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Tips For Safe Internet Banking

Tips For Safe Internet Banking

In the last decade or so Internet banking has picked up to the levels when number of people using internet banking in day to day routines has arisen exponentially.Along with the rise of internet banking, there has been a significant increase in the online thefts, hacking has been the predominant activity behind these thefts.

Hackers create programs having hidden section which in turn infect computers and are used intentionally to decode the account credentials. Along with that, there has been a surge in an intelligent kind of hacking called Phishing of late as our society has come across many varieties of Phishing out of which email attacks have been the top choice as

Phishing emails having the links to fake websites which look same as the original bank website.

Phishing emails pretending to have come from legal agencies and asking for credentials in many ways.

How to avoid Internet Banking thefts

In practice usually no banks ask for user ID and password, so it should never be compromised. Do a great deal of inquiry with your bank in the worst cases.

Do not use internet cafe or shared computer for your internet banking access, to avoid unauthorized access to your account. Its always a good practice to clear the cache, cookies, saved passwords, files, user names in the browser.

Always memorize your password or personal identification numbers, do not write it anywhere, and specially do not write in your PC document files.

We should always keep changing the password periodically so that the chances of unknowingly compromised passwords being exploited are reduced.

Prefer not to use same password for your financial account which you may use for other internet connection.

Always try accessing the bank website by correctly typing the URL in address field as there can be websites having almost similar names(to capture the typing mistakes) and looks (to create illusion) as the original bank website. Practice some caution here.

When you finish with your internet banking stuff, always logout from the menu and clear the temporary files, cache, cookies etc.(Usually you can do it by going to TOOLS-> INTERNET OPTIONS in your browser)

Delete suspicious mails in particular if they contain attachment and share the incident with other in your reach. (You may save someone from being victim of these emails.

Prefer not to open any email received from someone you do not know.

Must scan all your new files and software’s before installations.…

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Banks Vs Insurance Companies – Which One Is Safer?

Banks Vs Insurance Companies – Which One Is Safer?

People around the globe are asking themselves if they should put their money into banks or insurance companies. In a global economy, banks have institutions all over the world just like insurance companies. Banks share information and process loans, lend cash, make deals, and keep the flow of money moving faster than ever before. Insurance companies on the other hand, tend to be more conservative with their investments. Here are some of the differences.

Bank Pros:

One of the nice things about putting money with your bank is that they probably have a local branch for you to drive or walk to. It is easy to process your deposits, get cash, and to get a loan for a vehicle or a home. If you buy a certificate of deposit, you can simply drive down to your local branch and talk to a live person who will assist you with new products and rates. Banks now are taking their business online and you can process many of the same features as your local branch from the comfort of your home. Banks in the United States are covered up to $250,000 by the FDIC.

Bank Cons:

One does not have to look very hard to see the cons in the banking system. The 1920’s crash, the Savings and Loans Crisis, and the 2008 Market Crash are due to Banks, Wall Street insiders, and Government not looking out for the people. These crashes were due to one thing, “Greed.” Ever heard of the phrase “To Big to Fail?” Banks can also leverage money. If you give them $1, they can loan out $30 or more.

The FDIC Seized:

25 Banks in 2008

140 Banks in 2009

157 Banks in 2010

11 Banks just in January of 2011

The FDIC is broke and the American Tax payer is on the hook for all of these banks because of their loan practices.

Insurance Company Pros:

When you purchase an annuity or a cash value life insurance policy, your money is invested in to Bonds and Options. Insurance companies are required by law to keep a certain amount of their money into reserves. These companies are heavily regulated federally and by the individual states. Insurance companies helped bail out the Government and Wall Street firms in the 1920’s.

Insurance Company Annuities and Cash Value Life Insurance are protected:

Each state offers a State Guarantee Association. What that means to you is that anywhere from$100,000-$250,000 of your deposits are also covered, just like the banks. In addition, your money will have protection from creditors (State Limits Apply) and your money in annuities and cash value life insurance will go probate free to your loved ones or beneficiaries.

Insurance Company Cons:

Depending on the type of policy you have, you may have early surrender charges should you take money out of your policy early similar to a bank certificate of deposit. Annuities are retirement vehicles and if you take money out prior to attaining 59 A�, you may have an IRS penalty.

