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: Theft
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,…
John Muir Health to notify 5,450 patients of data breach
John Muir Health, the Walnut Creek-based hospital system, said Monday it has begun notifying 5,450 patients by mail of a “potential breach of their personal and health information.” The move came after the theft two months ago of two laptop computers at the John Muir Physician Network Perinatal office in Walnut Creek, officials said April…
Stockton man sentenced for bank fraud, aggravated ID theft, stealing mail
Sai Samone Soulyalangsy, 26, of San Joaquin County, was sentenced in federal court this week to 39 months in prison, to be followed by five years of supervised release, and restitution of $39,471.03 for multiple felony bank fraud and identity theft charges. This case was the product of an investigation by the U.S. Postal Inspection…
Unencrypted personal info of LPL Financial clients on stolen device
As I’ve noted in the past, LPL Financial has reported a number of breaches in the past few years, none of which seem to have been reported in the mainstream media. On March 9, the firm reported yet another breach. According to a letter sent by Marc Loewenthal, Senior Vice President and Chief Security/Privacy Officer…