Chris Dolmetsch and Tiffany Kary report: An employee of Two Sigma Investments LLC, an $18 billion quantitative hedge fund, was charged by New York prosecutors with stealing computer data from the company, the latest in a growing number of proprietary financial firm theft cases brought by the Manhattan district attorney. Two Sigma sued Kang Gao,…
Category: Financial Sector
UK: Barclays cybertheft involved cooperation of employee
Steve Gold has an update to a breach noted previously on this blog involving a gang that transferred funds from some Barclays customers’ accounts. At the time, it was suspected that one of the gang members had posed as an engineer to install a KVM device that enabled them to access the bank’s computer and…
KR: Data-leaked card firms may suffer some 100 bln won revenue loss on biz suspension
Yonhap News reports that penalties imposed by financial regulators following data leaks may really hurt card issuers’ bottom lines this year: The three credit card firms hit by recent massive data leaks may lose some 100 billion won (US$93.6 million) in revenues due to a three-month business suspension ordered by the country’s financial regulator, data…
Zevin Asset Management notifies clients after employee who violated company policy inadvertently exposed personal and financial information
Boston-based Zevin Asset Management recently notified some clients of a breach that began in mid-September 2013. According to a letter dated February 13 signed by their President, Benjamin Lovell: In mid-September 2013, contrary to Zevin policies, a Zevin employee used an online services provider to host a document listing Zevin’s usernames and passwords for certain…
KR: Shinhan Bank allegedly snooped into accounts of politicians
Na Jeong-ju reports: Shinhan Bank may face punishment by regulators for allegedly illegally accessing hundreds of bank accounts held by its customers, including politicians, sources said Monday. The Financial Supervisory Service (FSS) is currently looking into claims by an opposition lawmaker last year that the bank accessed bank accounts held by 22 people, including 16…
Wachovia customer sues bank for failing to protect his account and then falsely fingering him to the feds
Jay Weaver of the Miami Herald has a must-read piece about what Carlos Gomez, a Wachovia Bank customer, went through after becoming a victim of ID theft by a bank employee, and how he’s suing Wachovia, which has since been taken over by Wells Fargo: Just before dawn, insistent pounding on the front door jolted…