Ben Grubb and Clancy Yeates report: The private details of almost 100,000 Australian bank customers have been exposed in a cyber attack on the real-time payments platform PayID, which allows the instant transfer of money between banks using either a mobile number or email address. The attack on Westpac, which also affects customers from other…
Category: Financial Sector
Bank customers’ personal data sold to credit card salespeople: Kompas investigation
The Jakarta Post reports: A network of credit card salespeople and bank employees have been trading the personal information of bank customers and credit card holders with each other in an effort to make quicker sales, as reported by Kompas daily in a recent investigation. Personal information sold by the salespeople comprised a customer’s name,…
FirstBank Canceling Debit Cards Due To ‘Possible External Security’ Incident; Accounts May Have Been Compromised, The Bank Warns
FirstBank, whose presence in the U.S. Virgin Islands is second only to Banco Popular’s, is canceling debit cards as soon as Monday because of what the bank described as a “possible external security” incident that affected the bank. The debit cards are being canceled, FirstBank said in emails sent to account holders, because accounts may…
SEC Warns Advisers Over Privacy Compliance Issues
Craig A. Newman of Patterson Belknap writes: The Securities and Exchange Commission is warning investment firms to step up their game when it comes to following the agency’s privacy rules. In a Risk Alert issued by the Office of Compliance Inspections and Examinations (OCIE), a laundry list of compliance “deficiencies or weaknesses” were identified in…
Marcus Hutchins’ plea leaves unsettled whether writing certain types of code is illegal – Ekeland
In May, 2017, a young man from the U.K. became known as an “accidental hero” for saving the world from the further spread of WannaCry ransomware. But months later, this same hero, Marcus Hutchins, known online as @MalwareTech, was arrested in the U.S. as he tried to fly home after attending the Black Hat and…
SEC Issues Privacy and Data Security Risk Alert
Joseph Lazzarotti of JacksonLewis writes: Following recent examinations of SEC-registered investment advisers and broker-dealers, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) published a privacy risk alert on April 16, 2019. OCIE is hoping to remind advisers and broker-dealers about providing compliant privacy and opt-out notices, and adopting and implementing effective policies and…