Marion Dakers reports: The Securities and Exchange Commission is pursuing a British man over claims he hacked into US investors’ accounts to place unauthorised trades. The American financial regulator has asked a New York court to freeze the assets of Idris Dayo Mustapha while it tries to recover the proceeds of his alleged trades and…
Category: Financial Sector
Bank of Montreal ATM “hacked” with default password
CORRECTION: This story was originally reported in 2014. Not sure why CJAD reported it as recent news, but thanks to Catalin Cimpanu for letting me know. Original post: So… in a story about another breach, which was also linked to using a default password, CJAD in Canada mentioned a breach that occurred last week: Two 14-year-old high school…
Former Goldman Sachs Banker Barred From Industry Over Fed Leak
Jesse Westbrook reports: A former Goldman Sachs Group Inc. banker who pleaded guilty to receiving documents that had been misappropriated from the Federal Reserve Bank of New York has been banned from the financial industry. The U.S. Securities and Exchange Commission agreed to a settlement with Rohit Bansal that bars him from any association with…
Morgan Stanley Fined Over Inadequate Security Tied to Galen Marsh Data Breach
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…
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…