Ryan W. Neal reports: Morgan Stanley has asked a New York federal court to throw out a class action lawsuit alleging the firm failed to properly wipe sensitive client information from decommissioned computer equipment that has since gone missing. The former clients cannot plausibly identify instances of personal data being accessed or misused, or any…
Category: Financial Sector
Inside Forkbombo, the dreaded Kenyan cybercrime gang
Brian Wasuna reports: When financial institutions in Kenya started recording increased cyber-attacks in 2010, it was believed the country’s detectives would easily stamp out the crime. Back then, most cybercrime incidents involved hackers stealing small amounts of money that were near impossible to detect, before graduating to big money heists, in a what is known…
ClearBalance notifying more than 209,000 patients who have medical expense loans
Many readers may never have heard of CSI Financial Services, LLC but as ClearBalance, the California firm services loans made by hospitals and providers to patients who need to finance medical expenses. A recent filing with the Maine Attorney General’s Office reveals that beginning on March 8, there was unauthorized access to some employee email…
Romanian 19-year-old charged with thousands in local ATM withdrawal thefts
Jefferson Robbins reports: A California man suspected of using bogus credit cards to steal about $16,000 from Wenatchee Valley ATMs is now in custody. Fabio Ciuciu, 19, has been identified as the person in a photograph taken from a Cashmere Valley bank cash machine in February 2019, when he allegedly sought to withdraw cash on…
NC: Hackers Steal Critical Customer Data From Bank Of Oak Ridge
Scott D. Yost reports: Social Security numbers. Bank account numbers. Dates of birth. Driver’s license numbers. Customers of the Bank of Oak Ridge have had all that information exposed due to a security breach. Hackers have hit the bank and unknown or undisclosed numbers of customers have had key data stolen. A letter informing customers…
NYDFS Issues Guidance on Cybersecurity Controls to Combat Ransomware and Clarifies Reporting Obligations
Lance Taubin, Kate Hanniford, and Kimberly Peretti of Alston & Bird write: The New York Department of Financial Services (NYDFS) issued new guidance this week intended to assist organizations in thwarting ransomware attacks. The guidance clarifies the NYDFS’ expectation that NYDFS-regulated companies should “implement these controls whenever possible” and report any successful deployment of ransomware…