Kim Phan of Ballard Spahr writes: On March 3rd, the New York Department of Financial Services (“NYDFS”) announced a settlement with Residential Mortgage Services, Inc. (“RMS”) to resolve allegations that RMS violated the NYDFS Cybersecurity Regulation relating to a 2019 cyber breach. In July 2020, NYDFS conducted an examination of RMS as a licensed mortgage…
Category: Financial Sector
AR: Two men, including ex-employee of Magnolia bank, get federal sentences for stealing account info of 100 people, committing mail fraud
The Magnolia Reporter reports: Two men, including a former employee of a Magnolia bank, have been sentenced for stealing financial information and making more than $42,000 in fraudulent online purchases. Patrick Wayne Watson, 24, now of Conway, and Kennan Dane O’Bier, 24, now of Nash, TX, were sentenced Tuesday in United States Federal Court at…
Fears grow data hacked from Reserve Bank may be leaked by CLOP ransomware group
Tom Pullar-Strecker reports: A ransomware gang appears to be releasing confidential data obtained from the hack of customers of US software company Accellion, raising fears that New Zealand banks may be next to have data exposed. The Reserve Bank admitted it had been subject to a serious data breach in January, which occurred when a…
Hackers have eye on 6 Bangladeshi organisations
Mehedi Hasan reports: Kasablanca, a hacker group, has targeted cyberattacks on at least six well-known Bangladeshi financial and government organisations, says the e-Government Computer Incident Response Team (e-Gov CIRT), the state organisation responsible for securing the country’s cyberspace. The organisations are Bangladesh Bank, Bangladesh Police, bKash, BRAC Bank, Islami Bank Bangladesh and Corona.gov.bd. The reason…
NY Department of Financial Services Issues Cyber Fraud Alert to Regulated Entities Using Instant Quote Websites
Hunton Andrews Kurth writes: On February 16, 2021, the New York Department of Financial Services (“NYDFS”) issued a Cyber Fraud Alert (the “Alert”) to regulated entities in light of a growing campaign to steal Nonpublic Information (“NPI”), as defined under New York law, from public-facing websites that provide instant quotes for products like auto insurance (“Instant Quote…
Sequoia Capital Suffers Data Breach
Dark Reading reports: Sequoia Capital last week warned investors that some of their personal and sensitive information may have been exposed in a recent data breach of the firm. According to reports, Sequoia said the data may have been accessed by a third party in the breach, which occurred as a result of a successful phishing attack on an employee via email….