following [8], are particularly
alarming and highlight the need for cardholders to be aware of the risk and impact
if they fail to protect their PIN number and card details:
• 25% of all UK residents have disclosed their PIN to someone else, exposing them
to heightened risk of fraud and potentially making them liable for any card fraud
losses they may suffer;
• 27% of Britons use the same PIN for all their cards and the average adult has four
cards each;
• 44% of people still allow their cards out of their sight (in restaurants and bars for
example) when settling a bill;
• 51% of online shoppers do not fully appreciate that the start of a website address
changes from ‘http’ to ‘https’ when they enter a website made secure for purchasing.
The key recommendation for cardholders is that they should be security conscious
and take all practical precautions when undertaking a card payment. Cardholder
complacency is still a large factor in card fraud levels. While card issuers are unlikely
to acknowledge vulnerabilities, in order to avoid adverse reputational impacts, increased
cardholder awareness of the risks and impacts associated with known vulnerabilities
in the Chip and PIN system, will ensure that they become less complacent.
The large variety of card terminals makes it difficult for a cardholder to identify
one that has been tampered with, but there are other ways they can notice fraudulent
actions, for example by being familiar with merchant best practices. This would allow
them to raise alarms with other staff members if suspicious behaviour is observed,
e.g., swiping a card prior to inserting it into a card terminal or watching a PIN
being entered. Cardholders should also check their credit card and current account
statements to identify any illicit transactions. One measure to limit exposure for a
debit card linked to a current account is to establish a second account containing a
smaller balance for use in card transactions.
Stakeholders by Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow. The agreements which merchants have with their acquirers spell out the terms under
which they can accept card payments. The terminals supplied by the acquirers determine
floor limits and undertake the Chip and PIN authorisation process. Vulnerabilities
exist when fraudsters have access to terminals and so merchants should seek
to address and improve staff awareness of process vulnerabilities that could lead to
card fraud through training. Staff should be trained in card transaction processes and
be empowered to request additional authorisation via a Code 10 call where they deem
necessary and know how to do this without putting themselves at risk.
Stakeholders by Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow. Merchants must also be alert to the fact that they are a prime target for fraudsters.
Smartcard Scam: Stakeholders – University of Strathclyde and Associates. They have a responsibility to be vigilant and monitor transactions and any suspicious
staff activities. References should be checked when hiring new staff. Systems holding
customer and transaction data must be adequately protected. Any concerns raised
by customers about staff undertaking card transactions should be investigated. Card
present merchants have various ways of reading and processing card details e.g. staff
inserts card, cardholder inserts card or card is swiped and this can make it difficult for
cardholders to know what would constitute a suspicious action by a member of staff.
Acquirer guidelines should be followed to minimise the risk of chargeback for
both card present and CNP transactions. The planned rollout of ‘contactless’ cards in
the UK towards the end of 2007 may introduce further concerns for merchants as only
one in three low value transactions would be flagged for verification by PIN. For a
CNP merchant there are specific challenges as Chip and PIN is not currently an option
for this type of transaction and it is an area where card fraud has risen significantly.
The Address Verification System (AVS) allows retailers to verify the billing address
supplied with that associated with the cardholder and Card Security Code (CSC)
allows retailers to cross check a special security code held on the back of the card.
Card schemes are also introducing positive identification measures such as Verified
by Visa and MasterCard Secure Code to help merchants. Merchants should protect
themselves against chargeback’s by introducing these measures for on-line transactions.
By 30th June 2007, all CNP merchants must have introduced this measure or at
least have a plan in place to do so. Chargeback of disputed transactions is likely for
any non-compliant merchants.
Smartcard Scam: Stakeholders – University of Strathclyde and Associates. The acquirer or merchant acquirer is the bank retained by the retailer to process
payment card transactions on their behalf. Acquirers are responsible for paying the
merchant for the transactions they process. They do this on receipt of card transaction
details from retailers by passing them to the card issuer for authorisation and processing.
Acquirers are also responsible for obtaining transaction authorisation prior to the
delivery of goods and/or services.
The responsibility for maintenance and upgrades to card terminals also lies with
acquirers who risk who must provide clear instructions and guidelines to merchants in
order to minimise instances of card fraud and chargeback. Acquirers are increasingly
using fraud detection software to detect patterns that could be due to fraudulent activity.
This can be helpful in identifying and investigating unusual patterns of transactions.
Thursday, 24 March 2011
University of Strathclyde Card ID Theft Warning: Trends in Smartcard fraud scam
Department of Computer and Information Sciences, University of Strathclyde and Associates. The introduction of smartcard technologies has reduced the incidence
of card fraud in the UK, but there are still significant losses from fraudulent
card use. In this paper we detail the context of smartcard introduction and describe
the types of fraud that remain a threat to cardholders and other stakeholders
in the card system. We conclude with a risk analysis from the cardholder’s
perspective and recommend greater cardholder awareness of such
risks.
A recent report from the European Security Transport Association (ESTA) found that
nearly 20% of the adult population in Great Britain has been targeted as part of a
credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital
of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as
other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds
may be used to fund organised crime. Smart payment cards (Chip and PIN
cards) were introduced in the UK to replace magnetic stripe cards and support PIN
verification of card transactions. By the end of 2005, more than 107 million of the
141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic
card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in
2006 (Figure 1). The reduction has been widely attributed to the rollout of smart
cards with Chip and PIN authentication.
Card ID Theft. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK
Identity theft occurs when a criminal obtains an individual’s personal information and
uses this to open or access card accounts in that individual’s name. A criminal may
use stolen documents such as utility bills and bank statements, or false documents, to
give the necessary documentation to open up a card account. Alternatively, they can
use key bits of personal information to take control of an account, perhaps arranging
for payments to be taken from the card account or by changing account address details
and requesting issue of cheques or a new card.
Likely Trends. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK. Wilhelm [7] considered the future of credit and debit card fraud due to the introduction of smart cards and predicted a hybrid period of approximately ten to fifteen yearsduring which magnetic stripe and smart card technology would co-exist. In this period,fraudsters will get creative and exploit technology and social conditioning to devise
attacks on chip technology.
One of the highlighted concerns is allowing the use of the magnetic stripe as a
fallback where a chip fails to function. This permits fraudsters to circumvent a number
of the safeguards provided by smart card technology. This will prevent Chip and
PIN from fully addressing counterfeit card fraud made possible through the theft of
card details in transit or from lost/stolen scenarios. While the report predicts that a
significant reduction in card counterfeiting is likely to occur, it acknowledges that
while magnetic stripes are available, counterfeiting remains a viable option for fraudsters.
The report also highlights that fraudsters will focus their efforts on CNP fraud
and target merchants as a vulnerable link in the process.
of card fraud in the UK, but there are still significant losses from fraudulent
card use. In this paper we detail the context of smartcard introduction and describe
the types of fraud that remain a threat to cardholders and other stakeholders
in the card system. We conclude with a risk analysis from the cardholder’s
perspective and recommend greater cardholder awareness of such
risks.
A recent report from the European Security Transport Association (ESTA) found that
nearly 20% of the adult population in Great Britain has been targeted as part of a
credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital
of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as
other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds
may be used to fund organised crime. Smart payment cards (Chip and PIN
cards) were introduced in the UK to replace magnetic stripe cards and support PIN
verification of card transactions. By the end of 2005, more than 107 million of the
141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic
card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in
2006 (Figure 1). The reduction has been widely attributed to the rollout of smart
cards with Chip and PIN authentication.
Card ID Theft. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK
Identity theft occurs when a criminal obtains an individual’s personal information and
uses this to open or access card accounts in that individual’s name. A criminal may
use stolen documents such as utility bills and bank statements, or false documents, to
give the necessary documentation to open up a card account. Alternatively, they can
use key bits of personal information to take control of an account, perhaps arranging
for payments to be taken from the card account or by changing account address details
and requesting issue of cheques or a new card.
Likely Trends. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK. Wilhelm [7] considered the future of credit and debit card fraud due to the introduction of smart cards and predicted a hybrid period of approximately ten to fifteen yearsduring which magnetic stripe and smart card technology would co-exist. In this period,fraudsters will get creative and exploit technology and social conditioning to devise
attacks on chip technology.
One of the highlighted concerns is allowing the use of the magnetic stripe as a
fallback where a chip fails to function. This permits fraudsters to circumvent a number
of the safeguards provided by smart card technology. This will prevent Chip and
PIN from fully addressing counterfeit card fraud made possible through the theft of
card details in transit or from lost/stolen scenarios. While the report predicts that a
significant reduction in card counterfeiting is likely to occur, it acknowledges that
while magnetic stripes are available, counterfeiting remains a viable option for fraudsters.
The report also highlights that fraudsters will focus their efforts on CNP fraud
and target merchants as a vulnerable link in the process.
Trends in Smartcard Scam Warning: Lost and Stolen Fraud
Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde, Glasgow G1 1XH, UK
A recent report from the European Security Transport Association (ESTA) found that
nearly 20% of the adult population in Great Britain has been targeted as part of a
credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital
of Europe’ , with UK citizens twice as likely to become victims of card fraud as
other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds
may be used to fund organised crime. Smart payment cards (Chip and PIN
cards) were introduced in the UK to replace magnetic stripe cards and support PIN
verification of card transactions. By the end of 2005, more than 107 million of the
141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic
card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in
2006 (Figure 1). The reduction has been widely attributed to the rollout of smart
cards with Chip and PIN authentication.
Trends in Smartcard Scam, Department of Computer and Information Sciences, University of Strathclyde and Associates: Lost and Stolen Fraud. This type of fraud occurs when a card is lost by the cardholder or is stolen from them. Fraudsters can then use the card to obtain goods and services. Once the cardholder notices their card is gone, they will contact the card issuer but as it can take time to realise the card has gone, most fraud of this type takes place before the card has been reported as lost or stolen.
Levels of this type of fraud have remained static for the past five years but the introduction
of Chip and PIN is expected to reduce this by making it more difficult for
fraudsters to use a lost or stolen card in person at a retail outlet. Prior to Chip and
PIN, the retailer would verify that the signature on the sales voucher matched that
written on the back of the card. The signature strip was signed by the cardholder in
ink and was subject to wear and tear over the lifetime of the card.
University of Strathclyde and Associates - Mail Non-Receipt. This occurs where a card is stolen when it is in transit from the issuing bank or building
society to the cardholder. This is similar to lost and stolen fraud since it takes
time for the cardholder to realise that a card has not arrived. This delay is often compounded
by the fact that cards are often sent out automatically by the issuers rather
than at request of the cardholder, e.g. when a card is nearing its expiry date. Card issuers
have endeavoured to reduce levels of this type of fraud by using secure mail
services and/or requiring the cardholder to phone and activate the card before it can
be used. However, fraudsters could still intercept cards in transit and skim the details
before re-mailing them to the cardholder. Once the cardholder activates the card, the
fraudster can also use the counterfeit card produced using the skimmed details.
Credit card cheques, often sent to cardholders on an unsolicited basis by the card
issuing company, also offer criminals an additional means of obtaining unauthorised
spending against a card account.
Card Not Present, Trends in Smartcard Scam: Lost and Stolen Fraud. This type of fraud covers any card transactions where the cardholder is not physically
present, i.e. those conducted over the internet, telephone, fax and mail order, and is
now the largest type of card fraud in the UK [6]. Fraudsters obtain details of a card,
i.e. cardholder name, card number and the 3 digit security number from the back of
the card, and can use these to pay for goods or services over the internet, phone, fax
or mail order. Companies reliant on Card Not Present (CNP) transactions are unable
to check the physical security features of the card to determine if it is genuine and
cannot rely on signature or PIN authentication. Equally, there is no check that the information
is being provided by the genuine cardholder.
A recent report from the European Security Transport Association (ESTA) found that
nearly 20% of the adult population in Great Britain has been targeted as part of a
credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital
of Europe’ , with UK citizens twice as likely to become victims of card fraud as
other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds
may be used to fund organised crime. Smart payment cards (Chip and PIN
cards) were introduced in the UK to replace magnetic stripe cards and support PIN
verification of card transactions. By the end of 2005, more than 107 million of the
141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic
card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in
2006 (Figure 1). The reduction has been widely attributed to the rollout of smart
cards with Chip and PIN authentication.
Trends in Smartcard Scam, Department of Computer and Information Sciences, University of Strathclyde and Associates: Lost and Stolen Fraud. This type of fraud occurs when a card is lost by the cardholder or is stolen from them. Fraudsters can then use the card to obtain goods and services. Once the cardholder notices their card is gone, they will contact the card issuer but as it can take time to realise the card has gone, most fraud of this type takes place before the card has been reported as lost or stolen.
