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  • "News of the Church," Ensign, Jul 2008, 76-80

    Protecting Family Finances by Avoiding Fraud

    By Karianne Salisbury, Church Magazines

    Karianne Salisbury, "Protecting Family Finances by Avoiding Fraud," Ensign, July 2008, 76-77

    As a young college graduate, Marshall Romney knew very little about investing when he became interested in the money market. After talking with co-workers who were making a profit through gold and silver investments, Brother Romney decided this was the investment for him. He bought a bag of coins, arranged to store the coins with the company he purchased them from, and later used a bank loan to buy more bags.

    Unfortunately, the value of the coins stopped going up and started going down. In addition to getting into debt, Brother Romney discovered the company he invested in had disappeared. They had exploited their customers by selling nonexistent bags of gold, which they conveniently offered to store in their secure warehouse. Brother Romney was a victim of fraud.

    Like many profiting from investment schemes, this company had capitalized on what was a very hot market at the time. But swindlers won't stop there.

    Brother Romney, now a professor at Brigham Young University with a research specialty in fraud, said cases of fraud are becoming more common and are a concern for everyone, including Church members.

    "Today investment fraud comes in all shapes and sizes, but many share similar characteristics that should raise suspicion," he said.

    While any investment holds some level of risk, schemes designed to deceive will often demonstrate a sense of urgency, propose a guaranteed profit with little risk, or persuade by using well-known referrals.

    Sense of Urgency

    An opportunity that requires an immediate response is typically a clear sign of fraud. Someone trying to sell an opportunity may try to persuade by saying it's the chance of a lifetime or only a certain number can participate, but the need for a quick decision means there is little or no time to think about the commitment or to check the background of the investment.

    Elder M. Russell Ballard of the Quorum of the Twelve Apostles emphasized the importance of carefully evaluating financial decisions in a 1987 general conference address.

    "There are no shortcuts to financial security," Elder Ballard said. "Do not trust your money to others without a thorough evaluation of any proposed investment. Our people have lost far too much money by trusting their assets to others. In my judgment, we will never have balance in our lives unless our finances are securely under control ("Keeping Life's Demands in Balance," Ensign, May 1987, 13).

    Fraudsters will try to create a sense of urgency to encourage investors to jump in before various concerns or anxieties can settle. It is important to take the time to carefully consider each aspect of the decision. A quality investment opportunity will be around long enough to allow the time needed to fully contemplate the options.

    Guaranteed Profit, Little Risk

    Who could turn down an investment opportunity with virtually no risk and guaranteed profit? It almost seems too good to be true, and according to Brian Sudweeks, an associate professor of finance at Brigham Young University, it probably is.

    "No one can promise a consistently high specific rate of return, and there are no 'get rich quick' schemes that work on a consistent basis," Brother Sudweeks said. "Guaranteed high returns are never guaranteed or high." But promoters will often propose such ideas, appealing to the desire to see a fast return and immediate profit.

    Brother Sudweeks encourages potential investors to apply two important principles to any investment decision.

    "First, know what you invest in and whom you invest with," he said. "Second, invest only with high-quality individuals and institutions."

    Often a scheme continues to operate simply because investors don't know what they are investing in, only that they see a return. As new investors contribute money, those funds go to pay previous investors, creating a never-ending shuffling of money that eventually collapses.

    Elder Joseph B. Wirthlin of the Quorum of the Twelve Apostles explained in a general conference address in 2004 that members sometimes get caught in notions of greed or selfishness that can lead to unwise and foolish financial practices.

    "Brothers and sisters, beware of covetousness," he said. "It is one of the great afflictions of these latter days. It creates greed and resentment. Often it leads to bondage, heartbreak, and crushing, grinding debt" ("Earthly Debts, Heavenly Debts," Liahona, May 2004, 40).

    Well-Known Referrals

    Most individuals are more likely to participate in an investment opportunity if they know their sister, home teacher, neighbor, or co-worker is also participating. Promoters will often use these examples to appeal to and build some level of trust. While it may or may not be true that these friends and acquaintances are involved, investors cannot responsibly respond to this elevated form of peer pressure.

    "A lot of people don't understand the proper principles of investments and don't want to take the time to research and investigate something," Brother Romney said. "Instead they rely on the fact that someone else has investigated it. When they hear the names of people they know, they automatically assume the research has been done."

    With a countless number of fraud schemes come just as many types of fraudsters. While terms such as swindler or scammer may bring a stereotypical image to mind, there are no set characteristics of someone promoting fraudulent investments. In fact, they may be typical acquaintances from work or church, family members, or close friends, and they may not even know the depth of what they are involved in.