In the end, you have to make the best choice that fits your needs. Make sure to check your bank rating and insurance company rating prior to putting your money into either institution. Banks may come or go, but insurance companies could be a good alternative for your safe and conservative investments.…

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Investment Banking Interviews – No One Would Ever Tell You This

Investment Banking Interviews – No One Would Ever Tell You This

Interviewing for a job as an investment banker is a form of negotiation. The most successful negotiators are the usually the ones with the most information on the other side that helps them to prepare and to succeed at the negotiating table. If you want to stand out from the crowd of other potential applicants you have to be prepared for your interview. There is plenty of information written about the two types of questions you will be asked – fit and technical knowledge. Other information tells you how to dress. But there is some information that nobody will ever tell you, that, if you know, it would make all the difference in getting the job. I am going to share with you those secrets that will help you ace your investment banking interview. Here are 3 secrets that you will never be told.

Secret 1: Don’t claim you want to go into management

It is okay to have drive and ambition but do not set the expectation that you deserve to be in management shortly after graduating from university. Recent university graduates fail in job interviews when they flaunt their desire to join a firm and start making decisions right away. It is very difficult, if not impossible, to be a manager if you do not understand how the business operates. You must first understand the company’s policies, future directions and corporate goals before you can start making decisions. If you express a desire to be in management during your interview, you are showing your lack of knowledge of how a business operates. This is the best way to NOT get a job.

Secret 2: Don’t overstate your goals

A common question you might be asked is to state where you expect to be in five years with the company. A frequent response is to state that you expect to be a Vice President or running the company in five years. This would be a mistake. How can you know where you will be in five years if you have never worked a day for that company? A better answer to this question is to stress that you expect to be in a position that rewards you for your dedication and allows you to apply the skills that you have learned. This is a much more realistic answer to this type of question.

Secret 3: It is not the question; it is the answer that is the problem

It is not unusual for potential applicants to be asked quite a few trick questions during the interview. These are known as impossible questions. They are asked to gauge the resourcefulness or out-of-the-box thinking of the potential applicant. People are hired or not hired based on their answers to these types of questions. Employers are looking to see how well you can solve the question under stress because this determines how well you can survive it today’s hypercompetitive work environment. You are not expected to know the answer to the question. You are judged by how well you might arrive at the answer to the question.

Be aware of these three secrets as you prepare for your investment banking interview. How you handle these may determine if you are hired or not.…

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Online and Mobile Banking – Lowering Channel Costs and Enabling More Self-Service

Online and Mobile Banking – Lowering Channel Costs and Enabling More Self-Service

Despite the fact that roughly 75% of American consumers have Internet access, adoption of online banking remains much lower. Numerous studies show that fewer than half of US consumers use online banking, with some reports putting the number as low as 38%. Mobile banking is also currently in its infancy but is steadily growing and expected to reach 1 in 5 adults by 2015.

One of the main reasons both online and mobile banking have not already achieved greater adoption is a concern around security. Approximately 30% of consumers NEVER bank online due to security concerns and an additional 48.5% do some online banking but say they are still concerned about the security of it.

Financial institutions can significantly lower operational costs while simultaneously boosting revenues and up-selling additional services by convincing existing customers to conduct more of their banking online, and by attracting new customers through convenient online and mobile services. A transaction that costs the institution $4 when a customer conducts it at a branch location, costs just 17 cents if the customer does it online, or just 8 cents if done via mobile. In addition to the large savings in operational costs, moving customers to online or mobile channels gives financial institutions greater opportunity to market additional products or services – such as online bill pay which increases customer retention and loyalty.

So how can financial institutions overcome customers’ security concerns while simultaneously improving their online experience? By achieving a balance between strong security and ease-of-use so customers recognize they’re in a highly secure environment without being inconvenienced.

One of the best ways to achieve this balance is to improve the authentication process. Strong authentication has traditionally meant sacrificing usability. Users either relied on insecure passwords and challenge questions or they carried hardware tokens and smartcards, which are inconvenient for customers and too expensive for institutions to purchase, distribute and maintain for anyone other than their most high-value customers.

