Monthly Archives: January 2018

Thomson Reuters introduces Investment Research Marketplace on Eikon to Further MiFID II …

NEW YORK – Thomson Reuters now offers an Investment Research Marketplace on its flagship desktop product Eikon, a solution that enables buy-side firms to purchase research from sell-side contributors designed to inform and complement their investment processes. This solution also helps facilitate buy-side compliance with MiFID II research unbundling requirements.

Thomson Reuters Investment Research Marketplace in Eikon will host subscription based collections of a select number of global sell-side contributors. Buy-side firms will be able to purchase these research collections by contracting directly with Thomson Reuters, and then consume them via Eikon. Any research acquired will be seamlessly integrated with all Eikon research capabilities, including our flagship Advance Research Search, Search & Discover, and Watchlist Pulse.

“In a changing investment management landscape, our buy-side and sell-side clients are looking for new ways to acquire, consume, distribute and monetize research” said Mahesh Narayan, head of Portfolio Management and Research, Thomson Reuters. “This new capability demonstrates our innovative approach to deliver value-driven solutions to our buy-side clients that help enhance the investment process. It also furthers our continuing commitment to provide the market with products that are designed to facilitate MiFID II compliance post-implementation.”

As one of the largest aggregators of real-time research in the world, Thomson Reuters offers a comprehensive portfolio of research-related products for both the buy-side and sell-side, and continues to focus on delivering MiFID II research-related solutions and enhancements on Eikon to help clients prepare. In 2017, Thomson Reuters announced a series of Eikon integrations and enhancements to further align with research unbundling requirements. Thomson Reuters also announced a partnership with Visible Alpha to bring three joint-solutions on to Eikon to track corporate access and sell-side interactions, and a series of search functionality and research management upgrades.

“Accessing research in a seamless way and reaching new users are the two main challenges around MiFID II, this solution will help us to show our independent expertise on a global basis. We consider MiFID II as a strong opportunity for buy-side to open their research providers list to analysts who actually capture alpha,” said Maxime Mathon, head of communications and marketing, AlphaValue.

“We look forward to partnering with Thomson Reuters to further expand our research franchise in Switzerland, Europe, North Americas and Asia”, said Panagiotis “Takis” Spiliopoulos, Managing Director and Head of Research for Bank Vontobel AG.

“Over the past years ABN AMRO has continued to invest in its equity platform. MIFID II, not only generates challenges, such as an increased administrative burden, but also offers new opportunities and business models. We are looking forward to further expand our client base with the help of our dedicated long term partners, such as Thomson Reuters”, said Wim Gille, Head of Equity Research for ABN AMRO.

These tools continue the ongoing series of enhancements and new solutions Thomson Reuters has delivered to the financial industry related to new MiFID II requirements, which were implemented January 3, 2018.

Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.

CONTACT

Brian Bertsch

+1-646-223-5985

brian.bertsch@thomsonreuters.com

Lemuel Brewster

+1-646-223-5147

lemuel.brewster@thomsonreuters.com

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Here’s What Happens When Your Mom Or Dad Steals Your Identity

“We don’t have good statistics on the scope of child identity theft,” Eva Velasquez, president and CEO of the Identity Theft Resource Center, told BuzzFeed News. “But it’s common enough that we hear from people on a regular basis, either parents who are calling us because they somehow found out their children’s information has been used, or kids themselves call us when they are getting a student loan or car loan and find out they have credit history that’s precluding them from moving forward with their lives.”

Minors are attractive targets for identity theft. Because of their young age, they have clean credit reports and often don’t discover the theft until they reach adulthood and apply for credit, John Krebs, identity theft program manager with the Federal Trade Commission, told BuzzFeed News. And their social security number and other personal information is easily available to family members — so easily available that there are cases of parents secretly using their adult children’s information to open lines of credit.

Hailee, a 23-year-old community college student in Pennsylvania, told BuzzFeed News she is working off $500 in debt on a credit card she didn’t know existed until recently. Her mother opened the account in her name in 2015 and used it to replace a broken air conditioner. Hailee said she didn’t discover the account until Wells Fargo began pestering her about late payments.

“I wasn’t making that much money,” said Hailee, who asked to be identified by her first name only. “If [my mom] had just asked me in the first place, I would’ve seen if there was anything I could do to help out. Instead, I find out one day that I’m $500 in debt.”

Hilary O’Byrne, a Wells Fargo spokesperson, told BuzzFeed News it could not comment on Hailee’s account, but it has “extensive security measures to protect customers from fraudulent activity.” But it doesn’t discuss security procedures in detail, “as doing so could jeopardize their effectiveness.”

