If you can’t prevent a breach, can’t you at least fake genuine concern? You know, the “At <blahblahblah>, we take your privacy and security very seriously” bit? Mark Flamme reports on a Key Bank breach where the bank’s response to notification of a problem is at least as problematic as the breach itself. After a…
Category: Financial Sector
Leader of Russian computer hacker gang who stole £2m from British firms’ bank accounts jailed for nine years
Darren Boyle reports: A Russian man who ran a sophisticated computer hacking network which stole at least £2 million from the bank accounts of UK businesses has been jailed for nine years. Vugar Mollachiev, 37, of Berkeley Gardens, north London, was sentenced to nine years imprisonment at Southwark Crown Court for conspiracy to defraud and…
Malaysia’s CIMB says backup tapes with customer data lost
Malaysia’s CIMB Group Holdings said some magnetic tapes containing back-up customer data were lost during routine operations, but added that there has been no evidence that any data has been compromised, Reuters reported on Monday. Malaysia’s second biggest lender said the tapes do not contain any authentication data such as pin numbers, passwords or credit…
Reserve Bank of India Fines Yes Bank $1 Million for Tardy Breach Reporting
Suparna Goswami reports: The Reserve Bank of India has slapped a $1 million (U.S.) penalty on Yes Bank for failing to promptly notify the central bank of a 2016 data breach of its ATM network. This is reportedly the first such penalty imposed on a bank. OK, this was a breach of the Yes Bank…
PH: Privacy watchdog ‘monitoring 24/7’ COL Financial’s data hack probe
Five days to issue a comprehensive report? Imagine if that happened here…. Daxim L. Lucas reports: The government’s privacy watchdog said on Sunday that it was closely monitoring the “possible personal data breach” on the country’s largest online stock brokerage firm, which has almost a quarter of a million clients trading shares its internet-based trading…
South Korean Gov’t Investigating Bithumb Security Breach, World’s Largest Cryptocurrency Exchange
Joseph Young reports: Local news publications and leading media outlets in South Korea have reported that Bithumb, the world’s largest cryptocurrency exchange by trading volume, suffered a security breach that affected 30,000 users on the trading platform. Seoul Central Prosecutor’s Office for Advanced Criminal Investigation has announced that it had taken over the case and…