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…
Category: Financial Sector
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…
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…