To solve the trade-off between security and usability, Confident Technologies introduced image-based authentication solutions for websites and mobile devices. Our unique technology creates one-time passwords simply by having users remember a few secret categories and identify pictures that fit those categories. It can be used for secure logins, self-serve password resets, anti-phishing, or as a second layer of authentication to authorize transactions or replace security challenge questions. Because it creates a one-time password each time authentication is needed, it’s much more secure than traditional passwords or challenge questions. At the same time, its intuitive image-based interface is much easier for consumers – especially those using mobile smartphones or tablet devices – and there is nothing for them to download or carry.

Image-based authentication can also be used on smartphones for a more secure approach to out-of-band, two factor authentication. To authenticate, the consumer correctly identifies their secret image categories on the phone to create a one-time passcode. It’s much more secure than sending a clear text, one-time passcode as an SMS message and the entire authentication process remains out-of-band from the Web session.

Providing customers stronger security while at the same time improving the user experience will help move more customers to online and mobile banking channels – thereby reducing operational costs and providing an opportunity to market additional products and services. Image-based authentication is cost-effective and flexible solution to increasing security while improving usability.…

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Automated Bio-Banking

Automated Bio-Banking

Bio-banks hold collections of biological samples and associated information. The advances in technology make it now possible that samples are collected, stored under suitable conditions and delivered when needed. Bio-banks have multiple purposes, from preserving and allowing easy access to genetic resources, to helping medical research being conducted more easily. Bio-banks are mostly employed by pharmaceutical companies and academic laboratories. Research organizations in various fields need to store large numbers of biological samples in bio-banks. Instead of having their own internal bio-banks, pharmaceutical companies normally outsource this to companies that are specialized in automated bio-banking and sample management; professionals will see the samples through all the stages of bio-banking, making sure they are kept in the best conditions.

The automated bio-banking domain also concerns the government and academic and commercial organizations as well. All these institutions need large-scale automated instruments for preserving biological samples for a long time. These biological repositories can contain samples of human blood, tissue, plasma and DNA and be available for certain medical researchers to develop new ways of diagnosing and treating illnesses.

Bio-banking systems are designed to store for short term or long term biological materials, including human, animal, and other biological samples. The samples need to be correctly maintained to prevent deterioration over time, since they need protection against any type of damage.

Using special software, the sample information is recorded in databases, so they can be easily located at anytime. There is an automated system performing all tasks, so automated bio-banking handles all sample loading and retrieval tasks. The sample integrity is assured by using dedicated robotics for working in a specified temperature range. Access to individual tubes and plates is allowed by special sample cherry picking techniques that leave the other samples secured in their location. Dedicated software allows real-time video monitoring of sample storage and retrieval.

The automated bio-banking management systems are required to meet rigorous standards for reliability, sample integrity, also high capacity. The sample libraries usually contain from hundreds of thousands up to tens of millions of individual sample that require storage at -80A�C or colder.

The samples require careful management all the time. There also should be a backup plan to protect samples against facility power outages.

In conclusion, using automated bio-banking facilities is now a necessary must for every major pharmaceutical and biotech companies worldwide. However, it should meet several standard qualities. The operations should be easy and reliable, assuring the sample integrity; the samples need to be carefully managed and protected, software control and tracking should be available. The cost-effectiveness is also important.…

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Banking Interview Question With an Answer – What Would You Do If I Gave You $100,000?

Banking Interview Question With an Answer – What Would You Do If I Gave You $100,000?

“If I gave you $100,000 right now, what would you do with it?” Ah the classic “does this kid have a brain?” question. It’s got to be one of the easiest investment banking interview questions you’ll ever get and quite fun once you’ve nutted out your 5-part answer.

But in order to crush it you must avoid the one answer-killing mistake that about 2/3rd of students make; they think the banker is asking them what they would do with the $100,000 if they personally had it.

And although the question seems like it is aimed at you and your personal situation, it is not. It’s also not aimed at the banker interviewing you.

How are you meant to handle this question then? Like a budding consultant you need to first answer this question with a question

“Who is the investor and what are their goals, risk profile etc.?”

Yeah that’s right. Put on your $60k-a-year financial planner hat and enquire about the type of return the mythical investor wants, cash flow requirements over time, their personal tax situation, preferred asset classes, favorite industries etc.