Levels of this type of fraud have remained static for the past five years but the introduction
of Chip and PIN is expected to reduce this by making it more difficult for
fraudsters to use a lost or stolen card in person at a retail outlet. Prior to Chip and
PIN, the retailer would verify that the signature on the sales voucher matched that
written on the back of the card. The signature strip was signed by the cardholder in
ink and was subject to wear and tear over the lifetime of the card.
University of Strathclyde and Associates - Mail Non-Receipt. This occurs where a card is stolen when it is in transit from the issuing bank or building
society to the cardholder. This is similar to lost and stolen fraud since it takes
time for the cardholder to realise that a card has not arrived. This delay is often compounded
by the fact that cards are often sent out automatically by the issuers rather
than at request of the cardholder, e.g. when a card is nearing its expiry date. Card issuers
have endeavoured to reduce levels of this type of fraud by using secure mail
services and/or requiring the cardholder to phone and activate the card before it can
be used. However, fraudsters could still intercept cards in transit and skim the details
before re-mailing them to the cardholder. Once the cardholder activates the card, the
fraudster can also use the counterfeit card produced using the skimmed details.
Credit card cheques, often sent to cardholders on an unsolicited basis by the card
issuing company, also offer criminals an additional means of obtaining unauthorised
spending against a card account.
Card Not Present, Trends in Smartcard Scam: Lost and Stolen Fraud. This type of fraud covers any card transactions where the cardholder is not physically
present, i.e. those conducted over the internet, telephone, fax and mail order, and is
now the largest type of card fraud in the UK [6]. Fraudsters obtain details of a card,
i.e. cardholder name, card number and the 3 digit security number from the back of
the card, and can use these to pay for goods or services over the internet, phone, fax
or mail order. Companies reliant on Card Not Present (CNP) transactions are unable
to check the physical security features of the card to determine if it is genuine and
cannot rely on signature or PIN authentication. Equally, there is no check that the information
is being provided by the genuine cardholder.
Thursday, 10 March 2011
University of Strathclyde and Associates Types of Card Fraud Scam
A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment cards (Chip and PIN cards) were introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions. By the end of 2005, more than 107 million of the 141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in 2006 (Figure 1). The reduction has been widely attributed to the rollout of smart cards with Chip and PIN authentication.
Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK. Types of Card Fraud Scam. The UK Payments Association (APACS) has identified five categories of card fraud: Counterfeit Card Fraud, Skimming, Mail Non Receipt, Lost and Stolen Fraud, Card not Present
Counterfeit Card Fraud Scam. Counterfeit cards are also referred to as cloned cards. Counterfeit cards are made by altering and re-coding validly issued cards or by printing and encoding cards without permission from the card issuing company. Most cases of counterfeit fraud involve skimming of valid card details, a process whereby the genuine card details from the magnetic stripe are electronically copied onto another card, without the legitimate cardholder’s knowledge. In most cases, the cardholder will be unaware that their card details have been skimmed until card statements reveal that illicit transactions have been made on their account.
Skimming. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK - Skimming of card details can happen at retail outlets where a corrupt employee can put a card through a skimming device which will copy data from the card’s magnetic stripe so it can be used to encode a counterfeit card. Skimming can also occur at cash machines where a skimming device has been fitted. A skimming device is attached to the card entry slot where it records the electronic details from the magnetic stripe on the back of the inserted card. A separate pin-hole camera is hidden to overlook the PIN entry pad to record the PIN number. Fraudsters can then produce a counterfeit card for use with the captured PIN to withdraw cash at a cash machine. Criminals can also shoulder surf, whereby they watch the user entering a PIN and then steal the card for their own use. Another type of device can be inserted into a cash machine where it will trap the inserted card. A fraudster can then suggest retrying the PIN. Once the genuine cardholder gives up and leaves to contact the card issuer or cash machine operator, the criminal can then remove device, retrieve the card
and then use it with the PIN details they have observed.
Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK. Types of Card Fraud Scam. The UK Payments Association (APACS) has identified five categories of card fraud: Counterfeit Card Fraud, Skimming, Mail Non Receipt, Lost and Stolen Fraud, Card not Present
Counterfeit Card Fraud Scam. Counterfeit cards are also referred to as cloned cards. Counterfeit cards are made by altering and re-coding validly issued cards or by printing and encoding cards without permission from the card issuing company. Most cases of counterfeit fraud involve skimming of valid card details, a process whereby the genuine card details from the magnetic stripe are electronically copied onto another card, without the legitimate cardholder’s knowledge. In most cases, the cardholder will be unaware that their card details have been skimmed until card statements reveal that illicit transactions have been made on their account.
Skimming. Department of Computer and Information Sciences, University of Strathclyde and Associates, Glasgow G1 1XH, UK - Skimming of card details can happen at retail outlets where a corrupt employee can put a card through a skimming device which will copy data from the card’s magnetic stripe so it can be used to encode a counterfeit card. Skimming can also occur at cash machines where a skimming device has been fitted. A skimming device is attached to the card entry slot where it records the electronic details from the magnetic stripe on the back of the inserted card. A separate pin-hole camera is hidden to overlook the PIN entry pad to record the PIN number. Fraudsters can then produce a counterfeit card for use with the captured PIN to withdraw cash at a cash machine. Criminals can also shoulder surf, whereby they watch the user entering a PIN and then steal the card for their own use. Another type of device can be inserted into a cash machine where it will trap the inserted card. A fraudster can then suggest retrying the PIN. Once the genuine cardholder gives up and leaves to contact the card issuer or cash machine operator, the criminal can then remove device, retrieve the card
and then use it with the PIN details they have observed.
Strathclyde University and Associates: Boiler Room Movie Review
The Digital Information Office, Strathclyde University and Associates service for electronic resource management review by Bradley Null: America is the land of opportunity, and now more than ever, the opportunity that most Americans are preoccupied with is that of easy money. Our news media is saturated with stories of the instant millionaire, 25-year-old startup CEOs worth nine figures or the crafty investor that bought that startup on IPO and doesn't have to worry too much about his day job anymore either. There are a number of powerful cautionary tales waiting to be drawn from this unwholesome frenzy. Boiler Room tries to tell one of these stories, but sadly it fails to add much to the greed genre established by its two heavily referenced predecessors: Wall Street (1987) and Glengarry Glen Ross (1992).
Boiler Room is the story of Seth (Ribisi), a 19-year-old college dropout obsessed with the American dream of easy money. After concluding rather quickly that college isn't necessarily the fast track to a quick buck, he opens up an underground casino out of his house in Queens, providing a popular service for the local city college kids. After his disapproving father (Rifkin) finds out about the casino, Seth, feeling a repressed need to gain his father's approval, looks into an opportunity to become a stockbroker at the small firm of J.T. Marlin.
As it turns out, the firm, located in the heart of Long Island, conspicuously far from Wall Street, is a 'chop shop,' shorthand for a brokerage house more interested in pawning off securities for its own interests rather than serving its customers. When Seth's father discovers this, not only does Seth not find the approval he was hoping for, but he is excommunicated from the family.
Though he has only a minor part in the film, Ben Affleck is highlighted in trailers for the film, and the discerning observer will notice a strong similarity between his scene in the trailer, and Alec Baldwin's immortalized portrayal of a real estate shark in Glengarry Glen Ross. In fact, Affleck's big scene draws heavily on Baldwin's, though his performance (and the material he has to work with) does not live up to what is almost universally agreed upon as the best performance of Baldwin's career. This is not the only referencing of David Mamet's portrayal of the dark world of real estate cold-calling in this movie, however. Later in the film, when receiving some instructions on how to cold-call potential customers, Seth is told to remember one of Baldwin's catch phrases from that scene, 'A-B-C. Always Be Closing.' Boiler Room also liberally references, both directly and indirectly, its direct predecessor in the 'greed is good' category of filmmaking. Not only drawing its basic theme and plot structure from Wall Street, Boiler Room also draws its best dialogue during a scene in which a number of young stock brokers sitting in one of their sparely decorated mansions, compete with each other to quote lines from Wall Street, whose antagonist, Gordon Gecko, is obviously regarded as an idol within the group.
As a movie, Boiler Room is moderately entertaining. Vin Diesel in particular, off a strong turn in Saving Private Ryan, turns in another powerful performance as Chris, one of Seth's mentors at J.T. Marlin. Sadly though, Ben Younger, in his writing and directorial debut, adds very little to the filmic pantheon in his own voice. Even the film's most prolific statement on the American obsession with getting rich, 'either you're slinging crack rock or you've got a wicked jump shot,' is a quote of the rap star Notorious B.I.G. The most admirable outcome of this film might be that it leads viewers to check out its two predecessors. I would urge the same as well.
Boiler Room is the story of Seth (Ribisi), a 19-year-old college dropout obsessed with the American dream of easy money. After concluding rather quickly that college isn't necessarily the fast track to a quick buck, he opens up an underground casino out of his house in Queens, providing a popular service for the local city college kids. After his disapproving father (Rifkin) finds out about the casino, Seth, feeling a repressed need to gain his father's approval, looks into an opportunity to become a stockbroker at the small firm of J.T. Marlin.
As it turns out, the firm, located in the heart of Long Island, conspicuously far from Wall Street, is a 'chop shop,' shorthand for a brokerage house more interested in pawning off securities for its own interests rather than serving its customers. When Seth's father discovers this, not only does Seth not find the approval he was hoping for, but he is excommunicated from the family.
Though he has only a minor part in the film, Ben Affleck is highlighted in trailers for the film, and the discerning observer will notice a strong similarity between his scene in the trailer, and Alec Baldwin's immortalized portrayal of a real estate shark in Glengarry Glen Ross. In fact, Affleck's big scene draws heavily on Baldwin's, though his performance (and the material he has to work with) does not live up to what is almost universally agreed upon as the best performance of Baldwin's career. This is not the only referencing of David Mamet's portrayal of the dark world of real estate cold-calling in this movie, however. Later in the film, when receiving some instructions on how to cold-call potential customers, Seth is told to remember one of Baldwin's catch phrases from that scene, 'A-B-C. Always Be Closing.' Boiler Room also liberally references, both directly and indirectly, its direct predecessor in the 'greed is good' category of filmmaking. Not only drawing its basic theme and plot structure from Wall Street, Boiler Room also draws its best dialogue during a scene in which a number of young stock brokers sitting in one of their sparely decorated mansions, compete with each other to quote lines from Wall Street, whose antagonist, Gordon Gecko, is obviously regarded as an idol within the group.
As a movie, Boiler Room is moderately entertaining. Vin Diesel in particular, off a strong turn in Saving Private Ryan, turns in another powerful performance as Chris, one of Seth's mentors at J.T. Marlin. Sadly though, Ben Younger, in his writing and directorial debut, adds very little to the filmic pantheon in his own voice. Even the film's most prolific statement on the American obsession with getting rich, 'either you're slinging crack rock or you've got a wicked jump shot,' is a quote of the rap star Notorious B.I.G. The most admirable outcome of this film might be that it leads viewers to check out its two predecessors. I would urge the same as well.
Trends in Smartcard fraud Warning– Abstract: University of Strathclyde and Associates
Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde, Glasgow G1 1XH, UK {susan.burns, george.weir}@cis.strath.ac.uk
University of Strathclyde and Associates: Abstract. The introduction of smartcard technologies has reduced the incidence of card fraud in the UK, but there are still significant losses from fraudulent card use. In this paper we detail the context of smartcard introduction and describe the types of fraud that remain a threat to cardholders and other stakeholders in the card system. We conclude with a risk analysis from the cardholder’s perspective and recommend greater cardholder awareness of such risks.
University of Strathclyde and Associates: Introduction. A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment cards (Chip and PIN cards) were introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions. By the end of 2005, more than 107 million of the 141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in 2006 (Figure 1). The reduction has been widely attributed to the rollout of smart cards with Chip and PIN authentication.
If the media is to be believed, the UK introduction of Chip and PIN authentication for credit and debit card transactions is flawed and has failed to reduce levels of card fraud across the board. Specific cases highlighting the security implications of smart card based technology have been widely reported, including exploits at Shell petrol stations [4] and Tesco self-service tills.
As cards are a widely accepted international form of payment, fraud can happen virtually anywhere in the world or on the Internet. Cards can be compromised in the UK and then used overseas. Cardwatch research shows that most of the fraud committed abroad on UK cards affects cards that have been compromised in the UK
Although the financial cost of card fraud is largely borne by the banking industry, the cardholder experiences loss of time in taking steps to resolve matters, as well as inconvenience, worry and frustration while a fraudulent incident is investigated. The cardholder’s credit rating can be affected and the whole affair can be a distressing experience.
University of Strathclyde and Associates: Abstract. The introduction of smartcard technologies has reduced the incidence of card fraud in the UK, but there are still significant losses from fraudulent card use. In this paper we detail the context of smartcard introduction and describe the types of fraud that remain a threat to cardholders and other stakeholders in the card system. We conclude with a risk analysis from the cardholder’s perspective and recommend greater cardholder awareness of such risks.
