Ertuğrul Can Canbolat LL.M., S. İrem Akin and Baran Can Yildirim, LL.M. write: Under Article 12/5 of the Turkish Data Protection Law, the data controllers are obliged to inform the Turkish Data Protection Authority (“DPA“) in case the personal data processed on their behalf is acquired by others unlawfully. In line with this provision, ING…
Category: Financial Sector
Payment card dumps on dark web indicate compromise at Meezan Bank — researchers
In October, 2015, The Daily Times reported: The State Bank of Pakistan (SBP) has directed the banks to report in details about all established security breaches, its analysis and its designated payment systems department, on quarterly basis to explain the impact of security breaches on institution’s business, systems, applications and customers. The directives were issued…
Audacious Russian Hacker Who Stole From Victims Using NeverQuest Pleads Guilty
LawFuel reports: Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced that STANISLAV VITALIYEVICH LISOV, a/k/a “Black,” a/k/a “Blackf” (“LISOV”), pled guilty today to conspiring to deploy and use a…
Chinese bank’s software chief jailed after finding way to withdraw US$1m in ‘free’ cash from ATMs
Stephen Chen reports: Qin Qisheng, 43, a former manager in Huaxia Bank’s technology development centre in Beijing, spotted a loophole in the bank’s core operating system that meant cash withdrawals made around midnight were not recorded. The bank accepted his explanation that he had simply been trying to test its internal security and the cash…
Fallout Over Hack by N. Koreans Hits Philippines Bank
Christine Stuart reports: Bangladesh’s central bank brought a federal complaint against one of the largest banks in the Philippines on Thursday to recover $80 million that it says was stolen from North Korean hackers. At the time it was stolen from Bangladesh Bank, says lawyer John Sullivan of Yehudah Gordon, the money was being held…
In: SBI denies data leak charges, but customers be on alert
Saikat Das reports: State Bank of India, the country’s biggest lender, said that the data of its customers are safe and that it is continuing to probe the systems for a potential breach of security after a Techcrunch report on data compromise at the bank. “Basis our initial probe, we hereby confirm that SBI’s data…