Hailee said she feels betrayed by her mother’s actions, but she’s not going to file charges. “I would never send my mom to jail or put her in a situation where she has to go to court,” she said. “It’s hard in these times to remember your parents love you and it sucks you’re being taken advantage of.”

This form of identity theft is not always malicious, Chi Chi Wu, an attorney with the National Consumer Law Center, told BuzzFeed News. “A lot of times parents are desperate,” she said. “The heat has been shut off, the light has been shut off. You can’t get service with your own information, so they use a child’s identity to get service.”

Krebs at the FTC said this kind of fraud “may be different from running up a bunch of credit card bills, but is the impact the same? Yes.”

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Police: Mother, daughter bought 3 new cars using stolen identity

WINTER HAVEN (FOX 13) – A woman and her adult daughter were arrested for identity fraud after police say they bought three brand new Honda vehicles using someone else’s information.

The sales manager at Winter Haven Honda called police after a credit monitoring company raised concern that the purchases were fraudulent.

Winter Haven Police say Norma Castro, 48, and her daughter, Keisha Nicole Garcia-Castro, 23, came to the dealership to buy vehicles to use while driving for Uber.

Police say both women provided identification and Nicole filled out the credit application to purchase a 2018 Honda Accord and a 2017 Honda Pilot. The vehicles have a combined value of more than $100,000.

The dealership contacted the women a few days later to follow up on the purchase. Norma told the associate she was so happy, she planned to buy another vehicle. Police say the pair came back a few days later and purchased a 2018 Honda Accord, valued at $43,000.

But two days later, on Monday, January 29, the dealership got a call from a credit monitoring company which said the information entered on Nicole’s credit application had been flagged for identity theft.

That’s when the dealership called police about the fraud and let officers know Norma was scheduled to come to the dealership later that day.

When she arrived, Winter Haven police were there waiting for her.

Police say Norma told police where they could find the first two vehicles, which were towed back to Winter Haven Honda, but Nicole was nowhere to be found.

The Honda that Norma drove to the dealership was also returned.

Norma told police she was unaware of what was on the credit application filled out by her daughter. In her purse, police say they found bills and documents with the names, birth dates, and social security numbers of people unknown to Norma. Police say she ultimately confessed and said she was trying to protect her daughter.

Norma was booked into the Polk County Jail on one count of conspiracy to commit fraud and three counts of possession of another person’s ID without consent.

A warrant for Keisha Nicole Garcia-Castro was obtained on charges of grand theft of $100,000 or more and obtaining property by fraud more than $50,000.

Police say Nicole was already serving five years probation for a fraud charge in April 2016.

Anyone with information on Garcia-Castro’s whereabouts is asked to call Heartland Crime Stoppers at 1-800-226-TIPS (8477). Callers are guaranteed anonymity and could be eligible for a cash reward.

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One prison sentence wasn’t enough for this former Kentucky lawmaker

A former Eastern Kentucky lawmaker pleaded guilty to identity theft Thursday under a plea deal that calls for a two-year prison sentence.

Former state Rep. Keith Hall, a democrat from Pikeville who is already serving a 7-year sentence in another case, was charged last year with three counts of wire fraud, two counts of identity theft and one count of lying to the FBI.

Under his deal with prosecutors, Hall pleaded guilty to one count of identity theft. In turn, they will recommend a 2-year prison sentence, a maximum fine of $250,000 and no more than one year of supervised release.

The other five charges, the most serious of which could have carried a 20-year sentence, would be dismissed.

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Hall is currently serving a 7-year sentence following a 2015 conviction for bribing a state inspector to overlook violations at his surface coal mines.

The new case involves a Pike County company called S&H Chemical Co. LLC, which supplied chemicals and water-treatment products to coal companies. The company’s owners were listed in the indictment as S.H. and J.H., with J.H. identified as Hall’s son.

Hall owned coal companies that operated in conjunction with S&H Chemical, and Hall “generally oversaw” the operation of S&H, the indictment said.

B&W Resources, a London mining company that bought chemicals from S&H, required vendors to show proof that they had valid liability and workers compensation insurance, the indictment said.

When B&W requested proof of insurance from S&H in April 2015, Hall cooked up a scheme to fool the company by submitting falsified documents, according to the indictment.

Hall allegedly gave B&W at least four fake certificates showing that S&H had insurance.

Hall was a state lawmaker for 14 years before being defeated for re-election in 2014.

He was indicted in federal court that year for allegedly funneling $46,000 to Kelly Shortridge, a state surface-mine inspector, so that Shortridge would ignore or delay enforcement of environmental violations at Hall’s mines.

Hall is scheduled to be released from prison in June 2022 in that case.

