Jeannie O’Sullivan reports: A federal grand jury has indicted a former TD Bank employee for her alleged role in a scheme involving fraudulent withdrawals totaling nearly $70,000 from branches in Burlington and Camden counties between October and February. Jennell Digby, 27, of Philadelphia, was charged with conspiracy, bank fraud and aggravated identity theft, according to…
Category: Financial Sector
Widespread malware attack affects some Ascensus clients
Ascensus Inc. notified the New Hampshire Attorney General’s Office this week that on April 15, they were notified by federal investigators that computers on their network had been infected by a “new malware virus” that had infected a lot of companies’ computers. A forensic examination revealed that the malware had created files containing some individuals’…
Commentary: Belmont bank must pay fine for data breach, but was a fine too harsh?
Greg Turner reports: Belmont Savings Bank agreed to pay $7,500 in a settlement of a consumer data breach case with the state attorney general’s office. In May, the bank lost an unencrypted computer tape containing the personal information of more than 13,000 customers. A bank employee left the backup tape on a desk instead of…
Former JPMorgan Chase Banker Pleads Guilty to ID Theft
The press release from Manhattan District Attorney Vance: Manhattan District Attorney Cyrus R. Vance, Jr., today announced the guilty plea of HAO “HOWIE” WANG, 28, for stealing more than $1.1 million from JPMorgan Chase & Co. (“JPMC”) and stealing the identities of four victims. WANG pled guilty to Grand Larceny in the First Degree, Identity…
Yet Another Bank Sued By A Small Business For Fraudulent Hacker Transfers
Ericka Chickowski reports: A new court case brought to bear against Professional Business Bank by Village View Escrow Inc. continued the battle waged over who’s to blame for hacking attacks that leave small business accounts drained following online password theft. Filed in late June in the California Superior Court in Los Angeles, the case is…
New ACH Fraud Suit Filed
Tracey Kitten reports: A March 2010 incident of corporate account takeover has led to yet another legal dispute between a commercial customer and its former bank. [See the complaint.] California-based Village View Escrow Inc. on June 27 filed a complaint with the California Superior Court, Los Angeles, against Professional Business Bank, claiming the bank is liable for the $465,000 financial…