    "Ask yourself if you are interested solely because you know someone else involved," Brother Romney said. "If this is the case, perhaps take a step back and really look into the background of the investment. No matter how trustworthy the source seems, potential investors should never make a decision based solely on the advice of others."

    Avoiding Fraud

    As investment fraud becomes increasingly common, Church leaders have offered counsel to avoid unwise investments and stay out of debt.

    "We again urge our people to avoid unnecessary debt, to be modest in the financial obligations which they undertake, to set aside some cash against an emergency," said President Gordon B. Hinckley (1910-2008) in a general conference address in 2003. "We warn our people against 'get rich' schemes and other entanglements which are nearly always designed to trap the gullible" ("The Condition of the Church," Liahona, May 2003, 4).

    In February 2008 the First Presidency issued a letter to general and local leaders in the United States and Canada with a message to be prudent in managing financial affairs. They offered concern about individuals who may use relationships of trust to promote risky schemes and shared sound financial principles to manage risk: "First, avoid unnecessary debt, especially consumer debt; second, before investing, seek advice from a qualified and licensed financial advisor; and third, be wise."

    Resources exploring the basics of family finances are available on the Church's Web site, ProvidentLiving.org. The site features an online financial course, references to talks from Church leaders, lesson materials, and access to additional resource material.

    Church leaders have warned members to be wise in their investments.

    New Mission Presidents Now in Place

    "New Mission Presidents Now in Place," Ensign, July 2008, 77-78

    Accepting assignments from the First Presidency, 124 new mission presidents began serving on or around July 1, 2008. The missions and their respective new presidents are:

    Mission

     

    New President

     

    Alaska Anchorage

     

    Alan Roy Dance

     

    Albania Tirana

     

    John Martin Neil

     

    Argentina Buenos Aires West

     

    Evrett Wade Benton

     

    Argentina Mendoza

     

    James Blaine Lindahl

     

    Argentina Resistencia

     

    Jorge Luis del Castillo

     

    Argentina Rosario

     

    Jorge Marcial Villalba

     

    Argentina Salta

     

    Dan Northcutt

     

    Arizona Phoenix

     

    Paul Sherman Beck

     

    Arizona Tucson

     

    Wesley Paul Walker

     

    Arkansas Little Rock

     

    Robert Wyman Drewes

     

    Baltic

     

    Douglas Leon Dance

     

    Bolivia Cochabamba

     

    Miguel Angel Tenorio Dominguez

     

    Brazil Brasilia

     

    Gelson Pizzirani

     

    Brazil Florianopolis

     

    Walter Guedes Queiroz Jr.

     

    Brazil Fortaleza

     

    Alan Charles Batt

     

    Brazil Maceio

     

    Gary Ray Beynon

     

    Brazil Manaus

     

    David Woodward Jayme

     

    Brazil Recife

     

    Mario Helio Emerick

     

    Brazil Ribeirao Preto

     

    Ricardo Vieira

     

    Brazil Rio de Janeiro

     

    Antonio Kaulle Machado Bezerra

     

    Brazil Rio de Janeiro North

     

    Scott Warren Pickett

     

    Brazil Salvador

     

    Carlos Roberto Toledo

     

    Brazil Sao Paulo Interlagos

     

    Christopher George Jackson

     

    Brazil Sao Paulo North

     

    Jeffry Lynn Cooley

     

    Brazil Sao Paulo South

     

    Stephen Darrow Richardson

     

    California Anaheim

     

    Steven Bennett Watrous

     

    California Arcadia

     

    Oscar Arthur Pike

     

    California Fresno

     

    John Arthur Gonzalez

     

    California Riverside

     

    Melvyn Kemp Reeves

     

    California Roseville

     

    Mark James Pendelton

     

    California Sacramento

     

    James Stuart Jardine

     

    California San Diego

     

    Lee Leonard Donaldson

     

    California San Jose

     

    Eric Michael Jackson

     

    California Ventura

     

    Wayne Dale Murri

     

    Canada Toronto East

     

    Chris Allan Eyre

     

    Canada Vancouver

     

    Kent Kruger Nelson

     

    Cape Verde Praia

     

    Joselito Medina Costa Neves

     

    Chile Concepcion South

     

    Joe Neil Swenson

     

    Chile Osorno

     

    Kenneth David Lovell

     

    Chile Santiago North

     

    Michael Edward May

     

    Colombia Cali

     

    Edgar Nain Bolivar Forero

     

    Colorado Colorado Springs

     

    Brian Loyal Pfile

     

