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…
Category: Financial Sector
EFCC Arraigns Hacker For N68bn Theft
From a statement by the Economic and Financial Crimes Commission (EFCC): The Economic and Financial Crimes Commission, EFCC, on Monday, April 20, 2015 arraigned one Stephen Omaidu before Justice M. A Nasir of Federal Capital Territory High Court sitting in Jabi, Abuja on a two count charge bordering on theft to the tune of N68,028,000,000.00 (sixty…
The nearly mythical mobile data breach
Mike Cetera writes: Data breaches are a huge and growing problem, but the odds that a cybercriminal will steal your bank or contact information from your smartphone are incredibly small, a new study has found. The biggest security issue facing mobile users is malware — malicious code sometimes hidden in apps — and even that…
Travelers, Ignition Studio agree to dismiss lawsuit over Alpine Bank data breach
Law360 reports that Travelers Casualty and Surety Co. has settled its lawsuit against Ignition Studio Inc. The suit had alleged that Ignition Studio had not adequately secured Alpine Bank’s web site, resulting in a hack in 2012. Yesterday, both parties stipulated to the “dismissal of this action in its entirety with prejudice, each party to bear its…
HSBC Financial Corp. notifies mortgage customers of online breach
HSBC Finance Corporation has begun notifying an undisclosed number of consumers whose mortgage account information was inadvertently exposed on the Internet. The firm believes the exposure began sometime towards the end of 2014 and continued until March 27, 2015, when they learned of the breach. The breach affected customers of the firm’s subsidiaries, including Beneficial Financial I, Inc.,…
WI: Fraudulent Green Dot accounts set up using stolen identities
Katrina Cravy and Leeann Watson report that fraudsters are opening Green Dot accounts using stolen identity information. Green Dot offers prepaid Visa or MasterCard debit cards. Police departments nationwide have crime alerts on this scam including Oak Creek. “I have probably over 100 since February and I know other jurisdictions all around us are just getting inundated…