University of Strathclyde and Associates: Introduction. A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment cards (Chip and PIN cards) were introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions. By the end of 2005, more than 107 million of the 141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in 2006 (Figure 1). The reduction has been widely attributed to the rollout of smart cards with Chip and PIN authentication.
If the media is to be believed, the UK introduction of Chip and PIN authentication for credit and debit card transactions is flawed and has failed to reduce levels of card fraud across the board. Specific cases highlighting the security implications of smart card based technology have been widely reported, including exploits at Shell petrol stations [4] and Tesco self-service tills.
As cards are a widely accepted international form of payment, fraud can happen virtually anywhere in the world or on the Internet. Cards can be compromised in the UK and then used overseas. Cardwatch research shows that most of the fraud committed abroad on UK cards affects cards that have been compromised in the UK
Although the financial cost of card fraud is largely borne by the banking industry, the cardholder experiences loss of time in taking steps to resolve matters, as well as inconvenience, worry and frustration while a fraudulent incident is investigated. The cardholder’s credit rating can be affected and the whole affair can be a distressing experience.
Strathclyde University and Associates: Boiler Room Movie Review
The Digital Information Office, Strathclyde University and Associates service for electronic resource management review by Bradley Null: America is the land of opportunity, and now more than ever, the opportunity that most Americans are preoccupied with is that of easy money. Our news media is saturated with stories of the instant millionaire, 25-year-old startup CEOs worth nine figures or the crafty investor that bought that startup on IPO and doesn't have to worry too much about his day job anymore either. There are a number of powerful cautionary tales waiting to be drawn from this unwholesome frenzy. Boiler Room tries to tell one of these stories, but sadly it fails to add much to the greed genre established by its two heavily referenced predecessors: Wall Street (1987) and Glengarry Glen Ross (1992).
Boiler Room is the story of Seth (Ribisi), a 19-year-old college dropout obsessed with the American dream of easy money. After concluding rather quickly that college isn't necessarily the fast track to a quick buck, he opens up an underground casino out of his house in Queens, providing a popular service for the local city college kids. After his disapproving father (Rifkin) finds out about the casino, Seth, feeling a repressed need to gain his father's approval, looks into an opportunity to become a stockbroker at the small firm of J.T. Marlin.
As it turns out, the firm, located in the heart of Long Island, conspicuously far from Wall Street, is a 'chop shop,' shorthand for a brokerage house more interested in pawning off securities for its own interests rather than serving its customers. When Seth's father discovers this, not only does Seth not find the approval he was hoping for, but he is excommunicated from the family.
Though he has only a minor part in the film, Ben Affleck is highlighted in trailers for the film, and the discerning observer will notice a strong similarity between his scene in the trailer, and Alec Baldwin's immortalized portrayal of a real estate shark in Glengarry Glen Ross. In fact, Affleck's big scene draws heavily on Baldwin's, though his performance (and the material he has to work with) does not live up to what is almost universally agreed upon as the best performance of Baldwin's career. This is not the only referencing of David Mamet's portrayal of the dark world of real estate cold-calling in this movie, however. Later in the film, when receiving some instructions on how to cold-call potential customers, Seth is told to remember one of Baldwin's catch phrases from that scene, 'A-B-C. Always Be Closing.' Boiler Room also liberally references, both directly and indirectly, its direct predecessor in the 'greed is good' category of filmmaking. Not only drawing its basic theme and plot structure from Wall Street, Boiler Room also draws its best dialogue during a scene in which a number of young stock brokers sitting in one of their sparely decorated mansions, compete with each other to quote lines from Wall Street, whose antagonist, Gordon Gecko, is obviously regarded as an idol within the group.
As a movie, Boiler Room is moderately entertaining. Vin Diesel in particular, off a strong turn in Saving Private Ryan, turns in another powerful performance as Chris, one of Seth's mentors at J.T. Marlin. Sadly though, Ben Younger, in his writing and directorial debut, adds very little to the filmic pantheon in his own voice. Even the film's most prolific statement on the American obsession with getting rich, 'either you're slinging crack rock or you've got a wicked jump shot,' is a quote of the rap star Notorious B.I.G. The most admirable outcome of this film might be that it leads viewers to check out its two predecessors. I would urge the same as well.
Boiler Room is the story of Seth (Ribisi), a 19-year-old college dropout obsessed with the American dream of easy money. After concluding rather quickly that college isn't necessarily the fast track to a quick buck, he opens up an underground casino out of his house in Queens, providing a popular service for the local city college kids. After his disapproving father (Rifkin) finds out about the casino, Seth, feeling a repressed need to gain his father's approval, looks into an opportunity to become a stockbroker at the small firm of J.T. Marlin.
As it turns out, the firm, located in the heart of Long Island, conspicuously far from Wall Street, is a 'chop shop,' shorthand for a brokerage house more interested in pawning off securities for its own interests rather than serving its customers. When Seth's father discovers this, not only does Seth not find the approval he was hoping for, but he is excommunicated from the family.
Though he has only a minor part in the film, Ben Affleck is highlighted in trailers for the film, and the discerning observer will notice a strong similarity between his scene in the trailer, and Alec Baldwin's immortalized portrayal of a real estate shark in Glengarry Glen Ross. In fact, Affleck's big scene draws heavily on Baldwin's, though his performance (and the material he has to work with) does not live up to what is almost universally agreed upon as the best performance of Baldwin's career. This is not the only referencing of David Mamet's portrayal of the dark world of real estate cold-calling in this movie, however. Later in the film, when receiving some instructions on how to cold-call potential customers, Seth is told to remember one of Baldwin's catch phrases from that scene, 'A-B-C. Always Be Closing.' Boiler Room also liberally references, both directly and indirectly, its direct predecessor in the 'greed is good' category of filmmaking. Not only drawing its basic theme and plot structure from Wall Street, Boiler Room also draws its best dialogue during a scene in which a number of young stock brokers sitting in one of their sparely decorated mansions, compete with each other to quote lines from Wall Street, whose antagonist, Gordon Gecko, is obviously regarded as an idol within the group.
As a movie, Boiler Room is moderately entertaining. Vin Diesel in particular, off a strong turn in Saving Private Ryan, turns in another powerful performance as Chris, one of Seth's mentors at J.T. Marlin. Sadly though, Ben Younger, in his writing and directorial debut, adds very little to the filmic pantheon in his own voice. Even the film's most prolific statement on the American obsession with getting rich, 'either you're slinging crack rock or you've got a wicked jump shot,' is a quote of the rap star Notorious B.I.G. The most admirable outcome of this film might be that it leads viewers to check out its two predecessors. I would urge the same as well.
Trends in Smartcard fraud Warning– Abstract: University of Strathclyde and Associates
Susan Burns, George R. S. Weir, Department of Computer and Information Sciences, University of Strathclyde, Glasgow G1 1XH, UK {susan.burns, george.weir}@cis.strath.ac.uk
University of Strathclyde and Associates: Abstract. The introduction of smartcard technologies has reduced the incidence of card fraud in the UK, but there are still significant losses from fraudulent card use. In this paper we detail the context of smartcard introduction and describe the types of fraud that remain a threat to cardholders and other stakeholders in the card system. We conclude with a risk analysis from the cardholder’s perspective and recommend greater cardholder awareness of such risks.
University of Strathclyde and Associates: Introduction. A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment cards (Chip and PIN cards) were introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions. By the end of 2005, more than 107 million of the 141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in 2006 (Figure 1). The reduction has been widely attributed to the rollout of smart cards with Chip and PIN authentication.
If the media is to be believed, the UK introduction of Chip and PIN authentication for credit and debit card transactions is flawed and has failed to reduce levels of card fraud across the board. Specific cases highlighting the security implications of smart card based technology have been widely reported, including exploits at Shell petrol stations [4] and Tesco self-service tills.
As cards are a widely accepted international form of payment, fraud can happen virtually anywhere in the world or on the Internet. Cards can be compromised in the UK and then used overseas. Cardwatch research shows that most of the fraud committed abroad on UK cards affects cards that have been compromised in the UK
Although the financial cost of card fraud is largely borne by the banking industry, the cardholder experiences loss of time in taking steps to resolve matters, as well as inconvenience, worry and frustration while a fraudulent incident is investigated. The cardholder’s credit rating can be affected and the whole affair can be a distressing experience.
University of Strathclyde and Associates: Abstract. The introduction of smartcard technologies has reduced the incidence of card fraud in the UK, but there are still significant losses from fraudulent card use. In this paper we detail the context of smartcard introduction and describe the types of fraud that remain a threat to cardholders and other stakeholders in the card system. We conclude with a risk analysis from the cardholder’s perspective and recommend greater cardholder awareness of such risks.
University of Strathclyde and Associates: Introduction. A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment cards (Chip and PIN cards) were introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions. By the end of 2005, more than 107 million of the 141.6 million cards in the UK had been upgraded to smart cards [2]. Levels of plastic card fraud fell by 13% to £439.4 million in 2005 [3] and again to £428 million in 2006 (Figure 1). The reduction has been widely attributed to the rollout of smart cards with Chip and PIN authentication.
If the media is to be believed, the UK introduction of Chip and PIN authentication for credit and debit card transactions is flawed and has failed to reduce levels of card fraud across the board. Specific cases highlighting the security implications of smart card based technology have been widely reported, including exploits at Shell petrol stations [4] and Tesco self-service tills.
As cards are a widely accepted international form of payment, fraud can happen virtually anywhere in the world or on the Internet. Cards can be compromised in the UK and then used overseas. Cardwatch research shows that most of the fraud committed abroad on UK cards affects cards that have been compromised in the UK
Although the financial cost of card fraud is largely borne by the banking industry, the cardholder experiences loss of time in taking steps to resolve matters, as well as inconvenience, worry and frustration while a fraudulent incident is investigated. The cardholder’s credit rating can be affected and the whole affair can be a distressing experience.
Thursday, 3 March 2011
Strathclyde University and Associates: Virus Scam Warnings And Other Hoaxes
If you receive a 'virus or a scam warning' in your email, the first and only action you should take is to forward it to the Helpdesk, maybe copy the message to your Departmental Computing Officer, and await advice. We will check it out, and let you know if it is a genuine threat, whether anyone in the University is at risk, and whether we need to issue a general alert.
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - Do not forward it to everyone you know. If this warning did not come from your recognised IT support people (IT Services or your Departmental Computing Officer), then the chances are extremely high that it is a hoax. This is especially likely to be true if the mail was forwarded by a friend, even if they "know about these things".
Spotting Virus Hoaxes
Virus hoaxes are actually fairly easy to spot, once you've seen a few of them. They all use pretty much the same sort of language, lots of use of CAPITALS, usually mention some major IT company you've heard of (e.g., IBM, Microsoft, AOL) or some government, and almost always advise you to "pass it on to AS MANY PEOPLE AS YOU KNOW". They often refer to dire consequences such as the destruction of "EVERYTHING on your hard drive". You can find out more about the characteristics of virus hoaxes at:
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - CIAC Internet Hoax Information: How To Identify A Hoax
Unless you're extremely unlucky, they first people who will receive information about new, real viruses are the virus vendors and the various organisations concerned with Internet security. These are the people who will send out alerts to relevant mailing lists, and put information about the viruses on their web pages. They won't mail "everyone on the Internet" to inform them about the virus. If you've asked to be kept informed about virus threats by registering on an email distribution list, then you will probably receive mail from them. If you haven't, and you receive mail about a virus purporting to be from an anti-virus software vendor, and it hasn't been forwarded by a friend or associate, then be extremely suspicious.
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - Other Hoaxes: More commonly seen now are other types of hoaxes; so-called 'phishing' attempts (messages from a bank or other financial site, asking you to confirm your identity and login details) and 419 scams (messages on behalf of the relatives of dead but rich people, often in unstable African states, who need assistance in transferring money out of their country).
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - Do not forward it to everyone you know. If this warning did not come from your recognised IT support people (IT Services or your Departmental Computing Officer), then the chances are extremely high that it is a hoax. This is especially likely to be true if the mail was forwarded by a friend, even if they "know about these things".
Spotting Virus Hoaxes
Virus hoaxes are actually fairly easy to spot, once you've seen a few of them. They all use pretty much the same sort of language, lots of use of CAPITALS, usually mention some major IT company you've heard of (e.g., IBM, Microsoft, AOL) or some government, and almost always advise you to "pass it on to AS MANY PEOPLE AS YOU KNOW". They often refer to dire consequences such as the destruction of "EVERYTHING on your hard drive". You can find out more about the characteristics of virus hoaxes at:
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - CIAC Internet Hoax Information: How To Identify A Hoax
Unless you're extremely unlucky, they first people who will receive information about new, real viruses are the virus vendors and the various organisations concerned with Internet security. These are the people who will send out alerts to relevant mailing lists, and put information about the viruses on their web pages. They won't mail "everyone on the Internet" to inform them about the virus. If you've asked to be kept informed about virus threats by registering on an email distribution list, then you will probably receive mail from them. If you haven't, and you receive mail about a virus purporting to be from an anti-virus software vendor, and it hasn't been forwarded by a friend or associate, then be extremely suspicious.