    Colorado Denver North

     

    Gary Gail Ely

     

    Connecticut Hartford

     

    Hugh Gary Pehrson

     

    Cote d'Ivoire Abidjan

     

    Yapo Ayekoue

     

    Dominican Republic Santo Domingo East

     

    Guillermo Arturo Antivilo Rojas

     

    Dominican Republic Santo Domingo West

     

    Juan Evangelista Almonte

     

    Ecuador Guayaquil North

     

    Jose Wilson Gamboa Galvez

     

    Ecuador Quito

     

    Timothy Quinn Sloan

     

    El Salvador San Salvador East

     

    Alex Moroni Perez Ulin

     

    El Salvador San Salvado West/Belize

     

    Alejandro Lopez Mota

     

    England Manchester

     

    David John Bullock

     

    Fiji Suva

     

    William Orval Ostler

     

    Finland Helsinki

     

    David Blaine Brown

     

    Florida Fort Lauderdale

     

    J. Nathan Hale

     

    France Paris

     

    Don Hansen Staheli

     

    France Toulouse

     

    Michel Joseph Jules Carter

     

    Georgia Atlanta North

     

    Steven Douglas King

     

    Georgia Macon

     

    Mark Oliver Bowman

     

    Germany Frankfurt

     

    Kevin John Ninow

     

    Germany Munich/Austria

     

    Robert Gideon Condie

     

    Ghana Accra

     

    Byron Lindsey Smith

     

    Ghana Cape Coast

     

    Melvin Burns Sabey

     

    Guatemala Guatemala City Central

     

    Richard Allen Baldwin Jr.

     

    Guatemala Guatemala City North

     

    David Jaime Torres Rodriguez

     

    Guatemala Guatemala City South

     

    Herbert Edgardo Alvarado Renderos

     

    Guatemala Quetzaltenango

     

    Ramon Dario Lorenzana Reyes

     

    Honduras Tegucigalpa

     

    Luis Gerardo Chaverri Madrigal

     

    Japan Hiroshima

     

    Yoshiaki Isa

     

    Japan Kobe

     

    William Arthur McIntyre Jr.

     

    Japan Sapporo

     

    Lee Alford Daniels

     

    Japan Sendai

     

    Reid Tateoka

     

    Kentucky Louisville

     

    Steven George Glende

     

    Korea Busan

     

    Kenneth Wayne Jennings Jr.

     

    Louisiana Baton Rouge

     

    William George Woods

     

    Mexico Mexico City North

     

    Daryl Nancollas

     

    Mexico Oaxaca

     

    Leobardo De La Cruz Rosales

     

    Mexico Puebla

     

    Steven Glen Rex

     

    Mexico Tijuana

     

    Robert Hernan Heyn

     

    Mexico Torreon

     

    Bruce Richard Clark

     

    Mexico Tuxtla Gutierrez

     

    Guillermo Velasco Coronado

     

    Mexico Veracruz

     

    Jay Peter Hansen

     

    Michigan Lansing

     

    Marc Ducloux Jones

     

    Minnesota Minneapolis

     

    Mark Douglas Howell

     

    Missouri Independence

     

    George Johan William Van Komen

     

    Nevada Las Vegas

     

    Peter Kevin Christensen

     

    New Jersey Morristown

     

    A. Lee Bahr

     

    New Zealand Auckland

     

    Benson Lee Porter

     

    New Zealand Wellington

     

    Clive Richard Jolliffe

     

    Nigeria Enugu

     

    Jerry Reid Boggess

     

    Nigeria Lagos East

     

    Spencer Bennion Jones

     

    Nigeria Lagos West

     

    Gary Leslie Neuder

     

    Ohio Columbus

     

    Robert Forrest Jensen

     

    Oregon Eugene

     

    Thomas William Macdonald

     

    Oregon Portland

     

    Timothy John Dyches

     

    Pennsylvania Pittsburgh

     

    Lane Alma Summerhays

     

    Peru Lima East

     

    Juan Augusto Leyva Ponce

     

    Philippines Angeles

     

    Rudy Burt Puzey

     

    Philippines Cebu

     

    Darrel Parke Hansen

     

    Philippines Davao

     

    Jairus Cinco Perez

     

    Phillipines Manila

     

    Mark James Howard

     

    Philippines Olongapo

     

    Dave Advincula Aquino

     

    Philippines San Pablo

     

    Richard Edwin Anderson

     

    Philippines Tacloban

     

    Edwin Valencia Malit

     

    Romania Bucharest

     

    James Scott Lundberg

     

    Russia St Petersburg

     

    Gennady Nikolaevich Podvodov

     

    Samoa Apia

     

    Otto Vincent Haleck Jr.

