OneWest Bank has been notifying customers of a breach that occurred back in 2011. According to their letter, a copy of which they submitted to California under the state’s breach reporting requirements, the bank recently learned that one of our service providers, was the victim of an illegal and unauthorized intrusion into its network (“Network…
Category: Financial Sector
Bank Sues Cyberheist Victim to Recover Funds
Brian Krebs reports on a lawsuit where Park Sterling Bank (PSB) in Charlotte, North Carolina is suing a former client, Wallace & Pittman PLLC , after the latter was the victim of a fraudulent wire transfer. The breach occurred after a key logger was installed on its system via a phishing attempt and criminals obtained…
State National Insurance claims no responsibility to pay for Global Payments’ breach costs
Global Payments may have gotten some welcome news when a class action lawsuit against was dismissed last month (Willingham v. Global Payments), and they may have concluded its investigation of the breach they disclosed in March 2012, but they’re not done with problems from the breach, it seems. Law360 reports: Global Payments Inc.’s excess insurer State…
Westpac tight-lipped over privacy breach
Jimmy Ellingham reports: Westpac is refusing to say if it has told customers affected by a privacy breach that details of their term deposits have been either handed over or taken from one of its Palmerston North branches. Regardless of how the breach happened, the Office of the Privacy Commissioner says it is often a…
Court Favors Bank in Fraud Dispute; Customer Had Declined Dual Authentication
More on the lawsuit and countersuit between Choice Escrow and Land Title and BancorpSouth, mentioned previously on this blog. Tracy Kitten reports: A federal court has sided with a Mississippi bank in a lingering dispute with a customer over financial losses linked to an account takeover incident dating back to March 2010. That means the bank will…
UK: Payday loans firm loses licence over identity theft loans
We don’t see this too often, but lack of adequate security costs this business its business, and the consequences were imposed by a regulator. Out-Law.com reports: MCO Capital Limited made loans in the name of 7,000 people whose identity was used by fraudsters without their permission or knowledge. The loans totalled millions of pounds and…