$2 million prize for hackers!

Wanted: hackers!
If Sen. Alan Peter Cayetano’s resolution is to pass, the Commision on Elections (COMELEC) will soon be inviting hackers to hack the poll automation machines set to be used for the 2010 Philippine national elections.
The prize for the hacker who can beat the computerized system? Around P100 million or US$2.083 million.

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New scam using fake Paypal email

A Pinoy Money Talk (PMT) member emailed me yesterday to ask whether a Paypal transaction she is planning to enter into is a scam or not.

Apparently, some guy supposedly from the UK contacted her asking help to transfer Paypal funds. The guy claims he plans to visit the Philippines and needs help moving funds to the country.

This should already raise a red flag. Never, ever agree to such transactions because you may unwittingly be a conspirator to money laundering. A suspiciously large amount being withdrawn to a Philippine bank account raises the bank’s alarm and if you could not properly explain how you got the amount and why you are transferring money, you may be charged under the country’s Anti-Money Laundering Law.

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