PS Unlike management consulting case interviews, don’t expect a banker to offer you that much extra information – 2 or 3 points and they’re usually done. This is after all but one small question in investment banking interviews.

Based on this new information you can explain what you would do. Suggesting an investment strategy that even remotely takes into account this new information will earn you an A here.

If you want to bring your answer to an A+ level…

Put together a diverse portfolio of stocks, bonds, real estate, cash and other alternative asset classes. Students who fail to combine asset classes and instead offer up just one in a “Oh, risk averse, then I’d invest the money in bonds” fashion, are idiots. That is a blunt investment strategy with zero ounces of finance finesse – different asset classes deliver different risk / return / cash flow / tax consequences etc, so mix & match with that in mind.

Mention how much of each in $ amounts, not % – this is a small point, but it can make a big difference to bankers.

And explain the allocations using the investor’s personal information – particularly their risk profile, income requirements over time, lifestyle goals and personal tax situation.

But when all is said and done, don’t get so sophisticated that you confuse yourself! Wondering aloud “Oh, but hang on, maybe…” like your Drew freaking Barrymore will undo all your hard work in an instant.

PS If the bankers turn around and says the mythical investor is in fact you – and thus what would ‘you’ do with $100,000 – use the same answering strategy as above, but tailor it to your youthful circumstances. Hint: a 40+ year time horizon = heavy in stocks!…

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All About Business Banking Account Comparison

All About Business Banking Account Comparison

When you are wanting to start up a business and you would like to get a bank account that suits your business, then you may want to look into business banking comparison.

When choosing the right type to open for your business, you want to make sure that you are getting all that you can from your bank. When comparing them to use for your business banking be sure to check everything. What this means is that you will need to go over the type you are looking for, any fees that are associated with them, the terms and conditions and so on. By taking everything into consideration you can then choose one that will do what you need it to for your business.

To compare the different accounts you may need to go to your local bank that you will be dealing with, and ask them for a list of what they have to offer and all the information that is applied with opening one. Most banks have many different banking systems that are suited for different things like savings, loans, businesses and so on. Most will have fees but depending on the bank and what you may open, sometimes you can gain a fee free account but these are usually for saving purposes.

When comparing the different types be sure to ask the bank if you do not understand anything. Do not set up one if you do not fully understand everything. This may lead you to higher payouts in fees when you may not need to be paying that much and so forth.

So if you are considering opening up an account for all your business banking needs, then why not ask for the information at your local bank so you can compare them to see which one suits your requirements.…

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The Importance of Cord Blood

The Importance of Cord Blood

The blood that stays in the baby’s placenta and remains attached to the umbilical cord even after cutting is what we can call cord blood. It is generally loaded with stem cells and can be used later in life to cure several fatal diseases. Earlier, this blood was not given importance in medicine and no one would store the blood for future medical use. However, the importance of this blood was discovered after thorough research and it is now possible to save this blood. Several banks specialize in the storage of this kind of blood. The reason cord blood is so important is because it has stem cells. These stem cells can regenerate themselves and form other organs, tissues etc. They have natural properties to develop immunity since they are not exposed to virus or any other diseases. The blood is pure and immature, thus it is even better than bone marrow. Research states that almost 80 diseases can be treated with stem cells and it can be used any time in the future. However, these cells have a life span; they cannot be stored for more than 15 years. Nevertheless, technological advancement may increase the storage life of these cells. In this article, we shall discuss the advantages of cord blood.

Advantages

No need for perfect match – Unlike bone marrow this blood does not require a perfect match. It can be used even if there is slight match between the donor and receiver. This is one of the most crucial factors and can prove to be very helpful during emergencies.

No complications – Cord blood transplant or use for medicinal purposes does not involve any risks. Thus, there are fewer complications when this blood is used for treatment. It does not attack the patient’s own tissues, nor does it interfere with treatment.

It is ready to use – The process of collection of this blood is done with extreme care and precaution. It does not require any testing since it is collected and frozen only after proper testing. The blood is readily available and a match can be obtained quickly.

