The small tax haven of Liechtenstein is preparing to backpedal on an agreement with Germany to crack down on tax dodgers, and now plans to give no help if investigations are based on stolen data, a report said Wednesday. The tiny alpine principality, which lies between Switzerland and Austria, intends to introduce new clauses into…
Category: Financial Sector
79,000 clients identified from stolen HSBC data: prosecutor
Some 79,000 customers have been identified from data stolen from a Swiss unit of HSBC bank, a French prosecutor said Tuesday, citing a far higher number than previously made public. The chief executive of HSBC Private Bank (Switzerland) said last month that details on 24,000 bank customers may have been leaked in the theft three…
FINRA Fines D.A. Davidson & Co. $375,000 for Failure to Protect Confidential Customer Information
The Financial Industry Regulatory Authority (FINRA) issued the following press release today: The Financial Industry Regulatory Authority (FINRA) announced today that it has fined D.A. Davidson & Co., of Great Falls, MT, $375,000 for its failure to protect confidential customer information by allowing an international crime group to improperly access and hack the confidential information…
Court to Notify Countrywide Customers About a Class Action Settlement Involving the Theft of Personal and Financial Data
A press release from the United States District Court for the Western District of Kentucky: A notification program began today in the United States, including Puerto Rico and recognized territories of the U.S., as ordered by the United States District Court for the Western District of Kentucky (the “Court”), to alert people who provided their…
(follow-up) Data theft puts LPL clients at risk
Bruce Kelly of Investment News has more on the recent LPL Financial breach reported previously here. Kelly reports that LPL’s chief risk officer, John McDermott, says that LPL advisers guilty of mishandling or losing client data face an escalating series of punitive measures — “starting with a formal reprimand, then fines and ultimately termination.” McDermott…
BofA insider to plead guilty to hacking ATMs
Robert McMillan reports: A Bank of America computer specialist is set to plead guilty to charges that he hacked the bank’s automated tellers to dispense cash without recording the activity. Rodney Reed Caverly, of Charlotte, North Carolina, is scheduled to plead guilty to a computer fraud charge next Tuesday in federal court in Charlotte, according…