Strathclyde University and Associates: Guidelines For Dealing With Virus Warnings And Other Hoaxes - Other Hoaxes: More commonly seen now are other types of hoaxes; so-called 'phishing' attempts (messages from a bank or other financial site, asking you to confirm your identity and login details) and 419 scams (messages on behalf of the relatives of dead but rich people, often in unstable African states, who need assistance in transferring money out of their country).
Strathclyde University and Associates: New Faces at SESG
We have seen big changes at SESG over the past few months. Meet the new team!
Strathclyde University and Associates: Dr Jeremy Cockroft took over as director of SESG at the beginning of April 2006. He is supported by Dr Jon Hand and Dr Aizaz Samuel. We have a vacancy that we hope to fill soon. Here is a brief resume of the people now in the group: Jon has had experience as a practicing architect specializing in low energy buildings and alternative construction techniques. He is a simulation consultant in several continents, a software developer, and a mentor to companies embedding computational support for the design process. He possesses a particular aptitude for identifying simulation quality assurance weaknesses and developing improvement programmes for building design practitioners.
Strathclyde University and Associates: Aizaz has a background in advanced energy conservation measures. He is also an expert on modelling contaminant distribution in the indoor air quality field, using both network airflow and computational fluid dynamic modelling techniques. Jeremy was deeply involved in the early years of energy and air flow modelling, subsequently was a product development manager and business unit leader in the building controls industry, before returning to academia to support energy related consultancy services within the ESRU group. On taking over as Director of SESG, Jeremy said “When I think back to the pioneering days of building energy modelling and simulation, not so many years ago, the idea of building design practitioners using modeling software on a routine basis was a distant dream. Now we see these tools being used as an integral step in achieving building regulation compliance, which is an extraordinary achievement for the modelling community and those building designers who pioneered the use of these tools in their practice. But we have to keep moving forward; the modelling challenges are always with us. Now we face the need to look beyond just the building fabric and plant systems, and consider how energy flows interact at a community level, with increasing integration of renewable energy generation and interactions between fluctuating supplies and demands to manage the overall energy system balance. Scotland is ideally positioned as a renewable energy powerhouse, surrounded as we are with wind, wave and hydro resources to exploit, so we see our supporting role continuing to add value to the Scottish building design community as they develop new performance assessment services based on computational modeling technologies. Whilst we will continue to promote our seminar programme, I will be putting much more emphasis on direct engagement; getting out there and providing member with one-to-one support in achieving their goals. And I hope members won’t be slow in coming forward when they want us to assist them; after all, it is all free!”
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Strathclyde University and Associates: Dr Jeremy Cockroft took over as director of SESG at the beginning of April 2006. He is supported by Dr Jon Hand and Dr Aizaz Samuel. We have a vacancy that we hope to fill soon. Here is a brief resume of the people now in the group: Jon has had experience as a practicing architect specializing in low energy buildings and alternative construction techniques. He is a simulation consultant in several continents, a software developer, and a mentor to companies embedding computational support for the design process. He possesses a particular aptitude for identifying simulation quality assurance weaknesses and developing improvement programmes for building design practitioners.
Strathclyde University and Associates: Aizaz has a background in advanced energy conservation measures. He is also an expert on modelling contaminant distribution in the indoor air quality field, using both network airflow and computational fluid dynamic modelling techniques. Jeremy was deeply involved in the early years of energy and air flow modelling, subsequently was a product development manager and business unit leader in the building controls industry, before returning to academia to support energy related consultancy services within the ESRU group. On taking over as Director of SESG, Jeremy said “When I think back to the pioneering days of building energy modelling and simulation, not so many years ago, the idea of building design practitioners using modeling software on a routine basis was a distant dream. Now we see these tools being used as an integral step in achieving building regulation compliance, which is an extraordinary achievement for the modelling community and those building designers who pioneered the use of these tools in their practice. But we have to keep moving forward; the modelling challenges are always with us. Now we face the need to look beyond just the building fabric and plant systems, and consider how energy flows interact at a community level, with increasing integration of renewable energy generation and interactions between fluctuating supplies and demands to manage the overall energy system balance. Scotland is ideally positioned as a renewable energy powerhouse, surrounded as we are with wind, wave and hydro resources to exploit, so we see our supporting role continuing to add value to the Scottish building design community as they develop new performance assessment services based on computational modeling technologies. Whilst we will continue to promote our seminar programme, I will be putting much more emphasis on direct engagement; getting out there and providing member with one-to-one support in achieving their goals. And I hope members won’t be slow in coming forward when they want us to assist them; after all, it is all free!”
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Strathclyde University and Associates: Scottish Energy Systems Group
A NEW FOCUS ON QUALITY: The building regulations update away back in 2002 introduced new flexibility into how compliance could be demonstrated. The novel carbon emissions based alternative offered a whole building approach to achieving targets compared to the prescriptive elemental approach which until then had been the only route. It occurred to many building design practitioners that traditional manual design calculation methods would not allow these opportunities to be fully explored.
Strathclyde University and Associates: Scottish Energy Systems Group: Dynamic computer modelling and simulation tools obviously could have a part to play, but where to start? What computational tool to use? What about hardware requirements, recruitment, training? Thus the Scottish Energy Systems Group was established, with funding from The Scottish Executive and Strathclyde European Partnership, to provide guidance and support to the industry. The objective was to give the Scottish building design community a head start in producing a better quality of building design, incorporating more innovation and new ideas, and with confidence that the solution would work as intended.
Strathclyde University and Associates: Scottish Energy Systems Group: Four years on, and a whole new set of regulations are being introduced, with target carbon emissions the only route to compliance. Now computer modelling is an almost indispensable tool for design evaluation, and indeed is becoming an integral part of the route to compliance (see article on New Building Regulations). Most of our members are using one of the various packages available, or at least have explored the possibilities via consultancy partnerships.
So what else is there to do?
Our philosophy from the outset has been total engagement with our members. That means not just putting on seminars and technology introduction workshops, valuable activities in themselves, but also getting out into members’ offices and working on real projects, setting up the technology within their working environment, even lending them the necessary hardware.
Strathclyde University and Associates: Scottish Energy Systems Group: Some members could now be described as pioneers; real leaders in the use of dynamic modelling tools applied to building systems design. Others have had a go, but things have fallen by the wayside, because in adopting the technology they did not adopt an integrated process to go with it. The focus was all on the tool, rather than on how modelling would fit into the overall design process. Starting up an airline is more than just deciding which aircraft to fly. Likewise, there is a lot more to consider in establishing building energy modelling than just which particular software package to go for. That is why, in this issue of HotNews, we are focussing on Quality Assurance (see article “Quality Assurance process for building modelling”). We want members to take a step back and look at how they are using their modelling tools. A good starting point would be to conduct an audit. And where to turn to for help with that? SESG of course! Even if you think you don’t have a problem, a half day of free, on-site consultancy could give you the reassurance you need. If you want to use modelling tools to develop Part L compliant designs, your modelling capabilities will be mission critical (in Scotland it will be Section 6, and a different route to compliance is being developed). We will continue to support this core service (we call it Supported Technology Deployment) with seminars on topical subjects (see the events section) which are often followed up by a technology introduction workshop that allows members to try out various computational approaches for themselves, and even to explore solutions to real live projects, with on-hand support from SESG staff. We will always seek to involve the “pioneers” in such events; they can relate the practicalities of reconciling business-as-usual with new ways of doing things. The usual pattern is that after attending a seminar, say on renewable technologies, a member sees benefits in being able to model, for example, building integrated renewables, and so attends a technology introduction workshop, led by an expert in the field. The next step is for the member to invite SESG staff to come to their office, help with installation of the software, ensure that quality assurance issues are dealt with, and leave the member up and running with a new capability, with occasional follow up sessions as required.
Strathclyde University and Associates: Scottish Energy Systems Group: If you are a Scotland based building design practitioner, installer or manufacturer, no matter how small your organisation might be, you can benefit from this service. How? Very simply, by becoming a member. A simple audit of your current process or evaluation of your needs will start you off, and we will further support you as you move to adopt your chosen packages and integrate their use into your practice. If your needs could be met through a development effort, we may be able to do that for you too. If you would like to have a chat about joining, please contact us at: Jeremy@sesg.strath.ac.uk,
0141 548 5765.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Strathclyde University and Associates: Scottish Energy Systems Group: Dynamic computer modelling and simulation tools obviously could have a part to play, but where to start? What computational tool to use? What about hardware requirements, recruitment, training? Thus the Scottish Energy Systems Group was established, with funding from The Scottish Executive and Strathclyde European Partnership, to provide guidance and support to the industry. The objective was to give the Scottish building design community a head start in producing a better quality of building design, incorporating more innovation and new ideas, and with confidence that the solution would work as intended.
Strathclyde University and Associates: Scottish Energy Systems Group: Four years on, and a whole new set of regulations are being introduced, with target carbon emissions the only route to compliance. Now computer modelling is an almost indispensable tool for design evaluation, and indeed is becoming an integral part of the route to compliance (see article on New Building Regulations). Most of our members are using one of the various packages available, or at least have explored the possibilities via consultancy partnerships.
So what else is there to do?
Our philosophy from the outset has been total engagement with our members. That means not just putting on seminars and technology introduction workshops, valuable activities in themselves, but also getting out into members’ offices and working on real projects, setting up the technology within their working environment, even lending them the necessary hardware.
Strathclyde University and Associates: Scottish Energy Systems Group: Some members could now be described as pioneers; real leaders in the use of dynamic modelling tools applied to building systems design. Others have had a go, but things have fallen by the wayside, because in adopting the technology they did not adopt an integrated process to go with it. The focus was all on the tool, rather than on how modelling would fit into the overall design process. Starting up an airline is more than just deciding which aircraft to fly. Likewise, there is a lot more to consider in establishing building energy modelling than just which particular software package to go for. That is why, in this issue of HotNews, we are focussing on Quality Assurance (see article “Quality Assurance process for building modelling”). We want members to take a step back and look at how they are using their modelling tools. A good starting point would be to conduct an audit. And where to turn to for help with that? SESG of course! Even if you think you don’t have a problem, a half day of free, on-site consultancy could give you the reassurance you need. If you want to use modelling tools to develop Part L compliant designs, your modelling capabilities will be mission critical (in Scotland it will be Section 6, and a different route to compliance is being developed). We will continue to support this core service (we call it Supported Technology Deployment) with seminars on topical subjects (see the events section) which are often followed up by a technology introduction workshop that allows members to try out various computational approaches for themselves, and even to explore solutions to real live projects, with on-hand support from SESG staff. We will always seek to involve the “pioneers” in such events; they can relate the practicalities of reconciling business-as-usual with new ways of doing things. The usual pattern is that after attending a seminar, say on renewable technologies, a member sees benefits in being able to model, for example, building integrated renewables, and so attends a technology introduction workshop, led by an expert in the field. The next step is for the member to invite SESG staff to come to their office, help with installation of the software, ensure that quality assurance issues are dealt with, and leave the member up and running with a new capability, with occasional follow up sessions as required.
Strathclyde University and Associates: Scottish Energy Systems Group: If you are a Scotland based building design practitioner, installer or manufacturer, no matter how small your organisation might be, you can benefit from this service. How? Very simply, by becoming a member. A simple audit of your current process or evaluation of your needs will start you off, and we will further support you as you move to adopt your chosen packages and integrate their use into your practice. If your needs could be met through a development effort, we may be able to do that for you too. If you would like to have a chat about joining, please contact us at: Jeremy@sesg.strath.ac.uk,
0141 548 5765.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Thursday, 17 February 2011
University of Strathclyde and Associates: Publications
University of Strathclyde and Associates: Publications: Scottish Chambers' Business Survey
The quarterly survey, produced in conjunction with the Scottish Chambers of Commerce, provides aggregated information by area and by sector on the general business and labour market situation of some 3,000 Scottish firms. The survey currently covers Scottish manufacturing, construction, wholesale, retail and tourism. A further report based on a quarterly survey of the Scottish oil and gas related sector, and conducted in collaboration with the Institute, is published by Aberdeen and Grampian Chamber of Commerce.
University of Strathclyde and Associates: Publications: Customised Research
The Institute has completed a wide range of customised reports for public and private sector organisations within Scotland and beyond. Using a range of economic analysis tools these reports have ranged from reports on the impact of the Foot and Mouth outbreak on Scotland's economy, an impact study of Jersey's economy upon its environment and the impact of the arts and cultural sector in Scotland.