Will Wright is a corps member with Report for America, an initiative of The GroundTruth Project. Reach him at 859-270-9760, @HLWright

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Haven PD: Mother & daughter schemed to fraudulently buy 3 vehicles; daughter at large

Mike Ferguson @mikewferguson

WINTER HAVEN — A Haines City woman has been arrested and another remains at large on fraud charges after trying to purchase vehicles from a car dealership under false pretenses, according to the Winter Haven Police Department.

Norma Castro, 48, and daughter Keisha Nichole Garcia-Castro, 23, each purchased vehicles from Winter Haven Honda, 6396 Cypress Gardens Blvd., on Jan. 27 — a 2018 Honda Accord and a 2017 Honda Pilot, police said. The combined value of the two vehicles was greater than $100,000.

The women, according to police, told the dealership that they were purchasing the vehicles for their Uber business. A credit application completed by Garcia-Castro returned as satisfactory, allowing the two women to leave with the cars, police said. Castro told the dealership in a later phone call that the two had planned to buy a third vehicle. They returned to the dealership at 5:30 p.m. Jan. 27 to pick up a second 2018 Honda Accord — this one valued at $42,958.

“All indications are they falsified the driver’s licenses,” police spokeswoman Jamie Brown said. “They falsified other people’s licenses to have their names on them.”

On Monday, the dealership was contacted by LifeLock, an identity theft protection firm, which advised the dealership that the information entered by Garcia-Castro had been flagged for identity theft. When Castro came in for a scheduled appointment Monday, police had already been contacted and were present at the dealership to apprehend her.

“The initial application, I’m told, was filled out by hand,” Brown said. “That may be why it would have taken LifeLock a few days to enter the information.”

The police report said Castro acknowledged to police that the two vehicles were at their Haines City home at 717 Garnette Ave., from where they were later towed and returned to Winter Haven Honda. A Honda that Castro drove to the dealership was also returned.

Castro told police that she had her daughter fill out the credit application, but she did not know what was on it. A search of Castro’s purse, police said, returned a cable bill in Garcia-Castro’s name along with other documents with names, birthdates and Social Security numbers. Castro told police that the documents belonged to family members, but she was unable to remember any of the names on the documents, the WHPD said.

Castro later said that she was holding the paperwork for her daughter, who told Castro the paperwork belonged to her friends, police said. Castro told police that she initially lied to protect her daughter.

Castro was taken to the Polk County Jail on charges of conspiracy to commit theft and three counts of possession of identification without consent. Garcia-Castro is wanted on charges of grand theft of more than $100,000 and obtaining property by fraud. Garcia-Castro is on probation for a fraud charge from April 2016.

Anyone with information on Garcia-Castro’s location is asked to call Heartland Crime Stoppers at 800-226-8477 (TIPS). Callers will remain anonymous and may be eligible for a cash reward.

Mike Ferguson can be reached at Mike.Ferguson@theledger.com or 863-401-6981. Follow Mike on Twitter @MikeWFerguson.

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ID theft, fraud prevention topic of free seminar

Attendees will learn how to be their own best defense against becoming a victim of scams, fraud and identity theft. Topics covered will include protecting yourself in a data breach, scams hitting the local area, health-care scams and fraud, how to recognize scams and fraud by mail, phone and email and what to do if you are ever a victim.

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Residents should be aware of tax-related identity theft

Tax season officially kicked off this week with the IRS accepting returns from filers.

Plenty of time remains for those procrastinators who prefer to file when the deadline rolls around — April 17 marks that date this year. But with the Equifax hack and similar opportunities for thieves to access the personal information of millions, it may pay off to file early to safeguard any refund that might be due.

Tax-related identity theft occurs when a person’s Social Security number is used by someone else for the purpose of claiming a refund to which they have no rights. Victims often discover the fraud after they receive a notice from the IRS that states their Social Security number was used on more than one tax return filed in a single year or the agency’s records show there was income from an unknown employer.

The Federal Trade Commission this week reported some encouraging news on that front. The number of tax-related identity theft complaints filed in 2017 made up 22 percent of 371,157 identity-theft complaints, down from 33 percent of the 399,223 complaints filed the previous year.

The agency also reported a decline in the number of scam artists who call taxpayers and threaten them with arrest or large fines unless an immediate payment is made. The 56,065 complaints involving these so-called IRS impostors in 2017 represent a 54 percent decline from the previous year.

“We’ll have to wait to see if the declines turn into long-term trends,” said Seena Gressin, an FTC Consumer and Business Education Division lawyer, while promoting a public awareness campaign intended to combat these crimes. “In the meantime, you can be sure of this: The more you know about tax-related identity theft and IRS imposter scams, the better your chance of avoiding them.”

