Matt Robinson reports that Morgan Stanley has been fined $1 million by the U.S. Securities and Exchange Commission to settle allegations that it failed to protect customer data improperly taken by a former financial adviser, Galen Marsh. Marsh pleaded guilty in September, 2015 to making thousands of unauthorized searches on his employer’s system and to copying information on…
Category: Financial Sector
Russian Police Arrests 50 Hackers in Its Largest Cybercrime Bust
Catalin Cimpanu reports: Russian authorities have conducted a large-scale raid that resulted in the arrest of 50 people suspected of being part of a cyber-criminal group that has stolen more than $45 million (3 billion rubles) from banks and other financial companies since 2011. Russia’s FSB (Federal Security Service, formerly KGB) reported yesterday that 18 of the…
Fed records show dozens of cybersecurity breaches
Jason Lange and Dustin Volz reports: The U.S. Federal Reserve detected more than 50 cyber breaches between 2011 and 2015, with several incidents described internally as “espionage,” according to Fed records. The central bank’s staff suspected hackers or spies in many of the incidents, the records show. The Fed’s computer systems play a critical role…
Researchers say Bangladeshi bank hacking may relate to N. Korea
AP reports: Cybersecurity researchers say North Korea might be connected to a recent attack that resulted in the theft of over $100 million from the Bangladeshi central bank and the attempted thefts of millions more from other Asian banks. If the finding holds up, the attacks would amount to a new strategy for the rogue…
Swift Hack Probe Expands to Up to a Dozen Banks Beyond Bangladesh
Michael Riley and Alan Katz report: Investigators are examining possible computer breaches at as many as 12 banks linked to Swift’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar with the probe. FireEye, the security firm hired by…
Now It’s Three: Ecuador Bank Hacked via Swift
If you’d worry more about the health of your industry and all the consumers your industry serves instead of worrying just about your reputation and fallout, we might not be dealing with as many breaches. Share information, people! Devlin Barrett and Katy Burne report: A little-noticed lawsuit details a hacking attack similar to one that…