In addition, Institute staff have acted as advisers to both Westminster and Holyrood committees, public bodies and foreign governments.
University of Strathclyde and Associates: Publications: Raising the Return
The Institute, jointly with the Scottish Council Foundation, has released 'Raising the Return: Scotland's Public Assets'. The report, by economic consultant and Institute Associate Jo Armstrong consists of four short papers and examines the evidence on how effective Scotland's public sector has been in deploying the record-levels of funding it has received. A full press release is available from the media section of the website. Copies of the report, priced fifteen pounds, can be obtained from the Scottish Council Foundation.
University of Strathclyde and Associates: Publications: Major new addition to thinking on Scotland's future
New Wealth for Old Nations provides a guide to policy priorities in small or regional economies. It will be of interest to policymakers, students, and scholars seeking avenues to improved growth, greater opportunity, and better governance. Some of the world's leading economists combine their research insights with a discussion of the practicalities of implementing structural reforms. Scotland is the ideal case study: the recent devolution of government in the United Kingdom offers a natural experiment in political economy, one whose lessons apply to almost any small, advanced economy.
One fundamental conclusion is that policy can make a big difference to long-term prosperity in small economies open to flows of knowledge, investment, and migrants. Indeed the difficulty in introducing growth-oriented policies lies more in the politics of implementing change than in the theoretical diagnosis. Public sector governance is consequently a key issue in creating a pro-growth consensus. And faster growth must be seen to improve opportunities for the population as a whole. Further, setting out the evidence - as this book does for Scotland - is vital to overcoming entrenched institutional barriers to policy reform. The first chapter is by Jo Armstrong, John McLaren, and the editors; and the subsequent chapters are by Paul Krugman, William Baumol, Edward Glaeser, Paul Hallwood and Ronald MacDonald, James Heckman and Dimitriy Masterov, Heather Joshi and Robert Wright, Nicholas Crafts, and John Bradley.
Diane Coyle is a consultant and member of the United Kingdom's Competition Commission and a Visiting Professor at the University of Manchester's Institute of Political and Economic Governance. Wendy Alexander is a Member of the Scottish Parliament and former Scottish Minister for Enterprise, Transport, and Lifelong Learning. Brian Ashcroft is Professor of Economics and Policy Director of the Fraser of Allander Institute for Research on the Scottish Economy at the University of Strathclyde.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
The quarterly survey, produced in conjunction with the Scottish Chambers of Commerce, provides aggregated information by area and by sector on the general business and labour market situation of some 3,000 Scottish firms. The survey currently covers Scottish manufacturing, construction, wholesale, retail and tourism. A further report based on a quarterly survey of the Scottish oil and gas related sector, and conducted in collaboration with the Institute, is published by Aberdeen and Grampian Chamber of Commerce.
University of Strathclyde and Associates: Publications: Customised Research
The Institute has completed a wide range of customised reports for public and private sector organisations within Scotland and beyond. Using a range of economic analysis tools these reports have ranged from reports on the impact of the Foot and Mouth outbreak on Scotland's economy, an impact study of Jersey's economy upon its environment and the impact of the arts and cultural sector in Scotland.
In addition, Institute staff have acted as advisers to both Westminster and Holyrood committees, public bodies and foreign governments.
University of Strathclyde and Associates: Publications: Raising the Return
The Institute, jointly with the Scottish Council Foundation, has released 'Raising the Return: Scotland's Public Assets'. The report, by economic consultant and Institute Associate Jo Armstrong consists of four short papers and examines the evidence on how effective Scotland's public sector has been in deploying the record-levels of funding it has received. A full press release is available from the media section of the website. Copies of the report, priced fifteen pounds, can be obtained from the Scottish Council Foundation.
University of Strathclyde and Associates: Publications: Major new addition to thinking on Scotland's future
New Wealth for Old Nations provides a guide to policy priorities in small or regional economies. It will be of interest to policymakers, students, and scholars seeking avenues to improved growth, greater opportunity, and better governance. Some of the world's leading economists combine their research insights with a discussion of the practicalities of implementing structural reforms. Scotland is the ideal case study: the recent devolution of government in the United Kingdom offers a natural experiment in political economy, one whose lessons apply to almost any small, advanced economy.
One fundamental conclusion is that policy can make a big difference to long-term prosperity in small economies open to flows of knowledge, investment, and migrants. Indeed the difficulty in introducing growth-oriented policies lies more in the politics of implementing change than in the theoretical diagnosis. Public sector governance is consequently a key issue in creating a pro-growth consensus. And faster growth must be seen to improve opportunities for the population as a whole. Further, setting out the evidence - as this book does for Scotland - is vital to overcoming entrenched institutional barriers to policy reform. The first chapter is by Jo Armstrong, John McLaren, and the editors; and the subsequent chapters are by Paul Krugman, William Baumol, Edward Glaeser, Paul Hallwood and Ronald MacDonald, James Heckman and Dimitriy Masterov, Heather Joshi and Robert Wright, Nicholas Crafts, and John Bradley.
Diane Coyle is a consultant and member of the United Kingdom's Competition Commission and a Visiting Professor at the University of Manchester's Institute of Political and Economic Governance. Wendy Alexander is a Member of the Scottish Parliament and former Scottish Minister for Enterprise, Transport, and Lifelong Learning. Brian Ashcroft is Professor of Economics and Policy Director of the Fraser of Allander Institute for Research on the Scottish Economy at the University of Strathclyde.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Strathclyde University SCER Associates Part 2
Professor Ewart Keep. ESRC Centre on Skills, Knowledge and Organisational Performance (SKOPE). Professor Ewart Keep’s research interests include the links between skills and economic performance (broadly defined), the education and training policy formation process, employers’ perceptions of training and the factors that influence their willingness to invest in skills, 14-19 vocational education and training, higher education policy and the graduate labour market, lifelong learning, and the linkages between skills and people management issues.
Dr Scott Hurrell. University of Stirling. Scott Hurrell has recently been appointed to a lectureship in Work and Employment Studies in the Institute of Socio- Management at the University of Stirling, having previously worked in SCER and latterly at Aston University. One of Scott's main research interests is in the area of skills and work organisation with his PhD thesis examining soft skills deficits in Scotland, why these occurred and how employers responded to these. Scott also has interests in recruitment and selection, job quality and in organisations in the interactive service, public and non-profit sectors. Scott has worked with policy and public sector bodies including Futureskills Scotland, The Scottish Government, The Scottish Council for Voluntary Organisations and the Equal Opportunities Commission (Scotland).
Dr Henrietta Huzzell. University of Karlstad. Professor Jeff Hyman. University of Aberdeen. Professor Jeff Hyman has a long-standing research interest in the ways in which employees participate in decisions made at work and the effects of their involvement in terms of employee satisfaction, relations with managers and performance. Employee share schemes have provided a focus for this interest. In the past few years, he has also been involved in research exploring new directions in work, exploring concepts and practice of work-life balance in sectors such as finance, software and in call centres with a particular emphasis on developments in Scotland where these sectors have become dominant areas for employment and for the local economy.
Professor Csaba Mako. Hungarian Academy of Sciences . Csaba Makó is specialized in organizational changes (innovations), learning organisation and in their institutional (eg labour relations) contexts in an international perspective. He received Academic Doctors’ Title in Sociology (1983). Presently, he has a position as a Research Director at the Institute of Sociology – Hungarian Academy of Sciences and involved in numerous national and international projects. Some of the recent international projects:
Beside research responsibilities, Csaba Makó has full time professorship at the Debrecen University – Department of Economics and is a head of the Ph.D. School in Economics (since: 2004).
Dr Steve Paton. University of Strathclyde. Steve’s research addresses the nature of contemporary work focusing on the areas of knowledge in work and the management of the knowledge resources of the firm. Current activity is primarily focused on the generation of operational strategies of organizations and their attempts to create competitive advantage by increasing their activity in the areas of creative work and innovation and expanding their service provision and therefore moving up the value chain. Steve has published in the areas of change management and the management of knowledge work.
Dr Diane van de Broek. University of Sydney. Diane van den Broek's research and publishing interests relate to management and labour process issues within the service economy, most recently this has involved the changing relationships around technology, professionalism and deskilling within call centres. She has also been involved in an international study, in collaboration with researchers in Scotland and Sweden researchers on aesthetic labour in the retail industry. Two other projects Diane is working on include the matching of graduate attributes with employability, and variations around occupational identity.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Dr Scott Hurrell. University of Stirling. Scott Hurrell has recently been appointed to a lectureship in Work and Employment Studies in the Institute of Socio- Management at the University of Stirling, having previously worked in SCER and latterly at Aston University. One of Scott's main research interests is in the area of skills and work organisation with his PhD thesis examining soft skills deficits in Scotland, why these occurred and how employers responded to these. Scott also has interests in recruitment and selection, job quality and in organisations in the interactive service, public and non-profit sectors. Scott has worked with policy and public sector bodies including Futureskills Scotland, The Scottish Government, The Scottish Council for Voluntary Organisations and the Equal Opportunities Commission (Scotland).
Dr Henrietta Huzzell. University of Karlstad. Professor Jeff Hyman. University of Aberdeen. Professor Jeff Hyman has a long-standing research interest in the ways in which employees participate in decisions made at work and the effects of their involvement in terms of employee satisfaction, relations with managers and performance. Employee share schemes have provided a focus for this interest. In the past few years, he has also been involved in research exploring new directions in work, exploring concepts and practice of work-life balance in sectors such as finance, software and in call centres with a particular emphasis on developments in Scotland where these sectors have become dominant areas for employment and for the local economy.
Professor Csaba Mako. Hungarian Academy of Sciences . Csaba Makó is specialized in organizational changes (innovations), learning organisation and in their institutional (eg labour relations) contexts in an international perspective. He received Academic Doctors’ Title in Sociology (1983). Presently, he has a position as a Research Director at the Institute of Sociology – Hungarian Academy of Sciences and involved in numerous national and international projects. Some of the recent international projects:
Beside research responsibilities, Csaba Makó has full time professorship at the Debrecen University – Department of Economics and is a head of the Ph.D. School in Economics (since: 2004).
Dr Steve Paton. University of Strathclyde. Steve’s research addresses the nature of contemporary work focusing on the areas of knowledge in work and the management of the knowledge resources of the firm. Current activity is primarily focused on the generation of operational strategies of organizations and their attempts to create competitive advantage by increasing their activity in the areas of creative work and innovation and expanding their service provision and therefore moving up the value chain. Steve has published in the areas of change management and the management of knowledge work.
Dr Diane van de Broek. University of Sydney. Diane van den Broek's research and publishing interests relate to management and labour process issues within the service economy, most recently this has involved the changing relationships around technology, professionalism and deskilling within call centres. She has also been involved in an international study, in collaboration with researchers in Scotland and Sweden researchers on aesthetic labour in the retail industry. Two other projects Diane is working on include the matching of graduate attributes with employability, and variations around occupational identity.
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Strathclyde University SCER Associates Part 1
Professor Tom Baum. University of Strathclyde. Tom Baum's research focuses on people and work in low skills service industries, notably the hospitality and tourism sectors. His work considers HR themes both from a macro perspective in terms of planning and structural dimensions and in terms of the inter-face between employyes and customers at the level of the individual enterprise. Tom's work is internationally focused and includes research in a range of European, Asian, African and Pacific region contexts. He has published widely in the field with seven books and over 150 academic papers. He has also consulted with governments, international donor agencies and the private sector and appeared as an expert witness in international arbitration courts.
Professor Sharon Bolton: University of Strathclyde. Sharon C Bolton is Professor of Organisational Analysis at Strathclyde University Business School, Glasgow, UK. Her research interests include emotion in organisations, public sector management, nursing and teaching, gender and the professions, dignity in and at work, the human in human resource management. She is currently working on comparative research on dignity at work in Europe, with a focus on Greece and the UK and also gender, education and knowledge transfer across international boundaries. Sharon continues to be interested in developing more nuanced understandings of emotion at work, and the labour and skill involved in the emotional labour process. Research is published widely in leading international sociology and management journals such as Work, Employment and Society; Sociology; Journal of Management Studies; Gender, Work and Organisation, Sociologia Del Trabajo, Economia & Management and practitioner periodicals such as People Management and Personnel Today. A sole authored book ‘Emotion Management in the Workplace’ was published by Palgrave in 2005 followed by two edited collections in 2007: ‘Searching for the Human in Human Resource Management’ (with Maeve Houlihan) (Palgrave) and ‘Dimensions of Dignity at Work’ (Elsevier) and a new edited collection ‘Work Matters’ (with Maeve Houlihan) published by Palgrave in April 2009.
