PMFBancorp.com

March 2007


Monthly Market
UPCOMING PMF EVENTS


TUE | MAY 22

Economic Policies of Banking and Finance Affecting SMEs in the U.S. and China
7:30 - 10:30 AM

TUE | JUL. 24

Inside Info you need to know to conduct business in Shenzhen and Shanghai
7:30 - 10:30 AM

TUE | SEPT. 25

How to Decide whether to Source or Manufacture Direct in China
7:30 - 10:30 AM


TUE | DEC. 4

New Business Policies in China Creating Opportunity for U.S. Business
Seminar starts at 4 PM, Holiday Cocktail party to follow.


Trends in Trade Finance and the Finance Solutions for Small Businesses in a Global Environment
Trends in trade finance have changed over the many centuries going back to the Phoenician Times when Maritime trade had just truly developed. But due to Globalization and other key elements, the the manner and trends in which we trade with countries is changing dramatically. Global use of Letters of Credit has diminshed as a financial instrument and is used in only 30% of all trade transactions now and continues to decrease as global trade volume increases. Letters of Credit are expensive, complicated, and limit the amount of business many small to medium size businesses can perform due to cash-flow. On March 27th at the City Club on Bunker Hill, Mr. Stephen Perl, CFO of 1st PMF Bancorp's U.S. and China Operations presented as the keynote speaker for the "Doing Business With China" Seminar Series on The Future Trends of Trade Finance and presented solutions for the small business' trade financing needs. To hear the MP3 Version of the Presentation, please click here.

Trade Finance at Regional Banks: What Are the Options?
In a new report, Trade Finance at Regional Banks: What Are the Options?, Celent, a research and consultant firm, examines the strategic options for regional banks that want to remain in the trade finance business. The report explains why the question of trade finance’s future is crucial, and it provides detailed information and analysis of the strategies to revamp trade finance departments (especially centralizing trade finance operations) and the steps to implement it. The report also includes three short case studies of trade finance strategy.

According to Axel Pierron, Celent analyst and author of the report, “Leading trade finance specialists, such as ABN AMRO, JP Morgan, and the like, are betting on acquiring market share from regional banks either in a friendly way by insourcing other banks’ trade finance operations and in a more aggressive way by starting a war on price and services. This leaves many regional banks puzzled about what should be their trade finance strategy, and wondering if there is a future for them in that business.”

The banking community feels the winds of change in the trade finance business. Very few banks, regardless of their size, are doing nothing to change their trade finance operations. According to their future strategy regarding trade finance, banks have three main choices: centralising trade finance operations, outsourcing trade finance operations, or doing nothing. For the complete article, please click here.




Remember when "Banks say NO, PMF Bancorp says Yes!". For more info on 1st PMF Bancorp's Working Capital / Lines of Credit, Minority Loan, Factoring, Purchase Order and/or Trade Financing Programs, please feel free to contact us via email or the telephone (310) 858-6696

For more info on our services in U.S. and China, please visit our sites below:
1st PMF Bancorp (USA) (310) 858-6696 x204.
Baoli Investments (PMF's China Subsidiary)
Visit our websites at :
www.PMFbancorp.com.cn (China)
www.PMFbancorp.com(U.S.)

In Quotes___________

“Opportunities multiply as they are seized.”
- Sun Tzu

Exec Tech Tools___________

How To Not Get Hacked

Pitfalls of Wireless Networking

Without knowing the details of your wireless network, you may be leaving the door open to your system and all of your files. Even the dilettante hacker can bypass many of the flimsy security protocols of many wireless routers today. Now more than ever, it's important to know how not to get hacked. There are layers of security you can place on your wireless network, as well as the effectiveness of each layer. We are going to draw a parallel between your wireless network and your home:

Types of Security

Leaving the door to your house open as a veritable invitation to theives:

  • Broadcasting a default SSID
  • No MAC filtering
  • No encryption
  • DHCP switched on/No access controls

Shutting your front door, but leaving it unlocked:

  • Changing the SSID (the name) of your network and disabling SSID broadcast. An experienced hacker will discover this, so it only protects you from the fly-by-night who’s in a hurry.
  • Disabling DHCP/Access Control. A hacker with mininal knowledge will have the tools that will sniff out available IP addresses on your network.
  • MAC address filtering. With a little work, your MAC address can be cloned--and the one responsible will see everything you see on your network.

Locking the door with a Schlage you bought from Home Depot:

  • WEP: Wireless Encryption Protocol is standard with many wireless routers and can be hacked in seconds using free tools that are widely available.

Bolting the door, buying a rottweiler and installing an alarm system:

  • WPA: A randomized pre-shared key of at least 10 characters would take half-a-million years to crack. More info about this below.

First, it's good to note that a random key means that it shouldn’t be a word that exists in any dictionary. Hackers have extensive dictionaries that include all common passwords, English words, nicknames, and misspellings of words. This is called a “dictionary attack.”
(A random key is a meaningless mix of lower- and uppercase letters and numbers, and sometimes special characters like punctuation, depending on whether your router supports it).

If you’re not sure how to get a random key, you can find it easily on the web. There is software that will generate a key for you (type “software generate wpa key” into your favorite search engine).
It’s best to build up each type of security in layers, checking that all devices can connect and communicate at each step before adding another layer.
Make sure you read your router’s manual to ensure you’re storing the settings correctly (some routers require you to save the settings each time you make a change or the changes will be lost).

As times change, so do the threats. Stay secure!


1st PMF BANCORP - "Family run and Financing the World Since 1985"

Ofc: (310) 858-6696
Fax: (310) 273-6936

www.PMFBancorp.com

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