Paul Smith reports: The Australian Bankers Association has defended the strength of IT security processes in place across Australia’s banking system following the revelation that Reserve Bank of Australia systems had been compromised by China-based hackers. However, security experts said the incident highlighted the need for Australian data breach notification laws to be tightened to force…
Category: Financial Sector
Caribbean banks issue credit card alert (update 2)
I’ve continued to look for updates to recent reports of a breach affecting banks in the Bahamas. Is this related, I wonder: Banks and other financial institutions across the Caribbean have been impacted by a security breach at a financial institution in the region. This potential security breach can result in the compromise of a…
Interesting Bank of America data leak (updated)
Michael Kelley and Geoffrey Ingersoll report: Anonymous hackers have released 14 gigabytes of information allegedly related to Bank of America and a web intelligence firm it hired to spy on hackers and social activists last year. Emails detail how employees of TEKSystems actively watched hacker forums and social media sites for anyremotely relevant pieces of “intelligence.” Read more on Business Insider. Cyber War…
Magistrate Recommends Dismissal with Prejudice of Claims Against Global Payments
Craig Hoffman writes: Global Payments, which processes credit card transactions, announced on March 30, 2012 that an unauthorized person gained access to a portion of its processing system. Global Payments later disclosed that Track 2 data (card number, expiration date, verification code but not cardholder name or address) of 1.5 million cardholders were taken. Three…
This could be big…
Developing…. It seems that every bank in the Bahamas has been notified of a breach at a foreign processor or acquiring bank. Most of the banks do not yet know how many of their customers’ card numbers are compromised, and while some banks have already started re-issuing cards, others are taking a wait-and-see approach. The…
UK: Bank employee fined for snooping in partner’s ex-wife’s banks statements
A Barclays employee who snooped in her partner’s ex-wife’s bank statements pleaded guilty in court to 11 offenses under section 55 of the Data Protection Act. The Information Commissioner’s Office reports she was fined £500 by Derby Crown Court and ordered to pay a £15 victim surcharge and £1,410.80 prosecution costs.