Hoa Quach reports: The lead defendant in a fraud case involving Wells Fargo employees who stole customer account data that was used to impersonate victims and steal money from their accounts is due to be sentenced in July after pleading guilty to federal charges. Ronald Charles Reed, 69, of Inglewood pleaded guilty Thursday in U.S….
Category: Financial Sector
FINRA fines Raymond James $500,000
Linn Freedman of Robinson & Cole writes: Financial services firm Raymond James Financial Services Inc. (Raymond James) has agreed to settle an investigation by the Financial Industry Regulatory Authority (FINRA) for $500,000. The investigation stems from allegations that Raymond James requested that new financial advisers disclose and bring confidential customer information to Raymond James when…
Hackers spear phish dozens of Russian banks, posing as FinCert
TASS reports: Hackers attacked dozens of Russian banks by sending letters on behalf of FinCert on Tuesday, March 15, Kaspersky Lab said in a report on Wednesday. FinCert is a structure of the Central Bank, which warns financial institutions of cyber threats. “On March 15, dozens of Russian banks became targets of cyberattacks by means…
Malware suspected in Bangladesh bank heist: officials
Serajul Quadir reports: Investigators suspect unknown hackers installed malware in the Bangladesh central bank’s computer systems and watched, probably for weeks, for how to go about withdrawing money from its U.S. account, two bank officials briefed on the matter said on Friday. More than a month after hackers breached Bangladesh Bank’s systems and attempted to…
Billion dollar bank heist foiled by hacker’s typo
The Telegraph reports: A spelling mistake in an online bank transfer instruction helped prevent a nearly $1 billion (£700 million) heist last month involving the Bangladesh central bank and the New York Fed, banking officials said. Unknown hackers still managed to get away with about $80 million, one of the largest known bank thefts in…
Vantage Credit Union employee helped steal thousands from customers
Bailey E Kinney reports: A Vantage Credit Union employee has been charged with identity theft after stealing banking information from customers. Charging documents say 28-year-old Tiara Franklin transferred funds totaling $29,600 into three accounts without the knowledge or consent of the account holders. Franklin was an employee at Vantage Credit Union’s call center located on West…