While the prevalence of tax-related identity theft appears to be waning, the Internal Revenue Service warns “taxpayers to remain vigilant to scams as they continue to be reported around the country.” Thieves often target those who are impacted by disaster — natural or otherwise — and vulnerable populations.

“These scams evolve over time and adjust to reflect events in the news, but they all typically are variations on a familiar theme,” IRS Commissioner John Koskinen states in a media release addressing the topic. “Recognizing these schemes and taking some simple steps can protect taxpayers against these con artists.”

In an effort to combat this crime, the IRS offers tips for taxpayers, tax professionals and businesses:

• Taxpayers are urged to use security software with firewall and anti-virus protections, keep it turned on, and set it to update automatically. Sensitive files stored on computers should be encrypted, and a unique password created for each account.

• Taxpayers should familiarize themselves — and learn to recognize and avoid — phishing emails, threatening calls and text messages sent by thieves posing as legitimate organizations. Do not click on links or attachments in suspicious email messages or those from unknown senders.

• Taxpayers should protect personal data — treat it like cash, and don’t leave it lying around.

• Tax professionals are encouraged to review security features and exercise due diligence while protecting client data.

• Businesses and other organizations are urged to combat identity theft by helping educate employees — especially payroll and human resources workers — clients and customers.

• Businesses that retain sensitive financial data also should review and update security plans.

Reach D.E. Smoot at (918) 684-2901, @dsmootMPhx or dsmoot@muskogeephoenix.com.

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Protect your online identity with these five tips

4. Keep your browser secure.

A “lock” icon on the status bar of your browser means your information will be safe when it’s transmitted. Look for the lock before you send personal or financial information online.

FNNB Bank recommends running a virus/malware scan using an anti-virus utility from a reputable company such as Symantec (Norton), Trend-Micro, McAfee, AVG, Avast, etc. If you have any questions, contact the Customer Service staff at FNNB.

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A dog was ‘approved’ for $360 per week in unemployment benefits

It’s not always easy to find work.

Just ask Ryder — he was apparently laid off from his job at a restaurant chain in Michigan. So the state approved him for $360 per week in unemployment benefits.

Just one problem: He’s a dog.

“So my dog Ryder gets approved for unemployment benefits of 360 per week,” Ryder’s owner, Michael Haddock, wrote on Facebook, according to ABC affiliate WZZM.

He added: “Not sure what he is going to do with the money but should be interesting. I knew he was clever but he surprised me on this one.”

[ The economic boom is all well and good. But spreading its benefits to everyone will take serious work. ]

Haddock, an attorney in Saugatuck, Mich., told WZZM that he received a letter last weekend from the State of Michigan Unemployment Insurance Agency addressed to his dog — sort of.

It was sent to “Michael Ryder.”

“My name is Michael; my dog is Ryder,” Haddock told the station. “I was surprised to see it, but I had a good laugh, actually.”

But the mix-up may not be so comical.

Michigan UIA announced earlier this week that it is putting together a special team to catch phony claims, according to reports.

There’s also the issue of identity theft. In 2014, 17.6 million U.S. residents older than 16 had their identities stolen, according to the most recent data from the Bureau of Justice Statistics.

“Due to criminals stealing data from a number of different places — Equifax, other places where this has happened over the last few years — criminals are now using that information to file for unemployment benefits, and the IRS is running into the same problem with tax refunds. That’s how this starts,” Michigan UIA spokesman Chris DeWitt told WWJ Newsradio 950.

The Oakland County Sheriff’s Office confirmed to The Post that someone named Michael Ryder filed a police report Wednesday claiming possible identity theft.

The letter from Michigan UIA stated that Michael Ryder had worked for Kruse and Muer, an upscale seafood restaurant chain in Michigan. He was approved for 20 weeks of unemployment benefits at $360 per week, it stated.

A spokeswoman for the restaurant chain would not immediately comment on the situation.

Haddock said he called UIA to sort it out. “I felt like back in school when I would tell the teacher that the dog ate my assignment,” he told WZZM. “I don’t think the risk management person really believed what I was telling her, and she just asked me to scan the document and send it to her.”

Ultimately, the claim was denied, and Michigan UIA said it is now investigating the incident.

“Unfortunately, Michael Ryder’s claim will not be allowed,” Tim Kolar, state administrator of investigations with the UIA, said in a statement to WZZM. “I know first-hand it is rare for ‘man’s best friend’ to contribute financially to the household and that will continue in this instance.”

Following the mishap, Haddock said in an email to The Post that he hoped “it raised some awareness of the growing fraud States are battling in processing unemployment insurance claims.”

“I have received an email denying benefits,” he said, “and I do not intend to assist Ryder in filing an appeal.”

This post has been updated.

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