Kaja Whitehouse reports: The government is working with “several” hedge funds that have been victims of cyber extortionists, said John Carlin, head of the Justice Department’s National Security Division. Carlin made the comments Friday at the SALT hedge fund conference in Las Vegas, where he came to warn the crowd, made up of hedge fund…
Category: Financial Sector
Tampa Man Sentenced To Seven Years For Credit Card Fraud And Identity Theft
Ricardo Romero-Mesa (44, Tampa) was sentenced on Friday to seven years in federal prison for conspiracy to commit credit card fraud and aggravated identity theft. The Court also ordered him to forfeit $13,423.79, which are the proceeds traceable to his criminal conduct. He pleaded guilty on January 15, 2015. According to court documents, in early…
JP Morgan bank bod accused of flogging customer account info
Iain Thomson reports: The FBI has charged a former JP Morgan employee with selling customer information to thieves who wanted to empty accounts without triggering any alarms. Unsealed court records [PDF] recount that Peter Persaud, who worked at JP Morgan’s Brooklyn branch, contacted an undercover FBI informant, and allegedly offered to sell him the account details of…
Finra CARDS data breach risk is real
Alessandra Malito reports: Potential security risk concerns over Finra’s highly-debated Comprehensive Automated Risk Data System proposal, or CARDS, are not simply hot air, cybersecurity and big data experts say. The initiative by the Financial Industry Regulatory Authority Inc., which was recently put on hold for further evaluation amid negative feedback, was proposed as a means of…
Programmer Convicted in Bizarre Goldman Sachs Case—Again
Kim Zetter reports: A former Goldman Sachs programmer has been convicted for the second time in four years on charges that he misused his former employer’s code, adding a new chapter to an already bizarre and controversial case that has drawn much unwanted attention to the world of high-speed trading and elicited criticism of prosecutorial overzealousness….
Congress to banks: Admit you’ve been hacked!
Jose Pagliery reports: Banks have lost so much consumer information to hackers this year that two members of Congress are asking them to come clean with the extent of the damage. Tuesday morning, 16 financial institutions will receive letters from Sen. Elizabeth Warren and Rep. Elijah E. Cummings asking them to admit that they have…