Reuters reports on another aspect of HSBC-French tax mess: the ex-employee’s allegations that he tried to warn the private bank: IT specialist Herve Falciani, an ex-HSBC employee accused of handing data taken in 2006 and 2007 to the French, told Le Figaro he had passed the information to French tax authorities after it was ignored…
Category: Financial Sector
(follow-up) France stands by use of stolen bank data
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…
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…