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Computerworld – A Maine judge’s ruling in a case involving a business that sued its bank after losing $345,000 in a cyber heist could set a precedent about how diligent companies must be in protecting their assets online.

Patco Construction Company, a family-owned business in Sanford Maine, sued Ocean Bank in 2009 after cyber crooks broke into the company’s online account and siphoned out nearly $589,000 via unauthorized Automated Clearing House (ACH) transfers.

About $243,000 worth of transfers were successfully blocked by the bank after the fraud was discovered. However, Patco was left on the hook for the remaining $345,000 — plus interest charges on more than $100,000 the bank used from Patco’s credit line to cover the illegal transfers.

In its lawsuit, Patco charged Ocean Bank with negligence and breach of contract for failing to spot and stop the unauthorized ACH transfers.

Computerworld – A Maine judge’s ruling in a case involving a business that sued its bank after losing $345,000 in a cyber heist could set a precedent about how diligent companies must be in protecting their assets online.

Patco Construction Company, a family-owned business in Sanford Maine, sued Ocean Bank in 2009 after cyber crooks broke into the company’s online account and siphoned out nearly $589,000 via unauthorized Automated Clearing House (ACH) transfers.

About $243,000 worth of transfers were successfully blocked by the bank after the fraud was discovered. However, Patco was left on the hook for the remaining $345,000 — plus interest charges on more than $100,000 the bank used from Patco’s credit line to cover the illegal transfers.

Computerworld – A Maine judge’s ruling in a case involving a business that sued its bank after losing $345,000 in a cyber heist could set a precedent about how diligent companies must be in protecting their assets online.

Patco Construction Company, a family-owned business in Sanford Maine, sued Ocean Bank in 2009 after cyber crooks broke into the company’s online account and siphoned out nearly $589,000 via unauthorized Automated Clearing House (ACH) transfers.

About $243,000 worth of transfers were successfully blocked by the bank after the fraud was discovered. However, Patco was left on the hook for the remaining $345,000 — plus interest charges on more than $100,000 the bank used from Patco’s credit line to cover the illegal transfers.

n this drama that explores greed and corruption in American business, Giovanni Ribisi plays Seth Davis, an intelligent and ambitious college dropout who runs a casino in his apartment. Eager to show his father that he can succeed, Seth lands a job with a small stock brokerage firm. He is given a space in the company's "boiler room," where he makes cold calls to prospective clients. As it turns out, Seth has a genuine talent for cold calling, which gains him the approval of his superiors, the admiration of his father, and the attentions of one of his co-workers, Abby Hilliard (Nia Long). However, the higher up the ladder Seth rises, the deeper he sinks into a quagmire of dirty dealings, until he's breaking the law in order to keep his bosses happy and his paychecks coming. The Boiler Room also features Tom Everett Scott, Scott Caan, Jamie Kennedy, Nicky Katt, and Ben Affleck in a cameo as the headhunter who brings Seth into the firm. Ribisi and Scott also appeared together in That Thing You Do; Ribisi was the drummer replaced by Scott, who then led The One-Ders to fictional pop stardom. ~ Mark Deming, Rovi

The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world.

Published : Thu, 03 Feb 2011 11:46
By : 1888pressrelease.com
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(1888PressRelease) February 03, 2011 - The big fall in the euro in recent months is clearly having a significant impact on the performance of the

euro-zone economy.


Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation;portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.

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As of 24 December 2010, Cochrane Shaw Capital Management Pty Ltd (CSCM) is 75%-owned by Incito Group Limited - a 100%-owned subsidiary of Equities and Freeholds Limited (ASX - EQF).

CSCM provides "Fee for Value" strategic financial advice in the areas of estate and retirement planning
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As a Principal Member of the Financial Planning Association of Australia, Cochrane Shaw Capital Management Pty Ltd is a boutique dealer providing financial services to a diverse range of individual clients and corporations as well as accounting firms and legal practices.

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Brazil provides us with an example of a rapidly developing, energy-hungry economy in the Western Hemisphere, where biofuel is a fact of life. Biofuel is also an investment imperative for energy investors and companies that want to make money in Brazil. As an important part of the #3 economy in the Americas, ethanol can’t be ignored by the United States.

Accounts Receivable Financing

What is Accounts Receivable Financing?
Receivable financing is a method used by businesses to convert sales on credit terms for immediate cash flow. Financing accounts receivable has become the preferred financial tool in obtaining flexible working capital for businesses of all sizes. The receivable credit line is determined by the financial strength of the customer (Buyer), not the client (The seller of the receivables).
Shaw Capital Management financing programs can accommodate companies with seasonal or uneven sales patterns or start-up operations with no financial base to rely upon. Any business can qualify for receivable financing if it generates sales on open credit terms to customers with financial credit strength.