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Study examines IP crime finance

study examines ip crime finance

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By Colin Mann July 6, 2020
A new project from international defence and security think tank the Royal United Services Institute for Defence and Security Studies (RUSI) is to examine the structure and disruption of illicit finance flows from intellectual property (IP) in the United Kingdom.
The Institute says that IP crime poses a security threat to the UK, and is increasingly carried out by sophisticated, networked organised crime groups (OCGs) capable of operating across multiple jurisdictions.
This project will examine the landscape of criminal activity around intellectual property crime, including criminal structures, the role of businesses and institutions in preventing, combatting and regulating intellectual property crime. In particular, it will explore the financial business models of organised crime groups involved in illicit streaming, piracy and the counterfeiting of related merchandise.
IP crime has historically been perceived as a relatively harmless and ‘victimless’ crime. This is despite OCGs involved in IP crime frequently being linked to other offences such as fraud, loan sharking and drug dealing. For law enforcement, IP crime has traditionally been a low priority, with limited understanding of the manner in which OCGs earn, launder and use the proceeds of IP crime.
Culminating in a report for policymakers and …

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Sallie Krawcheck: Coronavirus pushing gender wealth gap backward at a faster pace

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Wall Street veteran Sallie Krawcheck says the gender wealth gap has gone backward during the COVID-19 crisis, at a rapid pace. Krawcheck, the CEO of women-led and focused investment platform Ellevest, is a vocal advocate for female financial empowerment. Throughout the outbreak, her firm has doled out free financial advice and coaching for women, encouraging them to invest more.She explained to Yahoo Finance that the pandemic — which is impacting workers at all income levels — is exacerbating unfavorable socioeconomic and gender trends.“We talk a lot about the gender pay gap — 82 cents [for a woman] to a white man’s dollar,” she said last week. “The gender wealth gap, so, how much women have, is 32 cents to a white man’s dollar. For black women, it’s a single penny. And we’re going backwards in the pandemic.” According to a new poll from Harris and Yahoo Finance, women feel far less confident about hitting their investing goals than men. Only 4% of women surveyed feel “very confident,” compared to 32% of men, while 47% reported feeling “fairly confident” versus 60% of male respondents. What’s more, as the COVID-19 pandemic wrecked the economy, women — particularly females of color — have been disproportionately affected by …

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ASX to fall at open; Finance Minister to leave politics

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Melbourne public housing blocks go under lockdown; Matthias Cormann to leave politics. (Source: Getty)MoreGood morning.Here’s Yahoo Finance’s Monday morning wrap:ASX: The stock market is slated to be off to a bad start as Europe reimposed lockdown restrictions amid rising second waves of Covid-19. Nine housing commission blocks in Australia are under lockdown, too, which has been criticised as ‘ham-fisted’.Federal Finance Minister Matthias Cormann will leave politics at the end of the year.”I will be there to help guide our government and Australia out of this crisis,” Senator Cormann told reporters.”And I will be there to help set the plan and the trajectory for the future. But there will be other very talented people who will take over the baton and run with it.” Here’s more on that.This question isn’t going away: What will happen after government support and stimulus ends? Deloitte has been pushing for something they call ‘JobTweaker’.“Families are struggling with the toxic trio of high debt, high unemployment, and low confidence,” said Deloitte Access Economics partner Chris Richardson. “More dollars are needed.” Here’s Yahoo Finance’s explainer on JobTweaker.Closing sales over Zoom: For many …

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EnerSpar Updates Extension for Filing Financial Statements and Related Documents and Updates on Previously Pending Mindfull Transaction

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Calgary, Alberta–(Newsfile Corp. – July 5, 2020) –  EnerSpar Corp. (TSXV: ENER) (FSE: 5E0) (“EnerSpar”) confirmed today that it is continuing to take advantage of the 45 day extension available for filing quarterly financial statements and related materials in ASC Blanket Order 51-517 which is expected to conclude with the required filings being done by July 14, 2020.EnerSpar also reports that it has been informed that Mindfull has filed a Notice of Intention to file a Proposal under the Bankruptcy and Insolvency Act and to disclaim the Transaction under the Business Combination Agreement (as Extended) announced Feb. 21, 2019. EnerSpar has not received any details from Mindfull but must infer that the Transaction will not Close or be further extended and that EnerSpar will be a significant creditor in Mindfull’s Proposal.About EnerSpar:EnerSpar is a TSX Venture Exchange Tier II listed exploration company focused on industrial minerals oriented to today’s and future energy requirements. Potassic feldspars are especially significant as a hardening agent in solar panels.Additional InformationAdditional information regarding EnerSpar is available on SEDAR and EnerSpar’s website at www.enerspar.com.ON BEHALF OF THE BOARD OF DIRECTORS:Jay Richardson, Chief Executive Officer and DirectorContact: info@enerspar.comToronto Office: 416-410-JAYR [5297].READER ADVISORYCompletion …

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Got change?: Temporary shortage has financial institutions asking customers to cash in their coins

got change?: temporary shortage has financial institutions asking customers to cash in their coins

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Is WSFS Financial Corporation (WSFS) Going to Burn These Hedge Funds?

