Julia reports: The half ton of recycled confetti provided to buildings lining the Canyon of Heroes in downtown Manhattan for the Yankees’ victory parade yesterday turned out not to be enough for some people to show their enthusiasm. Medical records, financial statements, pay stubs, law firm invoices and court records were found in the fifty…
Category: Financial Sector
MassMutual warns of data breach
Jaclyn Cashman reports: “MassMutual can confirm that, despite comprehensive procedures and diligent practices to protect confidential and private data concerning employees at MassMutual and several of its subsidiaries, a limited amount of personal employee information maintained in a database by an outside vendor (engaged by the company) may have been subject to unauthorized access. However,…
FSA condemns weak controls at UBS that allowed rogue traders to flourish
Michael Herman reports: The Financial Services Authority (FSA) has fined UBS £8 million for weak controls that allowed staff in its private bank to make thousands of unauthorised trades with clients’ money and then hide the losses. It is the third-largest fine awarded by the FSA. Four private bankers in UBS’s London office were able…
Vann sentenced in ID scheme that used mortgage and credit files
A Thousand Oaks man was sentenced yesterday to 95 months in federal prison for orchestrating an identity theft scheme in which he used personal identifying information taken from dozens of mortgage and credit files to fraudulently obtain credit cards that were used to purchase more than $1 million in goods and services. Visanio Eugene Vann,…
Heartland Payment Systems Reports Third Quarter Financial Results
Heartland Payment Systems, Inc. announced a GAAP net loss of $13.6 million or ($0.36) per share for the three months ended September 30, 2009. Results for the quarter are after $35.6 million (pre-tax), or $0.59 per share, of various expenses, accruals and reserves, all of which are attributable to the processing system intrusion, including charges…
CT man pleads guilty to using stolen “convenience checks” to defraud banks
Justin Edwards, 27, of Coventry, Connecticut pleaded guilty today before United States District Judge Stefan R. Underhill in Bridgeport to four counts of bank fraud and one count of conspiracy to commit bank fraud. According to court documents and statements made in court, between July 2007 and March 2008, Edwards and a co-defendant stole balance…