Rich source – Cord blood is a rich source of stem cells. It has ten times more cells as compared to bone marrow. Hence, a lesser quantity can be used for treatment. Moreover, it doesn’t require a perfect match and can save a life. It is a social cause and imagine how good you will feel if you can save someone else’s child. Indeed, a beautiful experience, since you are giving a new life to someone through the act of donating. The procedure for storing is not at all complicated and it can be collected without any disturbance to the mother or baby. The collection process is effortless and risk free.

Think about it, save the cord blood for your own future and for saving many more lives. Take this conscious decision.…

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Trust – What Consumers Really Want From Their Banks

Trust – What Consumers Really Want From Their Banks

Amidst re-branding moves and January sales, new consumer research is showing that banks should really be focusing on how they can rebuild trust between themselves and the UK public before keeping up appearances and offering cash-back to new savers.

Consumer watchdog Which? surveyed over 2,000 individuals in an attempt to gauge what the UK public want from banks in the coming year. More than half of those asked admitted that their New Year’s resolutions were related to saving money, with younger savers (16 – 24 year olds) being the most money-conscious.

However, statistics regarding the customers opinions of their banks were a little more telling, with 77 percent asked stating that those within the industry should have customer trust as their New Year’s resolution. Additionally, 85 percent stated that it is very important that banks listen to their customers, while 83 percent called from the government to listen to both the public and the banks as they work to reform the industry.

The recent Which? findings are part of a wider scheme called the Future of Banking Commission which aims to bring together the opinions of the public, government, banks and others in an effort to better the financial sector.

The outright call from the public for banks to put trust at the forefront of their New Year’s plans is a positive finding and good first step for the unique commission which aims to give a voice back to those who have been hit hardest by the banking crisis – especially after a succession of reports have been published without any public opinion.

The data comes ahead of four events throughout the year in which customers, bankers, MPs and businesses will all be able to express their opinions on the future of the sector before a report is published later in the year. Hopefully then, the ultimate goal of the report and the commission for renewed consumer confidence in the banking system as the UK moves out of recessionary times will be realized.…

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Secure And Private Offshore Bank

Secure And Private Offshore Bank

There are four types of people who need an offshore bank account: Independently wealthy individuals, Expats making,significant money, Active investors who day-trade the global market with an IBC (International Business Company), and global entrepreneurs who own and operate a business in the International marketplace. The primary reason these people require an offshore bank account and trust structure is: Privacy – to protect them from the litigious environment onshore, as well as the issues surrounding identity theft, or worse still is the snooping of government agencies.Unfortunately though, the offshore bank secrecy that was enjoyed for so many years by the uber-wealthy, is increasingly a thing of the past.

The recommended remedy for diminishing offshore bank confidentiality is to create a Trust, often referred to as an APT (asset protection trust). The main promise fulfilled by a properly created trust is; Privacy, and in today’s world the privacy from probing government agencies can be the most valuable of all forms, however the main benefit of the offshore structure is as an investment vehicle for the global markets and offshore investments. In most offshore jurisdictions, very little information about an APT is registered with the government. The actual terms of the trust agreement and the parties involved need not be disclosed. Most of the registration information filed is not available to the public. If there is any public record, it may be no more than a registry of APTs by name, date of creation and the name of the local trustee. This does not reveal the trust grantor or the beneficiaries. In these privacy conscious countries, a trustee is allowed to reveal information only in very limited circumstances, and then, usually, only by local court order. In the last few years, offshore banking has found new solutions to overcome the problems of loss of privacy. The APT is the key, coupled with online access to offshore bank accounts, giving the customer the ability to wire-transfer money anywhere, in any currency, or to load debit cards and transfer money easily from one private account to another, no-matter what happens with bank secrecy laws in the offshore world.

The beauty of having a bullet-proof APT with offshore banking is the access it provides you to world-class offshore investment products, global stock markets, futures and options, or even precious metals, all the while avoiding the headaches of onshore regulation and the minutia of reporting. This provides a true vehicle for protecting yourself and your family from another financial crisis. You will enjoy peace of mind knowing the your APT and offshore bank account have been created, and as time goes by, whether or not the bank secrecy laws become more strict, you will have the freedom to manage your wealth offshore in any matter you see fit. Creating your APT and funding your offshore bank account could very well turn-out to be one of the best financial decisions you ever make.…