World
Air India enforces stricter baggage rules in UAE
Passengers travelling by Air India and Air India Express from the United Arab Emirates (UAE) would face stricter rules on hand baggage from July 1.
 
"The free allowance for hand luggage would be restricted to eight kg on Air India and seven kg on Air India Express, inclusive of duty free items," Khaleej Times reported on Sunday.
 
"If the baggage weighs more than the free allowance, a fee of 60 Dirhams ($16) per excess kilo would be charged at the gate," said Prem Sagar, manager of Air India and Air India Express in Dubai and Sharjah.
 
"Most other airlines flying to India have already been charging excess baggage at the gates."
 
"Passenger hand baggage is assumed to be around seven to eight kilos whereas people sometimes carry 10-15 kg extra. An aircraft overweighed by two tonnes is not good for the aircraft's safety."
 
So far, UAE passengers flying on India's national carrier and its budget airline have enjoyed the luxury of carrying duty free items beyond the free allowance of hand baggage.
 
However, very often this went up to several kg and became a concern in overloading the aircraft.

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Nandkumar Saravade to head Data Security Council of India
Nandkumar Saravade will take over as full-time chief executive officer (CEO) of the Data Security Council of India (DSCI) from July 1, a statement said here on Monday.
 
He will take over from the current officiating CEO, Rama Vedashree, vice-president of NASSCOM. 
 
The DSCI is a premier industry organisation on data protection in India, set up by NASSCOM.
 
Saravade was, until recently, working as an independent advisor on fraud and security to Ernst & Young (EY) and ICICI Bank. Till September 2013, he was the South Asia head of security, investigation and vigilance function for Citibank.

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How even savvy investors fall prey to frauds
Even tech-savvy and careful investors who are watchful about corporate malpractices and keep track of the distress signs often fall prey to frauds, finds a recent study.
 
These investors end up tracking the wrong warning signs -- meaning the warning signs they look for are clear only after it is too late to protect their investment, the study found.
 
"Individual investors get hurt if they own stock in fraudulent companies that cook the books, such as Enron. But we wanted to know how investors think about fraud and whether they try to protect themselves," said lead author Joe Brazel, a professor of accounting at North Carolina State University.
 
The researchers surveyed 194 experienced, non-professional investors from 38 states about fraud and their investment activity.
 
They asked if the investors looked for specific red flags that can be indicative of fraudulent activity, such as abnormally high revenue growth, a change in the company's auditor, or the launch of an investigation by the US Securities and Exchange Commission (SEC).
 
The researchers found two common factors among investors who are concerned about fraud.
 
First, if investors think corporate fraud is a common practice, they are more likely to place importance on assessing fraud risk when making investment decisions.
 
Second, investors are more likely to assess fraud risk if they rely primarily on financial statements to make investment decisions, rather than other sources like news reports or advice from professionals.
 
Most non-professional investors are not diversified and hold shares in only five to 10 companies at a time.
 
"That means these investors are more likely to get hurt if they hold shares in a fraudulent company," Brazel said.
 
"We found that 25 percent of all survey respondents had been burned by fraudulent companies."
 
Another surprise was that investors were relying on late-stage red flags, such as an SEC investigation. The stock may already have dropped in value by the time these red flags appear.
 
"If you are waiting for an SEC investigation or a lawsuit before selling your shares, you are tracking the wrong red flags," Brazel said.

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