Dr John Buchanan. University of Sydney.
Dr Asaf Darr. University of Haifa. Asaf Darr studied Organizational Behaviour at the School of Industrial and Labour Relations, Cornell University. He is currently a senior lecturer in Organization Studies at the University of Haifa, and the Head of the Organization Studies program. In addition to many articles, he is the author of Selling Technology: The Changing Shape of Sales in an Information Economy, published in 2006 by Cornell University Press. His current research is on the social fabric of mass markets and on sales work and sales workers.
Doris Eikhof. University of Stirling. Doris Ruth Eikhof is Lecturer in Organization Studies at the Department of Management, University of Stirling, and Research Associate at the Wirtschaftsuniversität Wien, Austria. Her research interests include creative industries, changing forms of work and organization, organizational boundaries, organizations and lifestyles and social theories in organization studies. She has published in international and German academic books and journals, including Journal of Organizational Behavior, Creativity and Innovation Management and edited volumes to be published by Palgrave and Routledge. Recent collaboration with SCeR has included joint publications and editorships, the organization of conference streams for EGOS and ILPC and a comparative project on European football as an employment system.
Dr Richard Hall. University of Sydney. Professor Axel Haunschild. University of Trier. Axel Haunschild is Professor of Work, Employment and Organisation at the University of Trier, Germany. He is also Guest Professor of Human Resource Management at the University of Innsbruck, Austria, and at the School of Management, Royal Holloway, University of London. His research interests focus on changing forms of work and organisation, employment systems in the creative industries, the institutional embeddedness of work and employment, and the boundaries between work and life. He has published in journals such as Human Relations, British Journal of Industrial Relations, International Journal of Human Resource Management, Creativity and Innovation Management and Journal of Organizational Behavior. Recent work with SCER has included the organisation of conference streams (ILPC, EGOS), joint publications and editorships as well a comparative project on national employment systems in professional football
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Professor Sharon Bolton: University of Strathclyde. Sharon C Bolton is Professor of Organisational Analysis at Strathclyde University Business School, Glasgow, UK. Her research interests include emotion in organisations, public sector management, nursing and teaching, gender and the professions, dignity in and at work, the human in human resource management. She is currently working on comparative research on dignity at work in Europe, with a focus on Greece and the UK and also gender, education and knowledge transfer across international boundaries. Sharon continues to be interested in developing more nuanced understandings of emotion at work, and the labour and skill involved in the emotional labour process. Research is published widely in leading international sociology and management journals such as Work, Employment and Society; Sociology; Journal of Management Studies; Gender, Work and Organisation, Sociologia Del Trabajo, Economia & Management and practitioner periodicals such as People Management and Personnel Today. A sole authored book ‘Emotion Management in the Workplace’ was published by Palgrave in 2005 followed by two edited collections in 2007: ‘Searching for the Human in Human Resource Management’ (with Maeve Houlihan) (Palgrave) and ‘Dimensions of Dignity at Work’ (Elsevier) and a new edited collection ‘Work Matters’ (with Maeve Houlihan) published by Palgrave in April 2009.
Dr John Buchanan. University of Sydney.
Dr Asaf Darr. University of Haifa. Asaf Darr studied Organizational Behaviour at the School of Industrial and Labour Relations, Cornell University. He is currently a senior lecturer in Organization Studies at the University of Haifa, and the Head of the Organization Studies program. In addition to many articles, he is the author of Selling Technology: The Changing Shape of Sales in an Information Economy, published in 2006 by Cornell University Press. His current research is on the social fabric of mass markets and on sales work and sales workers.
Doris Eikhof. University of Stirling. Doris Ruth Eikhof is Lecturer in Organization Studies at the Department of Management, University of Stirling, and Research Associate at the Wirtschaftsuniversität Wien, Austria. Her research interests include creative industries, changing forms of work and organization, organizational boundaries, organizations and lifestyles and social theories in organization studies. She has published in international and German academic books and journals, including Journal of Organizational Behavior, Creativity and Innovation Management and edited volumes to be published by Palgrave and Routledge. Recent collaboration with SCeR has included joint publications and editorships, the organization of conference streams for EGOS and ILPC and a comparative project on European football as an employment system.
Dr Richard Hall. University of Sydney. Professor Axel Haunschild. University of Trier. Axel Haunschild is Professor of Work, Employment and Organisation at the University of Trier, Germany. He is also Guest Professor of Human Resource Management at the University of Innsbruck, Austria, and at the School of Management, Royal Holloway, University of London. His research interests focus on changing forms of work and organisation, employment systems in the creative industries, the institutional embeddedness of work and employment, and the boundaries between work and life. He has published in journals such as Human Relations, British Journal of Industrial Relations, International Journal of Human Resource Management, Creativity and Innovation Management and Journal of Organizational Behavior. Recent work with SCER has included the organisation of conference streams (ILPC, EGOS), joint publications and editorships as well a comparative project on national employment systems in professional football
Strathclyde is a great place to study and enjoy life at the same time. And this is where you can find out everything about us - from how we teach, to what's on in Glasgow and how to get around. We want to help you make the most of your time here, so we hope you'll come back to these pages to get all the latest news about what's happening on campus and in and around the city.
Thursday, 3 February 2011
Strathclyde Associates: Our Corporate Profile
Providing services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
At Strathclyde Associates we pride ourselves with comprehending each individual client’s unique financial needs and preferences.
A constant commitment to our clients is the strong foundation of the business culture at Strathclyde Associates.
We constantly develop innovative solutions in order to accommodate the ever-changing tastes, desires and needs of our clients.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
Through the Strathclyde Associates Institutional and Private Clients Divisions we provide our clients with services that include Securities, Investment Banking and Investment Management Services.
Above and beyond we are the first choice for individuals and institutions alike when considering a Premier Wealth Management Company. Excellence in market execution and the provision of the right information at the right price, at the right time has given Strathclyde Associates an enviable worldwide prestige of being able to ensure that our clients achieve their financial objectives and aspirations.
From natural resources to technology our fundamental strengths lie in innovative investment solutions combined with robust execution capabilities. At Strathclyde Associates we pride ourselves with comprehending each individual client’s unique financial needs and preferences.
Owing to the depth and quality of our understanding we construct long term relationships with our clients with a core focus on value creation and an ultimate commitment to helping our clients build and manage their wealth.
This specialized focus, an enviable reputation for quality and integrity and of course strong relationships nurtured with investors have made Strathclyde Associates a worldwide leader in wealth management.
Strathclyde Associates Services: Equity. At Strathclyde Associates Equities we pride ourselves on the knowledge that our Equity Departments are a worldwide leader in the careful planning of investment strategies and capital raising functions in both the private and public equity markets.
Fixed Income. Strathclyde Associates Fixed Income is a global player in ensuring that interest rate currency swaps, debt securities and other derivative products are carefully integrated into our portfolio programs in a manner that accommodates investor preferences and objectives in the ever changing, constantly evolving debt markets.
Foreign Exchange. The Foreign Exchange Market is a 24-hour market and as such Strathclyde Associates provides its clients with a truly round the clock service of spot, forward futures and options trading in all the Forex markets of the world.??Commodities??Risk Management strategies are one of the growing sectors in the market today and as such Strathclyde Associates Commodities now competes in the commodities and derivatives markets providing services in markets which include metals, energy, oil and gas trading to name but a few.
Mergers and Acquisitions. At Strathclyde Associates Mergers and Acquisitions (M&A) department our primary focus is in: Mergers , Joint ventures , Corporate Restructurings , Divestitures , Recapitalizations, Spin-offs , Exchange Offers , Leveraged Buyouts , Shareholder Relations and takeover defenses
Global Capital Markets. Through our Global Capital Markets Departments we can accommodate clients' needs for capital. For instance in the situation of an IPO, a leveraged buyout or a debt offering our global capital markets professionals combine Investment Banking and sales and trading functions to guarantee clients innovative solutions based on sophisticated advice. If necessary our professionals can develop, structure and execute public & private placement of equities, debt and related products. As a major force in the market we offer every assistance to clients to attain the greatest value from each and every stage of a transaction. Thus it is our responsibility to constantly develop capital market solutions to enable clients to rise above whatever the market may throw at them.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
At Strathclyde Associates we pride ourselves with comprehending each individual client’s unique financial needs and preferences.
A constant commitment to our clients is the strong foundation of the business culture at Strathclyde Associates.
We constantly develop innovative solutions in order to accommodate the ever-changing tastes, desires and needs of our clients.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
Through the Strathclyde Associates Institutional and Private Clients Divisions we provide our clients with services that include Securities, Investment Banking and Investment Management Services.
Above and beyond we are the first choice for individuals and institutions alike when considering a Premier Wealth Management Company. Excellence in market execution and the provision of the right information at the right price, at the right time has given Strathclyde Associates an enviable worldwide prestige of being able to ensure that our clients achieve their financial objectives and aspirations.
From natural resources to technology our fundamental strengths lie in innovative investment solutions combined with robust execution capabilities. At Strathclyde Associates we pride ourselves with comprehending each individual client’s unique financial needs and preferences.
Owing to the depth and quality of our understanding we construct long term relationships with our clients with a core focus on value creation and an ultimate commitment to helping our clients build and manage their wealth.
This specialized focus, an enviable reputation for quality and integrity and of course strong relationships nurtured with investors have made Strathclyde Associates a worldwide leader in wealth management.
Strathclyde Associates Services: Equity. At Strathclyde Associates Equities we pride ourselves on the knowledge that our Equity Departments are a worldwide leader in the careful planning of investment strategies and capital raising functions in both the private and public equity markets.
Fixed Income. Strathclyde Associates Fixed Income is a global player in ensuring that interest rate currency swaps, debt securities and other derivative products are carefully integrated into our portfolio programs in a manner that accommodates investor preferences and objectives in the ever changing, constantly evolving debt markets.
Foreign Exchange. The Foreign Exchange Market is a 24-hour market and as such Strathclyde Associates provides its clients with a truly round the clock service of spot, forward futures and options trading in all the Forex markets of the world.??Commodities??Risk Management strategies are one of the growing sectors in the market today and as such Strathclyde Associates Commodities now competes in the commodities and derivatives markets providing services in markets which include metals, energy, oil and gas trading to name but a few.
Mergers and Acquisitions. At Strathclyde Associates Mergers and Acquisitions (M&A) department our primary focus is in: Mergers , Joint ventures , Corporate Restructurings , Divestitures , Recapitalizations, Spin-offs , Exchange Offers , Leveraged Buyouts , Shareholder Relations and takeover defenses
Global Capital Markets. Through our Global Capital Markets Departments we can accommodate clients' needs for capital. For instance in the situation of an IPO, a leveraged buyout or a debt offering our global capital markets professionals combine Investment Banking and sales and trading functions to guarantee clients innovative solutions based on sophisticated advice. If necessary our professionals can develop, structure and execute public & private placement of equities, debt and related products. As a major force in the market we offer every assistance to clients to attain the greatest value from each and every stage of a transaction. Thus it is our responsibility to constantly develop capital market solutions to enable clients to rise above whatever the market may throw at them.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
Strathclyde Associates Investment Guide: Investment Strategy
A well-planned investment strategy is essential before having any investment decisions. A business strategy is generally based upon long run period. Formation of business strategy largely dependent upon the factors such as long-term goals and risk on the investment.
As the return on investment is not always clear, so the investors prepare the strategy so as to face the ongoing challenges in investment. A balanced investment strategy is generally required in the process of investment, which possesses long time period and some risk tolerance.
In the case, when a strategy is aggressive the chance of attaining a higher goal is higher. An efficient strategy can be obtained from portfolio theory, which shows good estimates on risk and return.
Strathclyde Associates Investment Guide: Investment Strategy is usually considered to be more of a branch of finance than economics. It is defined as set of rules, a definite behavior or procedure guiding an investor to choose his investment portfolio. For example, investing in mutual funds has recently emerged as a very favorable investment strategy.
An investment strategy is centered on a risk-return tradeoff for a potential investor. High return investment instruments such as real estate and mutual funds usually have more risks associated with it than low return-low risk investment opportunities. Return on investment can be calculated on past or current investment or on the estimated return on future investment.
Symbolically, it can be expressed as: Vf/Vi -1 where Vf denotes final investment value and Vi is the initial investment value. (“f” and “i” should be noted as subscripts)
Strathclyde Associates Investment Guide: Return on investment (ROI) is profitable when Vf/Vi-1>0 and the investment is deemed to be unprofitable when the value of final investment is less than that of the initial investment. ROI is calculated to be 1 or 100% when the value of the final investment is twice the value of the initial investment.
Types of investment strategies can be defined as follows: A passive investment strategy attempted to minimize transaction costs.
An active investment strategy guide used to maximize returns based on moves such as proper market timing. This usually mean, “buying in the lows and selling in the highs” or buying investment instruments when they are cheap and selling them off when their price appreciates. This strategy, however, is not very beneficial for small time investors.
