Christopher Maag reports: Personal information belonging to 34,000 investment clients of Morgan Stanley Smith Barney has been lost, and possibly stolen, in a data breach. According to two letters sent to clients, and obtained by Credit.com, the information includes clients’ names, addresses, account and tax identification numbers, the income earned on the investments in 2010,…
Category: Financial Sector
Citigroup Cites $2.7 Million in Customer Losses From Hack
Randall Smith reports: Citigroup Inc. has told government officials that about 3,400 of the customers whose credit-card information was hacked have suffered about $2.7 million in losses, according to people familiar with the matter. The disclosure is the first acknowledgment by the New York company that the May security breach resulted in any losses. Citigroup…
Citi skimps on “standard” customer monitoring after security breach
Reuters reports: After a massive data breach last month, Citigroup did not offer its hacked clients the same degree of identity-theft protection that many other companies provide, drawing criticism from privacy advocates. Citigroup, which had over 360,000 credit card accounts exposed last month, sent letters to affected customers this month with advice on protecting themselves…
Postal Inspectors Probe Gold Coin Purchases Made With Stolen American Express Cards
A reader sent along this item from CoinWeek, noting the interesting references to tampering with AmEx security: U.S. Postal Service inspectors are investigating the fraudulent use of stolen American Express credit cards to purchase apparently tens of thousands of dollars of gold coins. “The orders are placed by phone, often for $10,000 to $20,000 worth…
Ukraine says breaks up global hacker ring, banks targeted
Olzhas Auyezov reports: Ukraine’s state security service on Thursday said it had broken up an international hacking ring that infiltrated foreign banks’ computer networks and stole $72 million. The hacker group, organised and led by Ukrainians, used a computer virus to access bank accounts abroad, the SBU security agency said. Read more from Reuters Canada.
UK banks unaffected by European data breach crackdown
Karl Finders reports: A crackdown on businesses which will make it mandatory to report security breaches will have little impact on UK banks, according to the British Bankers Association (BBA). Speaking at the BBA’s Data Protection and Privacy Conference, Viviane Reding, vice-president of the European Commission, said new rules will be implemented in Europe forcing businesses to…