August 8 – U.S. District Judge Paul Maloney today sentenced Cedric Smith to a prison term of 70 months. His sentence is the last handed down in a West Michigan federal case charging three Miami, Florida residents with bank fraud and aggravated identity theft. In February 2021, a grand jury charged Cedric Smith, Daja Smith…
Category: Financial Sector
No Injury = No Article III Standing in Data Breach Class Action
Amy Brown Doolittle of Squire Patton Boggs writes: As we have discussed here at CPW, one of the biggest challenges facing a plaintiff in a data breach class action is to establish an injury from the alleged data breach. Earlier this week, in David De Midicis v. Ally Bank & Ally Fin., Inc., 2022 U.S. Dist. LEXIS…
DeBridge Team Foils Possible Lazarus Group Cyberattack
Tom Carreras reports: North Korean hacking syndicate Lazarus Group is thought to be behind a failed cyberattack on deBridge Finance yesterday. […] According to Smirnov, several members of the deBridge team received emails yesterday with PDFs attached to them entitled “New Salary Adjustments.” Downloading the file and submitting password information would have unleashed a data-collecting…
Hackers Posing as Merkel Target ECB’s Lagarde – German Source
Francesco Canepa and Andreas Rinke of Reuters report: Unidentified hackers attempted to trick European Central Bank President Christine Lagarde into letting them open a messaging app account in her name by posing as former German chancellor Angela Merkel, a German source said on Tuesday. The plot was quickly foiled without any information being compromised, an…
Expensive week for Carnival Corp: a $1.25 million settlement with states over one breach, then a $5 million settlement with New York for violating state cybersecurity regulation
It seems this was the week for following up on Carnival Corporation breaches. Earlier this week, state attorneys general announced a $1.25 million multistate settlement with the cruise line over a 2019 data breach first disclosed in 2020. But there was other news concerning the cruise line this week, too. On Friday, the New York…
FBI investigating $100 million theft from blockchain company Harmony
Jonathan Greig reports: Blockchain company Harmony said $100 million in cryptocurrency was stolen from the platform on Thursday evening. The company said the FBI is now investigating the theft alongside several cybersecurity firms. A cross-chain bridge – also known as a blockchain bridge – allows people to transfer tokens, assets, smart contract instructions and data…