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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jul 22, 2004
Page
13
New York experts warn delaying college savings harms a child’s options and later finances. David Braverman of Standard & Poor’s urges early 529 plans, noting tax advantages and high loan exposure. He cites up to 55 000 dollars yearly gift flexibility, but warns tax-free withdrawal rules expire in 2010.
Thirty five years after his last con Frank Abagnale now helps banks and law enforcement as a fraud consultant. Speaking in Orange County he warned that identity theft phishing and online banking pose key risks and urged businesses to strengthen internal controls and monitoring to thwart criminals.
The Orange County Register outlines practical defense advice from Frank Abagnale. Use yel instead of ink on checks to thwart forgers. avoid toner prints and use non toner printers or large fonts. Do not use Social Security numbers for identifications with insurers hotels or airlines. Monitor credit with alert services and lock blank checks. In business, use restricted stock and ask banks about positive pay. Shred sensitive docs and deposit slips. remove executives signatures from electronic reports to prevent fake checks.
Federal Reserve Chair Greenspan said Bush tax cuts aided a mild recovery, but urged Congress to offset new spending with cuts or tax increases to avoid rising deficits hurting growth. He warned of faster inflation if needed, and backed pay go rules as lawmakers extend tax cuts for two more years.
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