Off-topic » not caught by the new regulations. However, i

One evening Cheap Jordan Proto React , during the graveyard shift, an AOL technical support operator took a call from a hacker. During the hour long conversation the hacker mentioned he had a car for sale. The technical support operator expressed an interest so the hacker sent him an e-mail with a photo of the car attached. When the operator opened the attachment it created a back door that opened a connection out of AOL's network, through the firewall, allowing the hacker full access to the entire internal network of AOL with very little effort on the hacker's part.

The above is a true story and it is an excellent example of one of the biggest threats to an organisation's security - social engineering. It has been described as people hacking and it generally means persuading someone inside a company to volunteer information or assistance.

Examples of techniques employed by hackers include:



Unobtrusively observing over your shoulder as you key in your password or PIN.

Calling helpdesks with questions or being overly friendly

Pretending to be someone in authority.



Social engineering attacks can have devastating consequences for the businesses involved. Accounts can be lost Cheap Jordan Proto Max 720 , sensitive information can be compromised, competitive advantage can be wiped out and reputation can be destroyed.

By implementing some simple techniques you can reduce the risk of your organisation becoming a victim or, in the event that you are targeted, keep the consequences to a minimum.



Make sure that all staff Cheap Jordan Legacy 312 , especially non-IT staff, are aware of the risk of social engineering and what to do in the event of such an attack.

Conduct regular security awareness training so that all staff are kept up to date with security related issues.

Implement a formal incident reporting mechanism for all security related incidents to ensure there is a rapid response to any breaches.

Ensure that the company has security policies and procedures in place, that all staff are aware of them and that they are followed.

Put an information classification system in place to protect sensitive information.



Conduct regular audits, not only on IT systems but also on policies Cheap Jordan Future , procedures and personnel so that any potential weaknesses can be addressed as soon as possible.

About The Author

Rhona Aylward has extensive experience in the area of Quality Management and more recently in Information Security Management. She is a qualified Lead Auditor for BS7799 and CEO for Alpha Squared Solutions Ltd.

, raylward@ >Life Insurance. How The New Regulations Affect Policies Written In Trust.
Posted by nick_niesen on October 29th, 2010


In his spring Budget the Chancellor Gordon Brown announced swinging measures to tackle the use of Trusts being used to avoid Inheritance Tax. The immediate reaction amongst the financial and legal fraternity amounted to panic and confusion. Within ten days of the budget speech the estimates of the numbers of people that could be hit by the new anti-trust provisions hit 4.5 million.


Then, following the publication of the draft Finance Bill Cheap Jordan Defy SP , the estimates fell to 1 million people. So, with specific reference to life insurance policies written in trust, what?s happening?


Well firstly before we go any further, we have to make the point that this article is commentating on the position based on the first draft of the Finance Bill ? and it?ll be early July 2006 before that bill becomes law. As I write Cheap Jordan Apex React , the legislation still has to pass through parliament and it?s possible that the situation could change yet again. If it does I will keep you informed.


Within weeks of the budget speech, the Government retreated from its previously held position that all life policies written in trust are caught by the new legislation. The current position is that if your life insurance policy was written in trust before budget day 2006, then the money in the trust remains totally free of tax and fees. The legislation is not now to be retrospective. That?s one headache dispensed with.


However, if your policy was written in trust after the Spring Budget Day in 2006 Cheap Jordan Aero Morph , then the new tax rules do apply.


For most people, the purpose of writing a life insurance policy in trust is to ensure that the policy pays out quickly and directly to where you want the money to go ? often to a mortgage provider to repay the mortgage or to beneficiaries in the family to allow them to spend straight away as they like and tax free. These trusts that break upon death, are not now affected by the new regulations. That?s because only trusts that continue to hold money after the policyholders? death are targeted by the new rules.


New life insurance policies written in trust will now be caught by a tax charge if the policy?s payout makes the deceased?s estate exceed the Inheritance Tax Threshold (IHT) of £285,000 and the policy is written in a type of trust known as an ?interest-in-possession? trust.


Interest-in-possession trusts have been used to hold and invest the money paid out from a life insurance policy and pay the trust?s income to the spouse. The capital then passes to the children on the death of the spouse. Following the budget Cheap Jordan 9 , these arrangements will be subject to a 40% IHT charge when then money passes into the trust for your spouse - plus a 6% tax charge every ten years and an ?exit fee?. These taxes can be avoided if the you give your spouse significant control over the trust, which many people may perhaps not want to do especially if they are in a second marriage with children from previous relationships. The alternative is to use a bare trust as this type of trust is not caught by the new regulations. However, if you do use a bare trust, the money automatically goes to your children when they reach the age of 18.


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