Glen A. Kopp and Laura Preback Hang of Bracewell LLP write: A Lincoln Financial Group subsidiary agreed to pay $650,000 to the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to implement sufficient security policies to protect confidential customer information after its web-based customer account database was hacked in 2012. The 2012…
Category: Financial Sector
Russian hackers target cash before politics
Thibault Marchand reports: Just as the scandal over alleged Russian hacking of the US Democratic Party erupted in June, police in Russia were rounding up a group known as Lurk. In the underground world of Russian hackers, a shadowland of anonymous internet forums where users exchange the latest malware, Lurk was legendary. The group, active…
Update: Tesco Bank refunds £2.5 million to customers after weekend’s security breach
Anthony Spadafora reports: Tesco Bank has released more details regarding the cyber attack that took control of its online accounts and led the bank to freeze all of its users online transactions. Over the weekend the bank was hit by an attack that it initially thought affected 20,000 customers. However, Tesco Bank has now revealed that…
Hacker Claims to Take Down Russian Bank Websites on Election Day
Joseph Cox reports: Just as Americans are lining up to vote, one DDoS-for-hire service has already claimed responsibility for several brief attacks against Russian targets, apparently in response to the country’s alleged interference throughout the US election. On Tuesday, a hacker calling himself vimproducts showed Motherboard a selection of Russian banking and other financial websites, before claiming…
Would your Twitter team recognize when they’re being informed of a hack?
It sounds like such a simple question that should have an obvious “yes” answer, but you might be surprised to see what happens when hackers taunt social media teams about hacks. It’s an issue I’ve mentioned before: NullCrew revealed that they had access to Bell’s server for months, and had disclosed that to them in a…
Tesco Bank blocks some customers’ cards after apparent mass fraud targeting its accounts
ITV News reports: Tesco Bank has blocked some customers’ cards after fraudsters seemingly targeted the banks customers. Thousands of accounts were reportedly affected, with many people taking to social media to alert the bank to suspicious activity. One man tweeted his available balance had dropped by £700 without him making a transaction while another said…