Small time investors can adopt the buy and hold investment strategy to invest in equities, which although volatile in nature, give favorable long run returns. Investing in equity markets for small time investors is associated with the investors holding on for very long periods. In the case of real estate, the holding period extends the lifespan of the mortgage. Notably, in case of this strategy, indexing or buying a small proportion of all the shares in market index or a mutual fund is a purely passive variant of the above strategy.
The strategy of value investing, a classic investment strategy propagated by Benjamin Graham simply concentrates on the strategy that an investor buys shares of a company as if he was buying off the whole company without paying any attention to the stock market scenario or any exterior conditions such as the political climate. At the end of the day, if he can buy the stock at less than that its actual future worth to the buyer, the person is said to have discovered a “value investment.”
Investment strategies can also denote the investment strategies a national or federal government should follow to bring about economic growth in a country. This can only be achieved by domestic investment as well as significant FDI (Foreign Direct Investment) flows to particular sectors of countries, especially the less developed ones of Asia and Africa.
In case of India, infrastructural problems, excessive government intervention, rigid labor laws and corruption are stifling the flow of FDI in the critical sectors. Less developed countries such as those in the Asia- Pacific region and Africa can bring about much needed development in these economies.
An investment strategy in mutual funds is probably the best bet for a profitable investment. Mutual funds is defined as a pool of money supplied by different investors and in turn used by the mutual fund company to invest in various assets such as stocks and bonds. However, a detailed research has to be conducted for choosing the mutual fund companies and only those should be considered which have a professional investment manger. This will ensure that the funds get channeled towards the right investments. This also applies for investing in stock markets where a decision to invest should follow a through research about the past and current trends of the stock prices and their Net Asset Values (NAV). Analyses from market researchers about the predicted future trends should also be considered otherwise gains from capital appreciation; capital gain distribution (in case of mutual funds) and dividends might not be realized.
Lastly, investment strategies leading to green investments or investments in renewable sources of energy will be the next big thing in the investment spectrum. From Economy Watch. Economy, Investment & Finance Reports.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
As the return on investment is not always clear, so the investors prepare the strategy so as to face the ongoing challenges in investment. A balanced investment strategy is generally required in the process of investment, which possesses long time period and some risk tolerance.
In the case, when a strategy is aggressive the chance of attaining a higher goal is higher. An efficient strategy can be obtained from portfolio theory, which shows good estimates on risk and return.
Strathclyde Associates Investment Guide: Investment Strategy is usually considered to be more of a branch of finance than economics. It is defined as set of rules, a definite behavior or procedure guiding an investor to choose his investment portfolio. For example, investing in mutual funds has recently emerged as a very favorable investment strategy.
An investment strategy is centered on a risk-return tradeoff for a potential investor. High return investment instruments such as real estate and mutual funds usually have more risks associated with it than low return-low risk investment opportunities. Return on investment can be calculated on past or current investment or on the estimated return on future investment.
Symbolically, it can be expressed as: Vf/Vi -1 where Vf denotes final investment value and Vi is the initial investment value. (“f” and “i” should be noted as subscripts)
Strathclyde Associates Investment Guide: Return on investment (ROI) is profitable when Vf/Vi-1>0 and the investment is deemed to be unprofitable when the value of final investment is less than that of the initial investment. ROI is calculated to be 1 or 100% when the value of the final investment is twice the value of the initial investment.
Types of investment strategies can be defined as follows: A passive investment strategy attempted to minimize transaction costs.
An active investment strategy guide used to maximize returns based on moves such as proper market timing. This usually mean, “buying in the lows and selling in the highs” or buying investment instruments when they are cheap and selling them off when their price appreciates. This strategy, however, is not very beneficial for small time investors.
Small time investors can adopt the buy and hold investment strategy to invest in equities, which although volatile in nature, give favorable long run returns. Investing in equity markets for small time investors is associated with the investors holding on for very long periods. In the case of real estate, the holding period extends the lifespan of the mortgage. Notably, in case of this strategy, indexing or buying a small proportion of all the shares in market index or a mutual fund is a purely passive variant of the above strategy.
The strategy of value investing, a classic investment strategy propagated by Benjamin Graham simply concentrates on the strategy that an investor buys shares of a company as if he was buying off the whole company without paying any attention to the stock market scenario or any exterior conditions such as the political climate. At the end of the day, if he can buy the stock at less than that its actual future worth to the buyer, the person is said to have discovered a “value investment.”
Investment strategies can also denote the investment strategies a national or federal government should follow to bring about economic growth in a country. This can only be achieved by domestic investment as well as significant FDI (Foreign Direct Investment) flows to particular sectors of countries, especially the less developed ones of Asia and Africa.
In case of India, infrastructural problems, excessive government intervention, rigid labor laws and corruption are stifling the flow of FDI in the critical sectors. Less developed countries such as those in the Asia- Pacific region and Africa can bring about much needed development in these economies.
An investment strategy in mutual funds is probably the best bet for a profitable investment. Mutual funds is defined as a pool of money supplied by different investors and in turn used by the mutual fund company to invest in various assets such as stocks and bonds. However, a detailed research has to be conducted for choosing the mutual fund companies and only those should be considered which have a professional investment manger. This will ensure that the funds get channeled towards the right investments. This also applies for investing in stock markets where a decision to invest should follow a through research about the past and current trends of the stock prices and their Net Asset Values (NAV). Analyses from market researchers about the predicted future trends should also be considered otherwise gains from capital appreciation; capital gain distribution (in case of mutual funds) and dividends might not be realized.
Lastly, investment strategies leading to green investments or investments in renewable sources of energy will be the next big thing in the investment spectrum. From Economy Watch. Economy, Investment & Finance Reports.
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
Strathclyde Associates Market Outlook December 2009
Whilst the death knell for the US Dollar has been sounded often in recent years, it weakness has still not alarmed investors...yet!
The dollar has declined 15% against a raft of six major currencies from the highs set in March and is down more than 37% from a peak in 2001. Analysts are of the opinion that another sharp drop in the dollar – or a spike in volatility due to bad news – could heighten foreigners concerns about US stocks, and that could create a confidence crisis that spurs calls for re-examining the currency regime.
The Tipping Point is strongly believed to be a move to $1.60 by the euro, the dollar’s record against the single currency. “If we breach $1.60, I think that’s too far, too fast and could cause concern about a dollar demise”, said BNY Mellon’s senior currency strategist in New York.
The $1.60 is considered to be the maximum exchange rate in which central banks will tolerate weakness in the dollar. Beyond that, we can expect some form of intervention, verbal or otherwise, to support the US currency. For now, a weak dollar is viewed as desirable for boosting exports for the ailing US economy, even though the Administration stresses its preference for a strong dollar.
But the weak dollar, along with the China’s management of its own currency, has other nations, particularly in Europe, concerned. Volatility indicators suggest that the swiftness of the US currency’s fall, coupled with the dollars current level, is raising fears of further dollar weakness, leading to a more tumultuous trading environment.
Which leads one to ask, “Is this the best time to buy stocks??” The answer is resounding “Yes!”
A raft of Market experts and Financial advisors are buoyant about investing now because a range of familiar quoted companies’ stock prices are still trading at attractive levels. Many believe that a combination sell-off’s and consolidations have created some of the best buying opportunities for many months.
Analysts suggest that the window is wide open to buy growth stocks, ahead of the inevitable economic turnaround, at enticingly bargain prices.
Even during the market’s more tumultuous times and difficult days, buy-out news and other short term forces can send individual stocks up by 10%, 25% and even above 50%.
In fact, one or our exciting success stories involved the stock, Human Genome Sciences, Inc. (sticker symbol HGSI). Our recommendation to our clients was to buy when the stock was bobbling around the $3/$3.30 mark and HOLD.
As the result of an announcement, the stock went from $3.32 (July 17th) to $13.84 (July 21st)! It slowly climbed to $18.69 by mid-Oct. and then surged to $28 in early November. Some of our risk adverse clients took an early profit in late July, many others rode the wave $17 or $18, a few stalwarts stays on board until the $25 mark.
Naturally, the trick is not only to find these stocks and but also to seize the opportunity when it is offered. We are always willing to make stock recommendations and offer advice on timing, however, we do feel that it is important for our clients to do their own research too.
As 2009 winds to a close, we can bid good riddance to a decade in Wall Street that will be remembered for two burst financial bubbles and a rogue’s gallery scoundrels who rewarded themselves well and delivered by little.
Wall Street experts and company chiefs behaved in an appallingly arrogant manner for much of the era – their bad attitude towards investors and the sanctity of the markets leading, inevitably, to their fall.
There is no doubt that more than a few of them knew exactly what they were doing to us. With this profitless dotcom, their fraudulent shell companies (Enron and WorldCom!), the over-inflated salaries... not to mention the ‘geniuses’ who engineered the credit crunch by repackaging dubious home-loans as mortgage-backed securities... and the men who ran the banks that were ‘too big to’ to fail and met the crisis with a “What, me worry?!” attitude.
None of us need to ponder deeply before coming up with our own Wall Street ‘horror’ story.
The decade kicked off at the most boisterous phase of the tech bubble, with the NASDAQ reaching a dizzy peak of 5,132. A decade later, it still languishes some 3,000 points below its peak. The Dow Jones and S&P’s 500 Index are ‘only’ down 10% to 20% for the decade.
If there’s a silver lining to this Wall Street debacle, it’s the decade that the decade offered a lesson in how brutal the American markets can be!
In this post-Madoff, post-Lehman brothers environment, more and more investors are looking to Europe – and the European markets – which have traditionally provided solid investor protection.
As this demand for transparency, a higher regulatory standard and strict rules on liquidity and risk management soars, the European market, buoyed by the strength of the Euro, promises to be THE market for a long time to come.
The demands on company’s directors are greater than in other jurisdictions. The regulator wants to see full background checks, and by law, directors must be able to demonstrate good supervision and governance through a wide range of reporting.
“Investors from as far a field as Singapore and Hong Kong are being attracted to Europe in their quest for liquidity and transparent oversight” said a Guernsey-based asset manager, “in fact, it is probable that that many offshore investors will move onshore to Europe over the next five years.”
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
The dollar has declined 15% against a raft of six major currencies from the highs set in March and is down more than 37% from a peak in 2001. Analysts are of the opinion that another sharp drop in the dollar – or a spike in volatility due to bad news – could heighten foreigners concerns about US stocks, and that could create a confidence crisis that spurs calls for re-examining the currency regime.
The Tipping Point is strongly believed to be a move to $1.60 by the euro, the dollar’s record against the single currency. “If we breach $1.60, I think that’s too far, too fast and could cause concern about a dollar demise”, said BNY Mellon’s senior currency strategist in New York.
The $1.60 is considered to be the maximum exchange rate in which central banks will tolerate weakness in the dollar. Beyond that, we can expect some form of intervention, verbal or otherwise, to support the US currency. For now, a weak dollar is viewed as desirable for boosting exports for the ailing US economy, even though the Administration stresses its preference for a strong dollar.
But the weak dollar, along with the China’s management of its own currency, has other nations, particularly in Europe, concerned. Volatility indicators suggest that the swiftness of the US currency’s fall, coupled with the dollars current level, is raising fears of further dollar weakness, leading to a more tumultuous trading environment.
Which leads one to ask, “Is this the best time to buy stocks??” The answer is resounding “Yes!”
A raft of Market experts and Financial advisors are buoyant about investing now because a range of familiar quoted companies’ stock prices are still trading at attractive levels. Many believe that a combination sell-off’s and consolidations have created some of the best buying opportunities for many months.
Analysts suggest that the window is wide open to buy growth stocks, ahead of the inevitable economic turnaround, at enticingly bargain prices.
Even during the market’s more tumultuous times and difficult days, buy-out news and other short term forces can send individual stocks up by 10%, 25% and even above 50%.
In fact, one or our exciting success stories involved the stock, Human Genome Sciences, Inc. (sticker symbol HGSI). Our recommendation to our clients was to buy when the stock was bobbling around the $3/$3.30 mark and HOLD.
As the result of an announcement, the stock went from $3.32 (July 17th) to $13.84 (July 21st)! It slowly climbed to $18.69 by mid-Oct. and then surged to $28 in early November. Some of our risk adverse clients took an early profit in late July, many others rode the wave $17 or $18, a few stalwarts stays on board until the $25 mark.
Naturally, the trick is not only to find these stocks and but also to seize the opportunity when it is offered. We are always willing to make stock recommendations and offer advice on timing, however, we do feel that it is important for our clients to do their own research too.
As 2009 winds to a close, we can bid good riddance to a decade in Wall Street that will be remembered for two burst financial bubbles and a rogue’s gallery scoundrels who rewarded themselves well and delivered by little.
