Daniel Mayer writes: A class action was recently allowed to proceed in Ontario against a major bank after one of its employees admitted to accessing and disclosing to third parties confidential information of the bank’s customers. While this case is not a final decision as to whether the bank was actually liable for its employee’s…
Category: Financial Sector
CFPB Must Improve Financial Data Security: GAO
Mike Muckian reports: If you’re one of the 25 million to 75 million U.S. credit cardholders whose account information has been gathered by the CFPB, your financial data may not be as safe as it should be. The U.S. Governmental Accountability Office recently analyzed the bureau’s data security practices and was not pleased with the…
KR: Regulator to further penalize Kookmin, CitiBank
Chung Ah-young reports: The financial regulator said Sunday that it may impose additional penalties on officials responsible for large-scale data thefts that occurred earlier this year. The Financial Supervisory Service (FSS) said that it will hold a disciplinary review committee meeting on Oct. 2 to discuss the severity of sanctions towards executives and employees of…
CO: Sensitive mortgage documents found dumped behind Centennial office building
Jaclyn Allen reports that a passerby discovered boxes of folders with what appeared to be mortgage information files: The folders have one company in common, Colorado First Commercial Mortgage, which has been out of business in Colorado for more than a decade. But wait, there’s more, it seems. When the Sheriff’s office went to investigate,…
NY A.G. Schneiderman Announces Takedown Of Identity-Theft Ring Targeting Bank Customers Across NYC And Surrounding Counties
Attorney General Eric T. Schneiderman today announced the arrest and indictment of five individuals for running an alleged identity-theft ring targeting customers of local banks. The defendants stole over $850,000 by having bank tellers access and steal personal information of hundreds of unsuspecting customers – account numbers and Social Security numbers, for example – and…
Hackers-for-hire raided 300 banks, corporates for TWELVE YEARS
Darren Pauli reports: A band of hackers for hire have raided some 300 banks, corporations and governments undetected for 12 years, possibly the longest campaign of its kind. The German hackers registered 800 front businesses in the UK to target and fully compromise organisations in Germany, Switzerland, and Austria at the request of customers. Elite…