William Sprouse reports the outcome of an arbitrated insider data breach case where a departing employee allegedly took client data with him to his new employer. I don’t think this case was ever covered on this site before, but Law360 had reported the lawsuit back in 2012. Sprouse reports: A FINRA arbitration panel ruled a…
Category: Financial Sector
Commercial Bank of Ceylon website hit by hack attack
Jason Murdock reports: The Sri Lanka-based Commercial Bank of Ceylon has released a statement admitting that a “hacking attack” on its website resulted in a successful intrusion – however, it maintained that no customer data has been compromised. The bank, which released a statement in the wake of major cyberattacks targeting the Bangladesh central bank…
NZ: Teen hacks up to $260,000
Police estimate a Gisborne teenager’s internet banking fraud could now have a tally as high as $260,000. Jake Kyle Hall, 19, yesterday pleaded guilty in Gisborne District Court to about 95 more fraud charges. He had already pleaded guilty last December to about 80 charges, with a total of his unlawful takings estimated at that time…
Southern Michigan Bank & Trust notifies customers of stolen laptop
Elena Hines reports: A Southern Michigan Bank & Trust employee’s vehicle was burglarized and a laptop stolen on April 10. The bank says there is no indication of a data breach, but staff are doing what they can to protect customers. “Once we became aware, we immediately took several steps to protect our clients,” said…
Swift Warns of New Hacker Attack on Bank After Bangladesh Heist
Trista Kelley reports: Swift, the inter-bank messaging system embroiled in one of the largest cyber heists in history, warned customers that hackers have struck again, attacking a commercial bank client that it didn’t name. The details of a second hack follow a cyber theft in February, when more than $80 million was stolen from Bangladesh’s account at…
Three hacking groups linked to Bangladesh bank theft worth $104 million
Arun Devnath and Michael Riley report: Investigators examining the theft of $104 million from Bangladesh’s central bank have uncovered evidence of three hacking groups — including two nation states — inside the bank’s network but say it was the third, unidentified group that pulled off the heist, according to two people briefed on the progress…