Dan Browning reports: Burnsville resident Mike Calcutt says he was stunned last March when he learned that someone had run up nearly $90,000 in unauthorized charges on his home equity line of credit account at Affinity Plus Federal Credit Union. His shock turned to anger when the credit union informed him that he’d have to…
Category: Financial Sector
Westpac worker ‘aided $1.1m fraud’
Margaret Scheikowski reports: A Westpac employee was probably an accomplice of a Sydney man who defrauded the bank of more than $1.1 million through “identity theft”, a judge has found. Westpac Banking Corporation took civil action in the NSW Supreme Court, claiming that Ersever Toksoz, also known as Gino Versace, was the chief architect of…
(follow-up) Compensation confusion over Santander’s statement fiasco
Victoria Bischoff reports: Santander yesterday admitted sending the wrong bank statements containing other people’s personal details to thousands and thousands of customers. We explain if these customers will be entitled to compensation and if they are now at more risk of fraud? Will I get compensation from Santander? Early misleading reports indicate that tens of…
Santander sends up to 35,000 statements to wrong addresses (updated)
Guy Anker reports: Santander has admitted sending up to 35,000 bank statements to the wrong addresses, MoneySavingExpert.com can reveal. […] One MoneySaver from Stockport, who wishes to remain anonymous, has reported receiving somebody else’s statement today on the back of his. He says he could see the person’s name, address, bank details and recent transactions…
(follow-up) Fired Fannie Mae contractor sentenced to 41 mos. for attempting to destroy all data on servers
U.S. District Judge J. Frederick Motz sentenced computer programmer Rajendrasinh Babubhai Makwana, age 36, of Montgomery County, Maryland, today to 41 months in prison, followed by three years of supervised release, for computer intrusion arising from the transmission of malicious script to Fannie Mae’s computer servers. A federal jury convicted Makwana on October 4, 2010….
U.S. Bank Hit with Class Action Suit Alleging Data Breach Cover-Up
Jason C. Gavejian writes: Paintball Punks filed a class action suit against U.S. Bank in Hennepin County, Minnesota. The case was subsequently removed on December 6, 2010, to the Minneapolis District Court. In the complaint, Paintball Punks alleges that between August and December 2009 it received 9 orders totaling approximately $11,000, which were fraudulently billed…