When John Gordon Baden was arrested in Mexico in November 2014, the FBI issued a press release that provided background on the case. The allegations reproduced below are only for historical purposes: John Gordon Baden along with his co-conspirators were allegedly responsible for stealing the identities of 40,000 people and then using the stolen information to…
Category: Financial Sector
U.S. SEC fines advisory firm for shoddy controls following cyber attack traced to China
Sarah N. Lynch reports: A St. Louis-based investment advisory firm will pay $75,000 to settle civil charges alleging it failed “entirely” to protect its clients from a July 2013 cyber attack that was later traced to China, U.S. regulators said on Tuesday. The Securities and Exchange Commission said R.T. Jones Capital Equities Management did not…
Former Morgan Stanley adviser pleads guilty to stealing clients’ information
There’s an update in the case of fired Morgan Stanley wealth management adviser Galen Marsh, who had been accused of stealing account data on about 350,000 clients and posting some of that information for sale online. Nate Raymond and Joseph Ax of Reuters report that Marsh pleaded guilty today to swiping more than double the amount of data Morgan…
Algerian hacker: Hero or hoodlum?
Dalia Hatuqa reports: Depending on who you ask, Hamza Bendelladj is either a Robin Hood-esque hero or a cyber-age hoodlum. The 27-year-old Algerian computer science graduate will be sentenced on Tuesday in a US court for using a computer virus to steal money from more than 200 American banks and financial institutions. He then reportedly gave millions…
‘Hack for Trump’ group demands $30k from Bahamian Bank
Neil Hartnell reports: Hackers are trying to extort $30,000 from the Bahamas-based Fidelity Group of Companies, which yesterday moved to reassure clients there had been no widespread leak of personal financial data. Anwer Sunderji, Fidelity’s chairman, confirmed to Tribune Business that a group called ‘Hack for Trump’ had contacted it and demanded a ransom payment…
Wyndham Case May Mean Uncertainty for New Payment Providers
Kery Murakami reports: Wyndham Hotels & Resorts LLC’s appeal of a Federal Trade Commission (FTC) complaint against the hotel chain for alleged lax data protection practices is being watched closely by banking officials who say it could lead to uncertainty over cybersecurity regulations for emerging technologies such as mobile wallets and digital payments. The case…