Linda McGlasson reports: A proposed settlement of the consumer class action suit brought against payments processor Heartland Payments System got preliminary approval from a U.S. District Court judge in late April. The proposed settlement would create a $4 million pool to pay consumers and settle the case. […] In a “fairness hearing” on April 27,…
Category: Financial Sector
(RBS follow-up) Ex-cop admits role in $4.2m ATM heist
Patsy Moy reports: Two Hong Kong men using fake bank cards produced by US-based hackers withdrew HK$4.2 million [USD $541,024.47 — Dissent] from various ATM machines in less than eight hours, the District Court heard yesterday. Cheung Hoi-wing, 40, a transport worker and former police officer, pleaded guilty to one count of conspiracy after admitting…
Scottrade sues hacker
Barbara Leonard reports: A Russian hacker broke into online brokerage accounts and stole hundreds of thousands of dollars from its customers in a “hack, pump and dump” scheme, Scottrade claims in Federal Court. Defendant Valery Maltsev responded in a statement that said, in part: “Scottrade investors didn’t even see that money were going away from…
Ca: ‘I have her stuff. Who has mine?’
Candice Mac Lean reports: When Vicki Hill opened a large, brown envelope stuffed with financial documents last week, she expected it was the student loan information she requested from CIBC weeks earlier. Vicki Hill ended up getting someone else’s documents containing personal financial information, but some of her documents she requested weren’t delivered. Instead, among…
Former bank employee indicted on identity theft charges
A federal grand jury today indicted a former Regions Bank employee on fraud and identity theft charges, U.S. Attorney Joyce White Vance, Postal Inspector Frank Dyer and Secret Service Special Agent in Charge Roy Sexton announced. An 11-count indictment filed in U.S. District Court charges WASH TAYLOR COLEMAN JR., 33, of Birmingham, with mail fraud,…
Swiss mull lawsuit against Germany over bank data
Switzerland is still considering whether to take Germany to court over the purchase of stolen bank data the country is using to root out tax dodgers, Swiss President Doris Leuthard said on Wednesday. “The government has not yet decided,” Leuthard told broadcaster Deutschlandfunk ahead of a meeting with German Chancellor Angela Merkel in Berlin. Some…