In a recent event, software major Microsoft Corp has filed a lawsuit against three individuals based in Vancouver, accusing them of breaching Microsoft's adCenter contract through a click fraud to make profit.  The suite was filed in a U.S. federal court in Seattle against the three individuals- Eric Lam, Gordon Lam and Melanie Suen, and companies that they control. According to sources Microsoft suffered a loss of $750,000 due to the click fraud scheme.
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NEW DELHI/WASHINGTON - India's software industry has opposed a US bill that seeks to make it mandatory for American companies to fill vacancies with locals before turning to skilled foreign workers. 'The stated objective of the bill is to prevent fraud and visa abuse. However, several of the provisions of this bill are against the principles of free trade and are creating trade barriers,' said Som Mittal, president of the National Association of Software and Services Companies (Nasscom).

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HCL Technologies profit down by half on forex loss

MUMBAI, India — Indian software services firm HCL Technologies Ltd. said quarterly profits plunged by nearly half as the company battled foreign exchange losses, lower prices, and declining demand from financial services and telecom customers.The company said Wednesday that it earned $43.0 million in net income during the quarter ended March 31, versus $85.4 million during the same period a year earlier. Excluding foreign exchange losses, the decline in profits was 2.4 percent.

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Tech Mahindra Limited, which is taking over Satyamomputer Services Limited in a deal worth about 580 million dollars, has said that it would run the fraud-hit outsourcing firm as a standalone unit. Tech Mahindra said its immediate priority was to retain and win back lost clients of Satyam and the company intended to meet key customers across the world.

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Tech Mahindra deposits $582M for Satyam stake

MUMBAI, India — The new owners of Satyam Computer Services Ltd. made their first visit to the company's Hyderabad headquarters Monday, speaking with employees just hours after depositing $582 million to buy a 51 percent stake in the troubled outsourcing giant.

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IT major Tech Mahindra, which needs to pay Rs.1,756 crore for acquiring 31 percent stake in the troubled IT firm Satyam Computer Services, Saturday said it has raised Rs.600 crore through debt instrument.The government-appointed board of Satyam Monday named Venturbay - a subsidiary of Tech Mahindra - as the winner of the auction to sell a majority stake in the fraud-hit IT giant.Under the share subscription agreement signed by the winning bidder and the board, Tech Mahindra will have to deposit the bid amount in an escrow account by April 21.

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WASHINGTON - Last year, one out of 13 people lost money due to internet fraud and identity theft, says a recent report. However, you can insure your password and data by following these easy-to-follow tips.Always keep the cyber thieves guessing. Never use personal information to create a username, login or password. It could be the name of your pets, relatives, nicknames, dates of birth, etc.Identity theft experts have become savvy at ferreting out these details. Hence, it is crucial to choose usernames and passwords that have nothing to do with your personal history.

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MUMBAI - It was with a sense of satisfaction and achievement that the six-member board of Satyam Computer Services Monday announced the virtual 'rebirth' of the crisis-ridden software giant, hoping its future would now be sound and secure.

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BANGALORE - India's fourth largest software exporter Satyam Computer will get a new buyer Monday, a little over three months after its founder B. Ramalinga Raju shocked India Inc by admitting massive financial fraud of Rs.7,800 crore (Rs.78 billion).

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Be prepared to protect your data in the internet or else you may land up in serious trouble. With our increasing dependency over the internet, the crimes have taken a steep hike too. According to a recent report, 10, 20, 33% crime rate has increased making 2008 the biggest year ever for reported cybercrime incidents.

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