Article: Anatomy of a hedge fund hack

Article - Media, Publications

Anatomy of a hedge fund hack

Laurence Fletcher, 27 April 2021

It was only when John made a final phone call to confirm the transfer of about €10m to his family trust that he realised he was about to fall victim to a highly sophisticated financial scam.

A fraudster had spent two months pretending to be one of John’s business associates in order to gain his confidence and trick him into diverting a standard loan repayment to a different bank account.

Having obtained emails through an earlier hack of a financial services company in Liechtenstein, they studied the habits and conversational style of John’s business associate and then imitated him on email. Continue reading “Article: Anatomy of a hedge fund hack”

Article: Austria extends naked short ban for some financials

Article - Media, Publications

Austria extends naked short ban for some financials

Reuters Staff, 29 May 2012

VIENNA, May 29 (Reuters) – Austria has extended until Oct. 31 its ban on naked short selling of shares in lenders Erste Group Bank and Raiffeisen Bank International and insurers Vienna and Uniqa, the FMA market watchdog said on Tuesday.

The ban had been set to expire on May 31. Only short-term transactions by market makers or specialists are exempt from the ban.

Short sellers sell borrowed shares in the hope they can be bought back at a lower price. Naked short-selling involves selling shares without first borrowing them.

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