Sensitive documents containing personal banking information were recently discovered in a Campbell River recycling depot by a Nanaimo man. The documents were found at the Vancouver Island Recycling Centre earlier this month and the discovery raises questions about the proper disposal of sensitive information by financial institutions. A multi-coloured plastic ribbon, stretching about 15 metres…
Category: Financial Sector
FL: 1 arrested, 3 sought in ATM ‘skimmer’ scheme
Elaine Silvetrini reports: Four Bulgarian men put “skimmers” on ATM machines at SunTrust banks in Hillsborough and Pinellas counties last summer and obtained identifying information on hundreds of bank accounts, according to a federal complaint. The information was used to withdraw nearly $200,000 from the compromised accounts. Federal authorities have arrested one of the suspects…
N.Y. Firm Faces Bankruptcy from $164,000 E-Banking Loss
Brian Krebs has a piece reminding us that businesses don’t have the same protection as individuals when bank accounts are hit by fraud and/or when the cause of the breach is that the user’s system was infected by malware: A New York marketing firm that as recently as two weeks ago was preparing to be…
The Cost Of A Breach, Heartland Style: At Least $129 Million; Might Be $229 Million
Evan Schuman comments: In its latest financial report, Heartland Payment Systems reported that it dropped $129 million on data breach costs last year (an incident that briefly placed Heartland on Visa’s Bad Breach Boy list). The company added that it still has a reserve of $100 million for additional expenses. As a processor, Heartland’s pain…
UK: Mortgage company accidentally discloses over 15,000 account details
The Information Commissioner’s Office (ICO) has found Redstone Mortgages Ltd in breach of the Data Protection Act (DPA) after personal information relating to 15,333 mortgage accounts was emailed to a member of the public by mistake. The information, which included personal data relating to individuals’ arrears or possession proceedings, was sent to Redstone’s head office…
Another business sues its bank over unauthorized ACH transactions
Brian Krebs on another case where a business is suing its bank over unauthorized transactions that were not credited or reversed by the bank: On Feb. 10, Hudson, N.H. based Cynxsure LLC received a voicemail message from its bank, Swift Financial, a Wilmington, Del. institution that focuses on offering financial services to small businesses. The…