Caleb Pershan reports: California Attorney General Kamala Harris is leading an investigation into whether criminal identity theft took place at Wells Fargo, a bank embroiled in a scandal that may involve up to two million bank and credit card accounts allegedly created without customers’ approval as part of an unscrupulous, sales-driven corporate culture. The LA…
Category: Financial Sector
Bank informs RBI of security breach: Axis suffers cyber attack, hires EY to probe damage
Sugata Ghosh and Sachin Dave report: A month ago, an official of Axis Bank– India’s third largest private sector lender — received an unexpected telephone call. The caller, an engineer at Kaspersky Lab, the well-known Moscow-headquartered cyber security firm, rattled off the names of several Axis computers which, he claimed, have been breached. The Kaspersky…
Security breach: State Bank of India blocks over 600,000 debit cards after malware breach at non-SBI ATMs
ToI reports: Pune: In one of the biggest card replacements in Indian banking, State Bank of India has said that it will re-issue around six lakh debit cards to customers, which have been blocked following a malware-related security breach in a non-SBI ATM network. “It’s a security breach, but not in our banks’ systems. Many other banks also have this…
NV: About 1,000 Members Victimized In Skimming Breach
CU Today reports that approximately 1,000 members of One Nevada CU have been victimized by an ATM skimmer. Barnes would not disclose which office’s ATM the skimming device was attached to, but news reports stated the device was found at its office located near Blue Diamond Road and Decatur Boulevard. Barnes said the device has been removed….
New York State Proposes Cybersecurity Regulation for Financial Services Institutions
Micaela McMurrough, Ashden Fein and Catlin Meade write: On September 13, 2016, New York Governor Andrew Cuomo announced a proposed regulation that would require financial service institutions to develop and implement cybersecurity programs to prevent and mitigate cyber-attacks. The proposed regulation will be subject to a 45-day comment period once it is published in the New York State…
BDSwiss Employee Data Allegedly Stolen, Investigations Pending
Victor Golovtchenko reports: According to sources with knowledge of the matter, who have been in contact with Finance Magnates, data files of an employee of forex and binary options brokerage BDSwiss have been accessed via his stolen laptop. The contents of the information have purportedly not been related to the company’s database and the information…