Neil MacLucas of Dow Jones Newswires reports: Switzerland has confirmed the arrest in Spain of Herve Falciani and are now seeking extradition of the Italian-French citizen being sought by police in connection with the theft of customer data from the Geneva branch of HSBC Private Bank. […] Copies of the HSBC data, which lists the…
Category: Financial Sector
MN: Bankers’ breaches to help ID theft ring lead to prison
Dan Browning reports: Two former bankers convicted of aggravated identity theft and helping an international crime organization based in the Twin Cities to bilk more than $50 million from U.S. banks apologized for their crimes Wednesday and pleaded with a judge to go easy on them. But Chief U.S. District Judge Michael Davis flatly rejected…
Missouri Bank Sues Ex-Workers on Data Theft Claim
Robert Barba reports: Pulaski Bank has filed a lawsuit against three former employees over mortgage data that the Creve Couer, Mo., bank claims the employees took and are using to give their new employer a leg up. The $1.3 billion-asset bank unit of Pulaski Financial filed its lawsuit Tuesday against Rita Rieke, Linda Stewart and…
Court Dismisses Data Breach Claims Against Countrywide – Holmes v. Countrywide
Venkat Balasubramani discusses the decision in Holmes v. Countrywide Financial Corp., et al.: In August 2008, a Countrywide employee engaged in a scheme to steal confidential customer information from Countrywide. An investigation found that the employee gained access to data from 2.4 million loan customers, and sold this information to unknown third parties for the…
UK: Welcome Financial Services Limited Fined £150,000 After Backup Tapes With Customer Contact Info Lost
From the Information Commissioner’s Office: Organisations are learning the hard way of the consequences of mishandling people’s information – and others need to heed the lessons the Information Commissioner, Christopher Graham, warned today at the launch of the ICO’s 2011/12 annual report. The Commissioner’s comments came as the ICO imposed a civil monetary penalty (CMP) of…
Update: Federal appeals court raps U.S. bank over shoddy online security
Jeremy Kirk reports the latest twist in a long-running lawsuit by a construction firm against its bank over fraudulent wire transfers: A U.S. construction company may stand a greater chance of recovering some of the $345,000 it lost in fraudulent wire transfers that it blames on poor online banking practices of its bank. Patco…