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Category: Financial Sector

UPDATE: JP Morgan reveals data breach affected 76 million households and 7 million small businesses

Posted on October 2, 2014 by Dissent

Olivia Levoy of USA Today reports: The cyberattack on JP Morgan Chase & Co. first announced in July comprised information from 76 million households and 7 million small businesses, the company revealed in a filing with the Securities and Exchange Commission Thursday. Contact information, including name, address, phone number and email address, as well as…

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JPMorgan Discovers Further Cyber Security Issues (UPDATED)

Posted on October 2, 2014 by Dissent

UPDATED:  JPMorgan Chase told CNBC it was not aware of a new cyber attack on its computer network, striking down the NY Times article cited below. Original post: Jessica Silver-Greenberg and Matthew Goldstein report: For the second time in roughly three months, JPMorgan Chase is scrambling to contain the fallout from a security breach of its vast computer network,…

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LA: IberiaBank accuses former executives of stealing sensitive data

Posted on September 24, 2014 by Dissent

Billy Gunn reports: IberiaBank Corp. is accusing two former executives of a bank it purchased this year of stealing customer and business information and giving the sensitive data to JD Bank, a Jennings-based business rival formerly known as Jeff Davis Bank & Trust. In a lawsuit filed in U.S. District Court in Lafayette, IberiaBank claims…

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Ca: Employer liability for privacy breaches by employees

Posted on September 23, 2014 by Dissent

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…

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CFPB Must Improve Financial Data Security: GAO

Posted on September 22, 2014 by Dissent

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…

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KR: Regulator to further penalize Kookmin, CitiBank

Posted on September 21, 2014 by Dissent

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…

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