James Langton reports: An Ontario court has approved proposed class action settlements with Bank of Montreal (BMO) and CIBC over cybersecurity breaches involving thousands of clients. The Superior Court of Justice endorsed settlements and distribution plans designed to resolve lawsuits against the banks stemming from a data theft that affected more than 10,000 clients of…
Category: Financial Sector
AU: National Australia Bank repays customers $687k for 2019 data breach
James Frost reports: National Australia Bank has revealed it paid $686,878 in compensation to customers exposed in a 2019 data breach after the personal account details of more than 10,000 customers were uploaded to a website similar to Google Sheets. The bank said it provided thousands of customers with a one-off payment while a smaller…
Bank Groups Object to Proposed Breach Notification Regulation
Doug Olenick reports: The American Bankers Association and three other groups have voiced objections to provisions in a cyber incident notification regulation for banks proposed by three federal agencies. For example, they say that the definition of a reportable “computer security incident” is too broad and would result in the reporting of insignificant events. The…
Br: Leak exposes 1.7 TB of customer data from Brazilian fintech iugu
Felipe Demartini reports (translation): A serious security breach exposed the information of, it is believed, all customers of the iugu services company, which operates in Brazil through financial management and automation systems. Users’ personal, banking and transaction data was available on an unprotected server for at least an hour. The discovery is by security expert…
Capital One notifies more clients of SSNs exposed in 2019 data breach
Sergiu Gatlan reports: US bank Capital One notified additional customers that their Social Security numbers were exposed in a data breach announced in July 2019. The day the breach was disclosed, the Department of Justice arrested and indicted the suspected hacker, former Amazon Web Services (AWS) employee Paige Thompson, who posted about stealing data on GitHub after infiltrating Capital One’s AWS…
UK: Print group hit by cyber attack
Jo Francis reports: It is believed that cyber criminals may be specifically targeting firms that provide support services to financial institutions. Operations at MBA Group, which has sites in London and Warrington, have been affected after the business was subjected to an attack. In a statement, sales director Kevin Stewart said the firm hoped to…