Wall Street experts and company chiefs behaved in an appallingly arrogant manner for much of the era – their bad attitude towards investors and the sanctity of the markets leading, inevitably, to their fall.
There is no doubt that more than a few of them knew exactly what they were doing to us. With this profitless dotcom, their fraudulent shell companies (Enron and WorldCom!), the over-inflated salaries... not to mention the ‘geniuses’ who engineered the credit crunch by repackaging dubious home-loans as mortgage-backed securities... and the men who ran the banks that were ‘too big to’ to fail and met the crisis with a “What, me worry?!” attitude.
None of us need to ponder deeply before coming up with our own Wall Street ‘horror’ story.
The decade kicked off at the most boisterous phase of the tech bubble, with the NASDAQ reaching a dizzy peak of 5,132. A decade later, it still languishes some 3,000 points below its peak. The Dow Jones and S&P’s 500 Index are ‘only’ down 10% to 20% for the decade.
If there’s a silver lining to this Wall Street debacle, it’s the decade that the decade offered a lesson in how brutal the American markets can be!
In this post-Madoff, post-Lehman brothers environment, more and more investors are looking to Europe – and the European markets – which have traditionally provided solid investor protection.
As this demand for transparency, a higher regulatory standard and strict rules on liquidity and risk management soars, the European market, buoyed by the strength of the Euro, promises to be THE market for a long time to come.
The demands on company’s directors are greater than in other jurisdictions. The regulator wants to see full background checks, and by law, directors must be able to demonstrate good supervision and governance through a wide range of reporting.
“Investors from as far a field as Singapore and Hong Kong are being attracted to Europe in their quest for liquidity and transparent oversight” said a Guernsey-based asset manager, “in fact, it is probable that that many offshore investors will move onshore to Europe over the next five years.”
Strathclyde Associates is a full service brokerage firm with many years experience in providing a wide array of services globally to a vast group of clients that include private individuals, financial institutions, governments and corporations.
Thursday, 27 January 2011
Strathclyde Police Warning on Identity Theft Fraud, Scam and Boiler Room Associates
Your identity value and how to protect your details against identity theft. As technology advances, fraudsters have become increasingly sophisticated. The following pages from Strathclyde Associates Police highlight some recent types of fraud which are causing concern and give you advice about how to avoid being a victim.
Identity theft is a growing problem.
This type of fraud involves criminals accessing your personal information and using it to ‘steal’ your identity. In other words, they can pretend to be you in order to open bank accounts, get credit cards, loans, mortgages or to claim benefits. They could even take over your existing accounts and change the supplied address.
The result? You could be plunged into a nightmare situation where your credit history is ruined and you have to correct your record. The majority of victims ARE reimbursed by their banks, but it is a terrible experience nonetheless.
How the fraudsters operate
Fraudsters use a number of methods to obtain your information. They can:
• Target flats where shared mail boxes make theft easier
• Bribe robbers or postal workers to hand over items containing your information
• Search unattended bags
• Rifle through your rubbish to find bills or bank statements which you have thrown out.
Be alert. There are warning signs to look out for. If you receive bills or invoices for goods you have not ordered, collection letters for debt you have not accrued or there are transactions on your bank/credit card statements that you do not recognise, then you are at risk. Also be aware if important documents, like your passport or driving licence, have been stolen.
What You Can Do
• Keep all your important documents safe and secure - do not compromise you personal details.
• When using a credit or debit card , make sure it is never out of your sight.
• Be wary if ATMs look as though they have tampered with, your cards could be skimmed and cloned.
• Never reveal your details when you are contacted by phone, fax, post or email if you believe the request not to be genuine. Always offer to ring back any suspicious callers.
• Destroy, preferably shred, all documents which may contain your information, such as bank statements and utility bills.
• Properly check all your bank/credit card statements and immediately report any transactions you do not recognise (even small amounts).
• Formally close all accounts you no longer require.
• Move your mail - when moving home. It is vital you notify all relevant organisations of your change of address.
If You Think You Are a Victim
• Contact your bank or building society and keep a record of all communication.
• Call your local police and report the matter – ask for a crime reference number.
• Request a copy of your credit report (Equifax or Experian). You can ask for incorrect information to be removed.
Identity theft is a growing problem.
This type of fraud involves criminals accessing your personal information and using it to ‘steal’ your identity. In other words, they can pretend to be you in order to open bank accounts, get credit cards, loans, mortgages or to claim benefits. They could even take over your existing accounts and change the supplied address.
The result? You could be plunged into a nightmare situation where your credit history is ruined and you have to correct your record. The majority of victims ARE reimbursed by their banks, but it is a terrible experience nonetheless.
How the fraudsters operate
Fraudsters use a number of methods to obtain your information. They can:
• Target flats where shared mail boxes make theft easier
• Bribe robbers or postal workers to hand over items containing your information
• Search unattended bags
• Rifle through your rubbish to find bills or bank statements which you have thrown out.
Be alert. There are warning signs to look out for. If you receive bills or invoices for goods you have not ordered, collection letters for debt you have not accrued or there are transactions on your bank/credit card statements that you do not recognise, then you are at risk. Also be aware if important documents, like your passport or driving licence, have been stolen.
What You Can Do
• Keep all your important documents safe and secure - do not compromise you personal details.
• When using a credit or debit card , make sure it is never out of your sight.
• Be wary if ATMs look as though they have tampered with, your cards could be skimmed and cloned.
• Never reveal your details when you are contacted by phone, fax, post or email if you believe the request not to be genuine. Always offer to ring back any suspicious callers.
• Destroy, preferably shred, all documents which may contain your information, such as bank statements and utility bills.
• Properly check all your bank/credit card statements and immediately report any transactions you do not recognise (even small amounts).
• Formally close all accounts you no longer require.
• Move your mail - when moving home. It is vital you notify all relevant organisations of your change of address.
If You Think You Are a Victim
• Contact your bank or building society and keep a record of all communication.
• Call your local police and report the matter – ask for a crime reference number.
• Request a copy of your credit report (Equifax or Experian). You can ask for incorrect information to be removed.
Strathclyde Police Internet Auction Warning on Fraud, Scam and Boiler Room Associates
As technology advances, fraudsters have become increasingly sophisticated. The following pages from Strathclyde Associates Police highlight some recent types of fraud which are causing concern and give you advice about how to avoid being a victim.
Internet auction sites like eBay and Yahoo provide a useful service for the public. However, like other areas of business, they have become the targets of fraudsters, with several thousand would-be traders falling victim every year.
Strathclyde Associates Police highlights on How internet auction sites work
These sites work as facilitators for transactions between sellers and buyers. Sellers post items for sale with terms and conditions set, and potential buyers make ‘bids’. The person who makes the highest offer within an allotted time wins. Arrangements are then made between the two parties for payment and delivery of the goods.
Payment is often arranged through an escrow service. These services hold the buyer’s payment in trust until the goods have been received and checked. The buyer then authorises the escrow service to release the payment to the seller.
How internet fraudsters operate
Internet fraudsters operate in a variety of ways including the following:
‘Invisible goods' fraud
The buyer sends the payment, but no goods are delivered and inevitably, the seller cannot be contacted, as false details were originally given. Using a legitimate escrow service can help protect the buyer from this type of fraud.
Non-Payment fraud
Buyers can also fail to pay. This can happen where the seller agrees to payment after delivery. It can also occur if a stolen credit card is used to make payment to an escrow service, and this is not discovered until after the goods are sent.
Please bear in mind that this is different from the case where there is no payment made as a result of a dispute between buyer and seller. This is a civil matter.
Strathclyde Associates Police highlights on online escrow fraud
Unfortunately, a number of fraudsters have created apparently genuine websites offering escrow services in order to defraud would-be customers.
The seller follows instructions on how to pay his money to the escrow site, usually by means of a cash transfer system such as Western Union. The escrow site then fails to pass the money on to the seller, and can no longer be contacted by either party.
These fraudsters also use a number of other methods to maximise their gain from such a website. Escrow fraudsters can commit invisible goods frauds or can contact the losing bidders for genuine auctions, claiming to be the seller with a similar product for sale. In both cases, the fraudster insists that payment is made through their fraudulent escrow service, with the same result as before.
In addition, escrow fraudsters can ensure winning bids on genuine auctions for high-value goods, again insisting that payment is made through them. When the seller checks the escrow service, he sees that payment has been made by the buyer and sends off the goods (usually to a foreign address). The seller thereafter loses contact with the buyer and the escrow service, and does not receive the promised payment.
Don’t Be Caught Out
There are a number of steps that can be taken to minimise the risks associated with carrying out business on the internet.
• Familiarise yourself thoroughly with the auction site terms and conditions.
• Get to know the seller/buyer - if possible, check the auction website for feedback on this person. Find out details, such as a permanent address and landline telephone number. Carry out online checks to verify that information.
• Ask questions about the goods. Try to verify that a seller has the items in front of him Consider the payment arrangements requested. Fraudsters will often insist on high-risk payment methods such as cash, cheque, wire transfer or cash transfer systems such as Western Union or Nocheques.
• Consider the seller/buyer's location. Very few internet auction frauds occur with the buyer and seller in the same police force area. Although these fraudsters do operate within the UK, they often prefer to commit their frauds in foreign countries, playing on the difficulties of international crime investigation.
• Check out escrow services - especially if the other party insists on using a particular service. These sites are often well presented and appear genuine, but fraudulent sites may have a number of spelling and grammar mistakes.
If you do find yourself a victim of internet auction fraud, report the fraudulent transaction to the internet auction site itself. You should then contact your local police office.
Internet auction sites like eBay and Yahoo provide a useful service for the public. However, like other areas of business, they have become the targets of fraudsters, with several thousand would-be traders falling victim every year.
Strathclyde Associates Police highlights on How internet auction sites work
These sites work as facilitators for transactions between sellers and buyers. Sellers post items for sale with terms and conditions set, and potential buyers make ‘bids’. The person who makes the highest offer within an allotted time wins. Arrangements are then made between the two parties for payment and delivery of the goods.
Payment is often arranged through an escrow service. These services hold the buyer’s payment in trust until the goods have been received and checked. The buyer then authorises the escrow service to release the payment to the seller.
How internet fraudsters operate
Internet fraudsters operate in a variety of ways including the following:
‘Invisible goods' fraud
The buyer sends the payment, but no goods are delivered and inevitably, the seller cannot be contacted, as false details were originally given. Using a legitimate escrow service can help protect the buyer from this type of fraud.
Non-Payment fraud
Buyers can also fail to pay. This can happen where the seller agrees to payment after delivery. It can also occur if a stolen credit card is used to make payment to an escrow service, and this is not discovered until after the goods are sent.
Please bear in mind that this is different from the case where there is no payment made as a result of a dispute between buyer and seller. This is a civil matter.
Strathclyde Associates Police highlights on online escrow fraud
Unfortunately, a number of fraudsters have created apparently genuine websites offering escrow services in order to defraud would-be customers.
The seller follows instructions on how to pay his money to the escrow site, usually by means of a cash transfer system such as Western Union. The escrow site then fails to pass the money on to the seller, and can no longer be contacted by either party.
These fraudsters also use a number of other methods to maximise their gain from such a website. Escrow fraudsters can commit invisible goods frauds or can contact the losing bidders for genuine auctions, claiming to be the seller with a similar product for sale. In both cases, the fraudster insists that payment is made through their fraudulent escrow service, with the same result as before.
In addition, escrow fraudsters can ensure winning bids on genuine auctions for high-value goods, again insisting that payment is made through them. When the seller checks the escrow service, he sees that payment has been made by the buyer and sends off the goods (usually to a foreign address). The seller thereafter loses contact with the buyer and the escrow service, and does not receive the promised payment.
Don’t Be Caught Out
There are a number of steps that can be taken to minimise the risks associated with carrying out business on the internet.
• Familiarise yourself thoroughly with the auction site terms and conditions.
• Get to know the seller/buyer - if possible, check the auction website for feedback on this person. Find out details, such as a permanent address and landline telephone number. Carry out online checks to verify that information.
• Ask questions about the goods. Try to verify that a seller has the items in front of him Consider the payment arrangements requested. Fraudsters will often insist on high-risk payment methods such as cash, cheque, wire transfer or cash transfer systems such as Western Union or Nocheques.
• Consider the seller/buyer's location. Very few internet auction frauds occur with the buyer and seller in the same police force area. Although these fraudsters do operate within the UK, they often prefer to commit their frauds in foreign countries, playing on the difficulties of international crime investigation.
• Check out escrow services - especially if the other party insists on using a particular service. These sites are often well presented and appear genuine, but fraudulent sites may have a number of spelling and grammar mistakes.
If you do find yourself a victim of internet auction fraud, report the fraudulent transaction to the internet auction site itself. You should then contact your local police office.
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