Law360 reports: Travelers Casualty and Surety Co. of America on Wednesday sued an Illinois-based Web design company, saying the company’s negligence in designing and maintaining a community bank’s website contributed to a data breach for which the insurer was left on the hook. Travelers accuses Ignition Studio Inc. of allowing hackers to access Alpine Bank‘s…
Category: Financial Sector
Two Plead Guilty in New York Identity Theft Case
Colin Wilhelm reports: Two defendants in an alleged identity theft ring that targeted banks in New York City and Westchester County have pleaded guilty. Tyrone Lee and Anthony Davis admitted on Tuesday to orchestrating thefts of customer information using bank tellers at branches. Using data gained from tellers who cooperated in the ring, Lee stole…
Ex-Citadel employee sentenced to three years for data theft
Bloomberg reports: A former Citadel LLC employee who admitted stealing data from the Chicago-based investment firm as well as high-frequency trading computer code from a New Jersey company was sentenced to three years in prison. Yihao “Ben” Pu, who was charged in 2011, pleaded guilty in August to stealing proprietary information from Citadel in 2011 and to…
JPMorgan Asked by States for More Detail on 2014 Data Breach
Chris Dolmetsch reports: A group of U.S. attorneys general want more information from JPMorgan Chase & Co. (JPM)about the extent of a data breach that jeopardized millions of customer accounts amid a national focus on consumer cybersecurity. The request comes as President Barack Obama on Jan. 13 called for new laws requiring companies to disclose instances when they’ve been hacked…
PA: Two cleaning women charged with stealing personal info from police credit union
Margaret Harding reports: Two cleaning women from Stowe did little cleaning at the Greater Pittsburgh Police Federal Credit Union, describing their time instead as “girl time” to tell stories, drink beverages and scout through stuff — including members’ personal information that they stole, police said. Bonnie Hendzel, 50, and Mary Tumminello, 27, were charged with stealing…
Personal banking info sold to highest bidder in China
From the that’s-not-good dept.: Leaks of personal credit card information have become increasingly serious in China, reports the Beijing Times. The stolen information is sold online and priced differently according to its “quality.” Secondhand information that has previously been sold is priced at 0.35 yuan (US$0.06) per item whereas info on platinum card users can…