France’s use of HSBC client data stolen by a former HSBC employer continues to create international tension. France maintains that they have obtained the information legally and can use it, while HSBC and the Swiss government do not see the data as having been legally obtained. Peggy Hollinger reports France said yesterday that it had…
Category: Financial Sector
Heartland pays Amex $3.6M over 2008 data breach
Robert McMillan reports: Heartland Payment Systems will pay American Express $3.6 million to settle charges relating to the 2008 hacking of its payment system network. This is the first settlement Heartland has reached with a card brand since disclosing the incident in January of this year. […] This settlement resolves “all intrusion-related issues between the…
No law, no investigation. So change the law!
On August 28, Missouri’s new data protection law went into effect. Fat lot of good it did for past clients of Nationwide Credit Counseling. When their financial records, replete with personal information, were found in bankers boxes in a dumpster , were they notified of the breach? No. And was any action taken against the…
Former Lone Star National Bank VP convicted of bank fraud
A former vice president and senior loan officer of Lone Star National Bank has been convicted of bank fraud. Emma Vigil, 48, of McAllen, pleaded guilty to two counts of bank fraud. At the hearing, Vigil admitted to using her position at Lone Star to conduct hundreds of thousands of dollars in fraudulent and unauthorized…
BJ’s, Bank Not Liable for Credit Card Fraud
CUMIS Insurance Society and the credit unions it insures have failed in their lawsuit against BJ’s Wholesale Club and Fifth Third Bank over a 2004 breach that affected 9.2 million cardholders. The background of the case, as summarized in the court opinion: In February, 2004, Visa and MasterCard determined that computer thieves had gained access…
HSBC Heist Includes Data on 130,000 Clients Worldwide, JDD Says
Le Journal du Dimanche (JDD) reports that the data stolen from HSBC in Geneva includes information on 130,000 clients from around the world, according to a story in Bloomberg News that cites the paper and a French prosecutor, Eric de Montgolfier. A former employee at the Swiss bank leaked the information to de Montgolfier, who…