Robert McGarvey reports that a credit union’s lawsuit against Fiserv has been resurrected by a Tennessee court: The Court of Appeals in Tennessee, in a ruling filed July 3, ruled that a lower court erred when it dismissed a suit filed by Copper Basin Federal Credit Union and CUMIS against Fiserv Inc., wherein the plaintiffs…
Category: Financial Sector
1-800-Data Breach
Raj J. Patel reports: Despite the increase in cyberattacks, the Securities and Exchange Commission (SEC) has yet to publish guidelines as to when a corporation should publicly disclose the data loss, system disruption, or other damages caused by a cyber incident — even where the incident caused financial losses. Some companies have included standard warnings…
FDIC: 2011 FIS Breach Worse Than Reported
More fascinating reporting by Brian Krebs: A 2011 hacker break-in at banking industry behemoth Fidelity National Information Services (FIS) was far more extensive and serious than the company disclosed in public reports, banking regulators warned FIS customers last month. The disclosure highlights a shocking lack of basic security protections throughout one of the nation’s largest…
CERT probing security breach at IT firms
ElectraCard Services was one of two payment processors in India named in conjunction with that massive $45M cyberheist. The other one is reportedly EnStage, Inc. Read more on ManoramaOnline.com.
Indian card processor in $45 million heist is ElectraCard Services – Reuter sources
Dinesh Nair and Jessica Dye of Reuters report that one of the card processors whose security was breached in a $45 million global cyber heist was India’s ElectraCard Services. No one has confirmed that officially, however, as the sources spoke on condition of anonymity. You can read the Reuter’s exclusive coverage here.
Privacy Breach on Bloomberg’s Data Terminals
Amy Chozik and Ben Protess report on what the NYT calls a privacy breach, but is also a security breach, in my opinion: A shudder went through Wall Street on Friday after the revelation that Bloomberg News reporters had extracted subscribers’ private information through the company’s ubiquitous data terminals to break news. The company confirmed…