Ponzis square pegs in insolvency law’s round holes

“It is about time New Zealand law caught up with the slippery slope – and beneficiaries – of ponzi schemes”

“OF ALL the great minds in the world, few can outperform the mind of a Member of Parliament in devising reasons why something cannot be done …. [as illustrated by] Commerce Minister Paul Goldsmith, who has produced an impeccably inactive response to the plight of ponzi scheme victims of fraudster David Ross.”

Dominion Post Opinon Piece (21/01/15) by “Chalkie” – Fairfax Business bureau deputy editor Tim Hunter

Full article xsee: http://www.stuff.co.nz/business/opinion-analysis/65245344/ponzis-square-pegs-in-insolvency-laws-round-holes



David Robert Gilmour Ross, Wellington financier and former head of the Ross Asset Management Ltd (RAM) [In Liquidation from 17/12/12], was sentenced at the Wellington District Court in 2013 to 10 years 10 months’ jail.

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Alleged Islamic hackers target NZ websites

At least two New Zealand websites have been hacked and defaced by a group calling themselves the ‘Team Muslim Cyberforce’.

Both websites front not-for-profit philanthropic ventures – Stephen Tindall’s Tindall Foundation and Zeal’s Live For Tomorrow. They are now back online.

The message that the Team Muslim Cyberforce posted on both websites indicates a connection to Indonesia. Indonesia houses the world’s largest Muslim population.

Zeal Advocacy & Operations Manager Elliot Taylor first noticed the issue when he opened the Live For Tomorrow website himself, as he does on most mornings.

For Full story see: http://www.stuff.co.nz/technology/digital-living/65198165/alleged-islamic-hackers-target-nz-websites

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Warning as cyber-criminals target NZ charities

Cyber-criminals have targeted two New Zealand charities in automated attacks attempting to validate large numbers of stolen credit cards.

Internet watchdog NetSafe [a registered charity]  has warned charities taking online donations to be alert after the attacks on the two organisations, which it did not name.

In the first incident, almost 50,000 attempts were made to rapidly submit fake donations through a website form with the aim being to test which credit cards could be used for subsequent online fraud or sold on to other internet scammers.

More than 2000 successful donations were made resulting in the charity having to enlist the help of their bank and merchant account provider to refund the fraudulent payments.

They also spent time dealing with enquiries from cardholders around the world questioning the transactions.

NetSafe offers advice for charities and website owners. You can also contact NetSafe via their freephone telephone number 0508 NETSAFE or report an incident online at www.theorb.org.nz.

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