     

    Slovenia/Croatia

     

    David Henry Hill

     

    South Africa Cape Town

     

    Randall K Probst

     

    South Africa Johannesburg

     

    David Edward Poulsen

     

    South Carolina Columbia

     

    Stephen Lowell McConkie

     

    Sweden Stockholm

     

    Larry Ernest Anderson

     

    Tahiti Papeete

     

    Matthew Artell Smith

     

    Tennessee Knoxville

     

    James Ermon Griffin

     

    Tennessee Nashville

     

    Gary Lynn Hutchings

     

    Texas Dallas

     

    Barry Morgan Smith

     

    Texas Houston

     

    Todd Bailey Hansen

     

    Texas Houston East

     

    Dan Edward Moldenhauer

     

    Texas Lubbock

     

    John Lee Robison

     

    Ukraine Donetsk

     

    Timothy Lee Fry

     

    Ukraine Kyiv

     

    Lane Orin Steinagel

     

    Venezuela Caracas

     

    Freddy Valentin Herrera Molina

     

    Washington Tacoma

     

    Harvey Kent Bowen

     

    West Virginia Charleston

     

    Michael William Thornock

     

    Missionaries in 124 missions received new mission presidents.

    Around the Church

    Saints in Spain Celebrate Church History

    "Saints in Spain Celebrate Church History," Ensign, July 2008, 79

    Church members in Spain will hold an extended celebration from October 2008 through May 2009 to commemorate the official recognition of the Church in October 1968 and the dedication of Spain for the preaching of the gospel. Organizers intend to involve the community through open houses and service projects.

    On May 20, 1969, Elder Marion G. Romney dedicated Spain for the preaching of the gospel. A month later, the first missionaries in more than 30 years arrived-missionary attempts in 1932 failed because of restrictive laws. By 1975, 17 branches operated in Spain. The Madrid Spain Stake was formed in 1982, followed by eight additional stakes and the 1999 dedication of the Madrid Spain Temple. More than 41,000 members reside in the country.

    Quebec Saints Celebrate City's Birthday

    "Quebec Saints Celebrate City's Birthday," Ensign, July 2008, 79

    Latter-day Saints in Quebec City, the capital city of Canada's Quebec province, will join in the celebration of the city's 400th birthday in July and plan to welcome visitors to a handful of their own commemorative events, including a performance by a dance company from Brigham Young University-Idaho.

    Established as a fur-trading post in 1608, Quebec City helped produce explorers influential in the exploration of North America, including parts of Utah. The journals and reports of explorers from the St. Lawrence Valley-such as Etienne Provost (1785-1850), namesake of Provo City, and Peter Skene Ogden (1794-1854), namesake of Ogden City-helped prepare the way for the Mormon exodus to the Rocky Mountains.

    The hotel Chateau Frontenac dominates the skyline of 400-year-old Quebec City.

    Osmonds to Be Honored at Pioneer Day Concert

    "Osmonds to Be Honored at Pioneer Day Concert," Ensign, July 2008, 79

    July's Pioneer Day concerts in the Conference Center will feature not only "America's Choir," but also America's favorite family. The Osmond family-including the Osmond Brothers, Donny and Marie, and Jimmy-will perform with the Mormon Tabernacle Choir and Orchestra at Temple Square.

    "The members of this wonderful musical family are true pioneers, not only as Latter-day Saints in the entertainment business, but also as landmark recording and performing artists," said Mack Wilberg, director of the choir.

    The concerts on July 25 and 26, 2008, will pay tribute to the Osmonds' 50-year legacy, which includes 142 albums with more than 100 million copies sold and 51 gold and platinum recordings. The concert will also feature traditional favorites. Go to www.lds.org/events for information.

    Church Responds to Myanmar Disaster

    "Church Responds to Myanmar Disaster," Ensign, July 2008, 79

    With death toll estimates reaching 100,000 in Myanmar's Irrawaddy Delta region, the Church responded quickly to the disaster caused by Cyclone Nargis on May 2 and 3, 2008.

    Partnering with Atlanta-based CARE International, a nongovernmental organization, the Church's initial response included a large donation for purchasing clean drinking water, tarps, blankets, basic food items, and medical equipment. The items were purchased by CARE International in Myanmar or in nearby countries for distribution to victims.

    A week later, the Church sent 142,000 pounds of emergency relief supplies by plane. Some 13,000 first-aid kits, along with hygiene kits, tarps, blankets, food, and medical equipment were sent to Bangkok, Thailand, where CARE made arrangements to deliver the supplies to Myanmar hospitals and clinics.

