Fisher Capital Management Latest News: KT, Softbank to set up joint cloud computing venture in Korea

http://fishercapitalmanagementkorea.com/2011/06/01/fisher-capital-management-latest-news-kt-softbank-to-set-up-joint-cloud-computing-venture-in-korea/


SEOUL, May 30 (Yonhap) — South Korean telecom titan KT Corp. and Japan’s Softbank Telecom Corp. will set up a joint cloud computing venture in South Korea later this year, the companies said Monday, aiming to tap into demand for reliable Internet storage systems that can protect companies’ data from natural disasters.
KT will hold a 51 percent stake and Softbank will own the remainder in the joint venture, which will be set up by September, they said in a joint press release.
The two telecom companies will open a data center in Gimhae City, near South Korea’s second-largest city, Busan, located close to Japan, to offer services to Japanese companies seeking a reliable data storage center.
KT, which has been stepping up its businesses outside the telecom service sector, plans to offer cloud computing services for corporate customers and consumers in Japan, which is battling power shortages caused by a March earthquake.
As a result of natural disasters in Japan and the stricken Fukushima nuclear power plant, Japanese companies will have to cut back their electricity use by 15 percent starting in July as part of the country’s efforts to curve power demand, which will make it harder for those companies to operate their own data centers.
Through the joint venture in South Korea, Softbank aims to secure a stable data network center to store the companies’ data safely during natural disasters and power outages.
“Through the project, we will be able to protect critical corporate systems and data from natural disasters like earthquakes,” Masayoshi Son, Softbank’s chairman, said in the statement.
ylee@yna.co.kr

Fisher Capital Management Latest News: Korean financial watchdog probes data breach at Hyundai Capital

http://fishercapitalmanagementkorea.com/2011/04/13/fisher-capital-management-latest-news-korean-financial-watchdog-probes-data-breach-at-hyundai-capital/

11 April 2011

South Korea’s Financial Supervisory Service (FSS) has launched a probe into a data breach at Hyundai Capital that affected 420,000 of its customers.

The FSS has sent investigators to Hyundai Capital, the consumer financing arm of auto maker Hyundai Motor Group and GE Capital, after the company admitted that hackers gained access to its customer database and stole personal information and passwords of its customers, theKorea Herald reported.

The data breach occurred over a two-month period. The company was contacted by one of the hackers who asked for money in return for not releasing the customers’ information. However, the data breach was only made public after the company contacted the police to investigate the blackmail.

Hyundai Capital said its internal investigation revealed names, residential registration numbers, mobile phone numbers, and email addresses, as well as passwords to loan services were obtained by the hacker.

Police said the hackers gained access to the database using servers located in the Philippines and Brazil.

The FSS is considering punitive actions against the company if violations of the country’s financial information security laws are found. The agency also plans to form a task force in coordination with other agencies to investigate information security practices throughout the financial sector, the newspaper said.

Fisher Capital Management Korea Latest News Updates

http://fishercapitalmanagementkorea.com/
http://fishercapitalmanagementkorea.com/2011/04/13/fisher-capital-management-latest-news-korean-financial-watchdog-probes-data-breach-at-hyundai-capital/

11 April 2011

South Korea’s Financial Supervisory Service (FSS) has launched a probe into a data breach at Hyundai Capital that affected 420,000 of its customers.

The FSS has sent investigators to Hyundai Capital, the consumer financing arm of auto maker Hyundai Motor Group and GE Capital, after the company admitted that hackers gained access to its customer database and stole personal information and passwords of its customers, theKorea Herald reported.

The data breach occurred over a two-month period. The company was contacted by one of the hackers who asked for money in return for not releasing the customers’ information. However, the data breach was only made public after the company contacted the police to investigate the blackmail.

Hyundai Capital said its internal investigation revealed names, residential registration numbers, mobile phone numbers, and email addresses, as well as passwords to loan services were obtained by the hacker.

Police said the hackers gained access to the database using servers located in the Philippines and Brazil.

The FSS is considering punitive actions against the company if violations of the country’s financial information security laws are found. The agency also plans to form a task force in coordination with other agencies to investigate information security practices throughout the financial sector, the newspaper said.

Fisher Capital Management Korea : Sky Capital’s Mandell Convicted in $140 Million Fraud Case

http://fishercapitalmanagementkorea.com/2011/08/17/fisher-capital-management-korea-sky-capitals-mandell-convicted-in-140-million-fraud-case/


http://online.wsj.com/article/SB10001424053111904772304576470
592205191646.html#articleTabs%3Darticle 

BY CHAD BRAY

NEW YORK—The founder of Sky Capital Holdings Ltd., known to some in the markets as Wall Street’s “bad boy,” was convicted Tuesday of running a fraud that allegedly topped $140 million.

Ross Mandell, the founder of the now-defunct investment-management company, and his associates were accused by federal prosecutors of using high-pressure sales tactics to induce people to invest in purported private placements, restricted stock sales and offers of …

Fisher Capital Management Scam Prevention News : Warning over life insurance updates

http://fishercapitalmanagementscamreviews.com/2011/08/17/fisher-capital-management-scam-prevention-news-warning-over-life-insurance-updates/

http://moneyfacts.co.uk/news/life-insurance/warning-over-life-insurance-updates150811/

Category: Life insurance
Date: 8/15/2011

Failing to update levels of life cover at various stages of life means millions of Britons risk leaving dependents in financial difficulty.

More than five million people are estimated to be playing a dangerous game with their loved ones’ futures, according to recent research by Sainsbury’s Finance.

Almost two thirds (60%) of those with life insurance admit they have not updated their level of cover following a significant change in their personal circumstances.

Life changing events such as getting married, having children, or buying a home with a bigger mortgage can all have an impact on financial commitments.

However, worryingly, millions of people fail to take this into account and do not review their level of life insurance cover accordingly.

The most common change in personal circumstances people are likely to have experienced since purchasing life insurance is changing jobs.

Having children and getting married were the second and third most common change respectively.

David Cook, of Sainsbury’s Life Insurance has urged people to consider any significant changes in their personal circumstances and ensure that they have adequate cover should the unthinkable happen.

“Many people invest in life insurance when they buy their first home as they want peace of mind that they’re covered should anything happen and they’re unable to pay the mortgage,” he added.

“However, clearly people are overlooking the need to update their level of cover once their personal circumstances have changed.

“Life insurance provides financial cover should the unthinkable happen and enables people to be secure in the knowledge that their dependants would receive sufficient funds if they were to die, which would help them to protect their standard of living.”

The new findings come after research conducted by the life insurance provider last year revealed nearly half of mortgage holders in Britain (43%) do not have their mortgage contributions covered by life insurance.

Of those who pay a mortgage that is not covered by life protection, the research found that on average they are personally responsible for an outstanding balance of over £44,000.

Protecting yourself and your family financially against any unforeseen circumstances should always be at the top of your list of priorities.

A broker such as LeadsBox will help you scour the market for the best life insurance deals around.

Compare life insurance providers

*Product information and availability is correct as of the date of public