Stepan Kravchenko, Erik Larson, and Bob Van Voris report: An American fugitive who is accused of conspiring to organize the largest known cyber attack on Wall Street arrived back home in the U.S. from Russia, resolving months of negotiations at a moment of high tension over hacking between Moscow and Washington. Joshua Aaron pleaded not guilty…
Category: Financial Sector
EBA’s Proposed Guidelines Call for 2-Hour Notice of Data Breach
From PayBefore: The European Banking Authority (EBA) working with the European Central Bank (ECB) recently released a consultation paper on guidelines for payment service providers (PSPs) to follow in the event of security breaches. Among the suggested mandates is notifying authorities of an incident within two hours from the moment the breach is detected—that’s significantly faster than…
HK: Dozens of bank staff arrested over bribery-linked data leak
Esther Yu reports: Nearly 30 people have been arrested over allegations of bribery in order to obtain confidential customer information for loan business sales purposes, the Independent Commission Against Corruption said. Among the 29 people held after the graftbusters launched operation “Mirabilis” were three managers and 18 serving and former direct sales representatives of a…
Bank of Russia disclaims reports hackers steal 2B rubles from its correspondent accounts
The Bank of Russia (central bank) has disclaimed the reports hackers stole two billion rubles ($30.8 million) from its correspondent accounts. “The reports about stolen two billion rubles from the Bank of Russia’s correspondent accounts in a hacker attack are not true to life,” the regulator’s press service told TASS on Saturday. “The review of…
Your VISA Credit Card Can Be Hacked In Just Six Seconds: Study
Press Trust of India reports: It may take as little as six seconds for hackers to guess your credit or debit card number, expiry date and security code, say scientists who were able to circumvent all security features meant to protect online payments from fraud. Exposing the flaws in the VISA payment system, researchers from…
Russian central bank says bank account hacked in $45 million cyber heist
Andrei Ostroukh reports Hackers broke into accounts at the Russian central bank earlier this year by faking a client’s credentials and attempted to steal $45 million, the bank said in a report released on Friday. The bank said it managed to recover some of that amount—$26 million—but it did not say if that meant the…