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How to Sell Security

2008-05-26 05:57:29 by schneier in Schneier on Security
 
...losses. We have evolved a cognitive bias: a pair of heuristics. One, a sure gain is better than a chance at a greater gain, or "A bird in the hand is worth two in the bush." And two, a sure loss is worse than a chance at a greater loss, or "Run away and live to fight another day." Of course, these are not rigid rules. Only a fool would take a...
 
Tags: security, loss, risky loss, risky larger loss, gain, risky larger gain, security purchase, directly, security directly
 
 
 
 
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The Fox and the Henhouse

2008-01-28 15:02:17 by Burton Group in Security and Risk Management Strategies Blog
 
...losses due to the activities of one of the bank's derivatives traders Societe Generale apologized for the losses, and explained a three-day delay in announcing the fraud publicly by saying that bank officials needed time to unwind as many of the fraudulent positions as possible in order to limit the bank¹s losses Although Societe Generale...
 
Tags: societe generale, societe generale begins, yesterday societe generale, societe generale appears, risk management lessons, risk management, risk management personnel, plain vanilla futures, apparently
 
 
 
 
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The Fox and the Henhouse

2008-01-28 15:02:17 by Burton Group in Security and Risk Management Strategies Blog
 
...losses due to the activities of one of the bank's derivatives traders Societe Generale apologized for the losses, and explained a three-day delay in announcing the fraud publicly by saying that bank officials needed time to unwind as many of the fraudulent positions as possible in order to limit the bank??s losses Although Societe Generale...
 
Tags: societe generale, societe generale begins, jerome kerviel, kerviel, yesterday societe generale, apparently, bank apparently, bank, prevent kerviel
 
 
 
 
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New Banking Code shifts more liability to customers

2008-04-09 14:08:49 by Steven J. Murdoch in Light Blue Touchpaper
 
...losses If you act fraudulently, you will be responsible for all losses on your account. If you act without reasonable care, and this causes losses, you may be responsible for them. (This may apply, for example, if you do not follow section 12.5 or 12.9 or you do not keep to your accounts terms and conditions Clauses 12.5 and 12.9 include...
 
Tags: code, customers, banks, fraud-detection algorithms, fraud, code claims, electronic fraud, code deals, fraud threat
 
 
 
 
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Risk Preferences in Chimpanzees and Bonobos

2008-04-17 06:20:51 by schneier in Schneier on Security
 
...losses: Evolutionarily, presumably it is a better survival strategy to -- all other things being equal, of course -- accept small gains rather than risking them for larger ones, and risk larger losses rather than accepting smaller losses. Lions chase young or wounded wildebeest because the investment needed to kill them is lower. Mature and...
 
Tags: risk preferences, risk, relative risk preferences, risk-prone behaviour, approach, people approach risk, people, losses, risk larger losses
 
 
 
 
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UltimateBet cheating goes undetected for almost 21 months

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2008-06-04 10:55:17 by Evan Francen in The Breach Blog
...losses once the investigation is complete Evan] I wonder how expensive this will be The usernames that were used to cheat are: NioNio, Sleepless, NoPaddles, nvtease, flatbroke33, ilike2win, UtakeIt2, FlipFlop2, erick456, WhackMe44, RockStarLA, stoned2nite, monizzle, FireNTexas, HeadKase01, LetsPatttty, NYMobser, and WhoWhereWhen The...
 
Tags: ultimatebet, tokwiro enterprises enrg, tokwiro enterprises, ultimatebet issues statement, ultimatebet prior, ultimatebet subsequently, ultimatebet immediately removes, ultimatebet servers, ultimatebet statement
 
 
 
 
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Hedge Funds Semantics

2006-08-25 01:48:00 by Jomni in Risk Management Quant
 
...losses as other instruments. Moreover, derivatives are leveraged and losses are potentially greater than conventional assets. The hedge only takes shape if the hedging instrument is taken together with another position, and their reaction to changes in market factors should cancel each other out Hedge funds act in the same way. Taken alone,...
 
Tags: hedge, hedge funds, hedge funds act, funds, conventional funds, assets result, assets, risky investments, conventional assets
 
 
 
 
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ARCO gas pumps targeted by fraudsters

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2007-12-27 13:58:30 by Evan Francen in The Breach Blog
...losses have already surpassed $30,000, with unauthorized withdrawls taking place all across the U.S Reference URL KNBC-TV News Story KCAL 9 News Story Whittier Daily News Story Report Credit KNBC-TV Response From the online sources cited above Law enforcement authorities are searching for whoever skimmed debit card information from at...
 
Tags: arco gas pumps, pumps, gas pumps, arco, gas stations, arco gas stations, card, debit card identification, creditdebit card data
 
 
 
 
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China's CERT Annual Security Report - 2007

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2008-04-21 02:34:07 by HASH0x8b2001c in Dancho Danchev's Blog - Mind Streams of Information Security Knowledge
...losses; In addition, the Trojans also increasingly being used to steal state secrets and secrets of the state and enterprises incalculable losses, the Chinese mainland are implanted into the Trojan Horse computer controlled source, the majority in China's Taiwan region, the phenomenon has been brought to the agency's attention. Zombie network...
 
Tags: china, internet infrastructure, chinese internet infrastructure, chinese, zombie network flow, zombie network, interestingly chinese, infrastructure, chinese underground economy
 
 
 
 
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Model Validation - Not Just for Quants

2006-12-26 05:10:00 by Jomni in Risk Management Quant
 
...losses from model risk are often caused by poor governance of the wider modeling process, or by a poor understanding of the assumptions and limitations surrounding the model results, rather than by errors in equations The growing importance of models in helping executives answer some of bankings most critical questions from compliance and...