With cybercrime costing the finance sector an estimated $2.5B last year, firms are buying new...

With cybercrime costing the finance sector an estimated $2.5B last year, firms are buying new Internet domain suffixes as part of their attempts to prevent scammers deceiving customers into giving them their confidential details with bogus Web sites that look authentic. The new suffixes include dot-citi (C), dot-bofa (BAC) and dot-barclays (BCS), with COF, JPM and American Express (AXP) also buying addresses.

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Comments (5)
  • Brian Bobbitt
    , contributor
    Comments (2083) | Send Message
    I look at all the problems of this world, and crime tops the list. I don't mean the dark alley crime against tourists in a strange city or break-ins. I am talking about the mugging we get from our politicians, scientists and these dot.com'ers.


    How can you fight crime? Too simple. First, declare war against crime and I don't mean a political football. I am talking about Elliot Ness crime busters, and courts that put them away for ever. There are perps out there that have been arrested myriad times yet to be released again upon the poor unsuspecting working man.


    The three time loser law is ignored due to the fact we have no prisons and no funds to handle the ones we do have so they actual let them go.


    What BS, like our tax system, our penal system is broken and only a convention to stop it will stop it.


    Deal with crime as a total all out war, make not worth doing and it will fade back to the dark alleys. (Never gonna go away)


    If I were smarter, I would run for President. Things would change real quick.


    Capt. Brian
    The Lost Navigator
    17 Aug 2012, 07:30 AM Reply Like
  • Ted Bear
    , contributor
    Comments (700) | Send Message
    Hell, John Corzine did it the 'old fashioned' way, and nobody seemed to care about that either. No need to be particularly 'sophisticated.' Just say 'i don't know', and the regulators/ law enforcement guys go 'okay'.
    17 Aug 2012, 07:56 AM Reply Like
  • bernie 1
    , contributor
    Comments (673) | Send Message
    You can build a hundred prisons,you can make it a death penalty crime,& you still won't stop this. WHY ?
    Willie Sutton (for those to young to know of him) a 50's dapper & articulate crook said when he was asked at his trial,
    "Why do you rob banks ?"
    "Because that's where the money is"
    They just don't make classy crooks anymore !
    17 Aug 2012, 09:15 AM Reply Like
  • bill d
    , contributor
    Comments (1893) | Send Message
    re They just don't make classy crooks anymore !
    Oh yes they do - they just have new names now - CEO, CFO, etc
    17 Aug 2012, 03:42 PM Reply Like
  • bernie 1
    , contributor
    Comments (673) | Send Message
    bill d, let me give you a little background on what it was & is like today . We started my company in N.Y.C. in 1967. We were 25 N.Y. medallion taxi owners that wanted a safer more profitable way to do business. First came the 2 way radio,& then even the first phone in the car. Every passenger we picked up on the street we gave a business card to & told them in no uncertain terms we don't care if you live in Greenwich Village or Greenwich Conn., if you call we will pick you up & deliver you quickly & safe. Our earliest firms that we dealt with were the (almost all) financial printers, the white bread law firms,insurance companies, & businesses that handled work in the financial circle. Of course we got the garment center business,show business, & just folk who were given our business cards & were willing to pay a fee for service.
    From the law offices , to the printers we got the deals (there wasn't even a cover letter to hide said deals). We were there before the courier services, in fact we taught them how to deliver ,a package or envelope in minutes instead of hours or days. After awhile we drove the corridor between Boston & Washington DC . I can't even remember how often I drove to Lancaster Penn. to the RR Donnelly plant. (They were known as the printers of the Sears catalogues & the Telephone books). But they started a financial printing division which became a giant.
    So many deals,so much work that by the mid- 70's we were doing over 25 million a year. We had to buy two side by side buildings to accommodate the drivers for hanging out & a computer section (one of the early small business to do the work more efficiently.
    Ivan Bosky & Dennis Levine would hand us an envelope twice a week & we would bring it to Laguardia or JFK & hand it off to the Captain of the plane to be delivered to the Beverly Hills office of Michael Milken. By the 80's Bowne & Co. printers (the oldest printer still in business from 1776) had a deal for time daily on a satellite & Europe was now in the loop.
    Everybody up & down the food chain made money. The higher up you were the more you made. Even the janitor at one printer made about 200,000 bucks on just one deal that he heard about.
    I remember driving up to Ivan Bosky's home in Westchester County. From the entrance electric gate to the main house I drove 10-12 miles an hour & it took 10 minutes. He was a billionaire when millionaires were rich. Yet he did an insider deal that netted him maybe no more than 70 thousand bucks or so. Why did he do it? Not because he needed another 70 grand,he did it because he could. Martha Stewart got her insider tip & she did it. Drivers did it because why get the info. if you can't use it? One early morning before our messengers came to work I had to go to Goldman Sachs building on Broad Street to deliver about 10 different deals from the printers. Just in the elevator ride up,I heard of at least 5 deals that these lawyers were working on. There were no secrets among the insiders.
    With this long story,I just wanted you to know that the reason it was so open & flagrant was that they were NUMBERS, if they were using cash something like this would never have happened. Of course working in the millions wasn't feasible,so when any of us looked at them they were just NUMBERS, & that made it easier to do.
    bill d, from tulips in the 17 th century to Boss Tweed,Ponzi,Bosky & Madorff, greed is the carrot & the ease to get it was the stick.
    It's not just the CEO's & CFO'S that do it,it's every aspect of business, because , "THAT'S WHERE THE MONEY IS ".
    Sorry for it being a little long winded,my wife always tells me that what can be said in a sentence,I can say in a page or two!
    Stay well
    After doing this for 30 years,I realized that the business had changed & it wasn't fun anymore. I sold my position in the company & lived in Manhattan,had a place on the East end of the Hamptons & we traveled from Bali to Egypt & all places inbetween.It was an amazing career that I had the pleasure to talk to them all,from Chief Justice Goldberg,to many Governors & Mayors. I heard a Senator from the mid-west openly ask a printers sales manager for a cash return for him on the State Bond business that he brought in. As it was then,it is now, if they can get it (Sen. Dodd getting a special mortgage from Countrywide,to Sen. Shumer getting a private jet ride from DC to New York. Everyone in the circle has a hand out for the honey.
    19 Aug 2012, 08:30 AM Reply Like
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