    LDS Philanthropies will continue to accept donations at www.LDSPhilanthropies.org. Donations not sent to Myanmar will be held for quick distribution in the event of a new catastrophe elsewhere around the world.

    Family History News

    "Family History News," Ensign, July 2008, 80

    Genealogy Guides Aid in Research

    FamilySearch.org has added England and Scotland to its online collection of Finding Records of Your Ancestors genealogy guides. The free, downloadable workbooks explain each step of the research process and include important Web sites, search tips, and information on how to find and use different records.

    The series includes Denmark, Finland, France, Iceland, Italy, Mexico, Norway, and Sweden guides. The guides are currently available in English; the Mexico guide is also available in Spanish. There is also a guide for those searching for African-American ancestors. Access these and other helps at FamilySearch.org. Click the Search tab, then Research Helps.

    FamilySearch Web Site Enhanced by FamilyLink

    A partnership with FamilyLink.com will improve navigation on FamilySearch.org, reduce research time, and allow major search engines to comb the Church's Family History Library Catalog.

    The new Web elements provided by FamilyLink.com will allow users to link directly to other sources, post comments, and make contributions, such as adding missing information to a source. Some of the enhancements will be implemented in 2008.

    British Soldiers, Seamen Records in FamilySearch

    FamilySearch is teaming with a United Kingdom family history Web site to provide online access to records of deceased British soldiers and seamen dating as far back as the eighteenth century.

    Findmypast.com and FamilySearch received licenses to digitize the Chelsea Pensioners retired soldiers' records from 1760 to 1914. Anther project will make available British merchant seamen's records from 1835 to 1941. Many of the twentieth century records will include photographs of sailors and personal details of naval voyages.

    U.S. Civil War Records, 1860 Census Online

    Footnote.com has granted permission for FamilySearch to publish Civil War pension indexes and the 1860 U.S. Census, which includes some slave ownership information. The files usually include a soldier's full name, rank, and company. Though the war ended in 1865, the pension index extends to veterans who served between 1861 and 1917. Users will be able to search segments of the collections as they are uploaded to pilot.familysearch.org/recordssearch.

    Resources for Family History Leaders Available Online

    New training resources for priesthood leaders who oversee temple and family history work are now available on LDS.org.

    These resources include interactive lessons designed to help leaders direct family history efforts. Additionally, the Administrative Guide for Family History, which supplements the Church Handbook of Instructions, is now available in 19 languages.

    These resources can be found at LDS.org by following links from Serving in the Church, to Family History, and then to Priesthood Leadership of Family History.

    Comment

    "Comment," Ensign, July 2008, 80

    Inspiring Prophetic Messages

    I have been traveling for a long time. As a result, many aspects of my life have not been constant. Then I arrived at a friend's home in the United States who is a member of the Church. There was a copy of the Ensign there. I picked it up and read the message from President Thomas S. Monson.

    This message changed my heart. I have shared it with many others, and it has touched their hearts as well. It is light and inspiration to me and for our time.

    Maria Hessenauer, England

    Sacred Words

    I just wanted to thank you for publishing the wonderful story, "Sacred Words," by Edwin Smith in the April 2008 Ensign. I was so touched to read it. I, too, had a micro-preemie, born at the same gestation and close to the same weight as Annie. It has not been an easy road. There are not a lot of these babies who survive, so it was heartwarming. Thank you!

    Kristy Christopherson, California

    First Presidency Cover

    During a home teaching visit last evening we all agreed that the photograph of the First Presidency on the cover of the April 2008 Ensign is a "true keeper." It is, I believe, both refreshing and important to see our leaders in such a natural situation. Thank you so much for all your efforts on behalf of the Church and the work.

    Richard L. Godfrey, Utah

    Journal Keeping

    I enjoyed reading the article in the April 2008 Ensign titled "My Journal, My Testimony," by Salli Hollenzer. I have kept a journal since I turned 12 in 1977. My very first journal was a notebook that I received at a Young Women new beginnings night at church. At first I didn't keep up with my writing-in fact, I misplaced my journal and couldn't find it for three months. But after that I was determined to write in it as often as I could.

    I don't have as many journals as Salli has, but I too have come to value deeply my journals and all that is in them. I can go back to any day of the year and see what I was thinking about and doing and saying, and what other people were doing and saying, and remember some of the important events in my life.

    Thank you very much. Keep up the wonderful stories that you share with us, your readers.

    Genevieve Berthiaume, Oregon

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