Bruce Kelly of Investment News has more on the recent LPL Financial breach reported previously here. Kelly reports that LPL’s chief risk officer, John McDermott, says that LPL advisers guilty of mishandling or losing client data face an escalating series of punitive measures — “starting with a formal reprimand, then fines and ultimately termination.” McDermott…
Category: Financial Sector
BofA insider to plead guilty to hacking ATMs
Robert McMillan reports: A Bank of America computer specialist is set to plead guilty to charges that he hacked the bank’s automated tellers to dispense cash without recording the activity. Rodney Reed Caverly, of Charlotte, North Carolina, is scheduled to plead guilty to a computer fraud charge next Tuesday in federal court in Charlotte, according…
Taxman rakes in hundreds of millions thanks to stolen bank data
Germany is still raking in hundreds of millions of euros from tax dodgers thanks to stolen Liechtenstein bank information purchased in 2008, just as new Swiss data is scaring droves of offenders to turn themselves in. According to daily Süddeutsche Zeitung, some €626 million in back taxes have flowed into government coffers due to voluntary…
Missing investment firm backup tapes contained account info
By letter to the New Hampshire Attorney General’s Office dated March 29, Proxima Alfa Investments’ attorney-in-fact Publio Vallejo reported that backup tapes containing account information had been stolen more than six months ago. A letter dated March 30 to the affected individual(s), states that the firm, which is in liquidation and had ceased operations mid-2009,…
Countrywide Sold Private Info, Class Claims
Tim Hull reports: Countrywide Financial employees stole and sold “tens of thousands, or millions” of customers’ personal financial information, invading their privacy and exposing them to identity theft, a class action claims in Ventura County Court, Calif. The class seeks to know, among other things, whether Countryside merely aided and abetted the theft and illegal…
Former FDIC Employee Admits Leaking Financial Data
Merikay Wootton, 63, Lenexa, Kansas, has pleaded guilty to disclosing confidential information while she was an employee of the Federal Deposit Insurance Corporation, U.S. Attorney Lanny Welch said today. Wootton pleaded guilty to unlawfully disclosing confidential information from a government agency. In her plea, she admitted she was working as a loan officer for Columbian…