Mara Bernath and Hugo Miller report: A former UBS Group AG employee, who fled the country rather than face trial, was found guilty of money laundering by a Swiss court over allegations of the theft and sale of client data to German tax authorities. Rene S., as Bloomberg has identified him, was sentenced by a…
Category: Financial Sector
Bank Worker Forced by Darknet Criminals to Make Fraudulent Transfers
Bruno writes: A bank employee in Scotland stole £75,000 from bank customers after involving himself with a crime gang from a dark web forum. Dayne Lynn, a 22-year-old from North Ayrshire, became interested in the dark web after watching a Netflix documentary, presumably Dark Net. He decided to see with his own eyes if what…
BlackRock exposes info on thousands of advisers via website
Bloomberg reports: BlackRock Inc., the world’s largest asset manager, inadvertently posted confidential information about thousands of financial adviser clients on its website. The data appeared in three spreadsheets, linked on one of the New York-based company’s web pages dedicated to its iShares exchange-traded funds. The documents included names and email addresses of financial advisers who buy…
Ex-UBS Employee Charged With Data Theft on Trial in Switzerland
Hugo Miller reports: An ex-employee of UBS Group AG charged with stealing data on the bank’s clients and selling it to German tax authorities stands trial in Switzerland on Monday, in a case that rakes up the thorny issue of whether such leaks are the work of a whistleblower or a thief. The man, whom…
Brazilian bank Inter pays fine over customer data leak
Angelica Mari reports: Brazilian bank Inter has achieved a settlement over a major security flaw that leaked data of nearly 20 thousand account holders earlier this year. Under the conclusion for the case, announced by Brazil’s Public Prosecutor’s Office (PPO) on December 18, the bank will pay 1.5 million reais ($382,000) as a means to…
SD Calif. Dismisses Data Security Breach Class Action Against Mortgage Company
Christopher P. Hahn. writes: The U.S. District Court for the Southern District of California recently dismissed a consumer’s putative class action lawsuit against a mortgage lending and servicing company for purported damages sustained as a result of a security breach wherein his personal information was compromised, and the hackers attempted to open credit cards in…