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At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards WSFS Financial Corporation (NASDAQ:WSFS) at the end of the first quarter and determine whether the smart money was really smart about this stock.WSFS Financial Corporation (NASDAQ:WSFS) investors should be aware of a decrease in hedge fund interest recently. Our calculations also showed that WSFS isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.According to most market participants, hedge funds are perceived as slow, old financial vehicles of yesteryear. While there are greater than 8000 funds trading today, Our experts hone in on the bigwigs of this group, approximately 850 funds. These investment experts manage most of the smart money’s total capital, and by …

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Is Ellington Financial Inc. (EFC) A Good Stock To Buy?

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How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of capital and have to conduct due diligence while choosing their next pick. They don’t always get it right, but, on average, their stock picks historically generated strong returns after adjusting for known risk factors. With this in mind, let’s take a look at the recent hedge fund activity surrounding Ellington Financial Inc. (NYSE:EFC) and determine whether hedge funds had an edge regarding this stock.Is Ellington Financial Inc. (NYSE:EFC) worth your attention right now? The smart money was in a pessimistic mood. The number of long hedge fund positions shrunk by 1 recently. Our calculations also showed that EFC isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.Hedge funds’ reputation as shrewd investors has …

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HALL DEADLINE: Bronstein, Gewirtz & Grossman, LLC Reminds Hallmark Financial Services, Inc. Investors of Class Action and Lead Plaintiff Deadline: July 6, 2020

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New York, New York–(Newsfile Corp. – July 5, 2020) – Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Hallmark Financial Services, Inc. (“Hallmark” or “the Company”) (NASDAQ: HALL) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Hallmark securities between March 5, 2019 and March 17, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/hall.This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over accounting and financial reporting related to reserves for unpaid losses; (2) the Company improperly accounted for reserve for unpaid losses and loss adjustment expenses related to its Binding Primary Commercial Auto business; (3) as a result, Hallmark Financial would be forced to report a $63.8 million loss development for prior underwriting years; (4) as a result, Hallmark Financial would exit from its Binding Primary Commercial Auto business; and (5) as a result, defendants’ statements about its business, operations, …

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Chemung Financial’s (NASDAQ:CHMG) Stock Price Has Reduced44% In The Past Year

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Chemung Financial Corporation (NASDAQ:CHMG) shareholders should be happy to see the share price up 11% in the last week. But that doesn’t change the fact that the returns over the last year have been less than pleasing. In fact the stock is down 44% in the last year, well below the market return. View our latest analysis for Chemung Financial To quote Buffett, ‘Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace…’ One way to examine how market sentiment has changed over time is to look at the interaction between a company’s share price and its earnings per share (EPS).Unhappily, Chemung Financial had to report a 31% decline in EPS over the last year. This reduction in EPS is not as bad as the 44% share price fall. This suggests the EPS fall has made some shareholders are more nervous about the business. The less favorable sentiment is reflected in its current P/E ratio of 9.73.The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). NasdaqGS:CHMG Earnings Per Share Growth …

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Where To Get Financial Help During Coronavirus In California — And Is It Enough?

where to get financial help during coronavirus in california — and is it enough?

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From hotel rooms for people who are homeless to restaurant meals for seniors isolating for their lives, California has rapidly expanded its safety net in an attempt to catch millions of residents impacted by the coronavirus and its economic aftershocks.

In daily press conferences during the pandemic’s first months, Gov. Gavin Newsom announced new “first-in-the-nation” plans to protect vulnerable Californians from illness or financial distress at a dizzying pace.

But months in, the pandemic safety net strains and sometimes snaps under the weight of Californians’ needs. People spend hours calling agency after agency seeking help to buy groceries or pay rent. Many fall through the cracks.

Approximately 16 million Californians, or 53% of all adults, have lost income since March 13, according to estimates from a Census Bureau survey conducted in mid-June. An estimated 3.5 million residents report their family lacked enough food to eat, up from 2.7 million before the pandemic. And 3.3 million have slight or no confidence that they’ll be able to pay July’s rent.

Whether California’s safety net response represents the best the state could do to keep its residents afloat or a one-two punch of overpromising and underdelivering may lie in the eyes of the beholder.

For …

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