It’s not just the FTC looking at your security and your representations to clients about the security of your product. While the FTC recently settled charges against Henry Schein Practice Solutions for advertising a Dentrix product as providing “encryption” when it didn’t, the Consumer Financial Protection Bureau is also taking aim at companies that mislead consumers about security,…
Category: Financial Sector
Leader Of Global Cybercrime Campaigns Pleads Guilty To Computer Intrusion And Access Device Fraud Conspiracies
There’s an update to a previously reported case involving a Turkish man accused of involvement in a massive scheme that netted over $50 million from financial institutions: Earlier today, Ercan Findikoglu, a Turkish citizen also known by the online nicknames “Segate,” “Predator,” and “Oreon,” pleaded guilty to computer intrusion conspiracy, access device fraud conspiracy, and effecting transactions with…
UK: Norwich & Peterborough tighten security after criminals target ATMs in the city
It sounds like a lot of customers had their accounts robbed by skimmers placed on Norwich & Peteborough Building Society ATMs. Of note, it seems that if this thing happens on the weekend and you call their helpline, they can’t do anything useful like freeze or cancel your account? That’s bad for consumers, good for criminals. Read…
ZM: High Court charges 3 Bulgarians in ATM fraud case
Abigail Sitenge reports on a situation in Zambia: High Court deputy director of court operations Joshua Banda has placed three Bulgarians on their defence in a case where they are charged with unauthorised access or interception to data and theft. Allegations are that Milko Stayanov Kostadivov, 44, Hristo Ivanon Donkon, 39, and Hassan Alwe Al…
NY: Ringleader In Orange County Bank Fraud And Identity-Theft Scheme Convicted
Attorney General Eric T. Schneiderman today announced the conviction of ringleader Tyrone “Reece” Lee, 29, for running an identity-theft ring that stole over $457,000 from customers of Wachovia Bank (now Wells Fargo) in Newburgh, N.Y. Following a trial in Orange County Court, the jury convicted Lee of all 15 Counts charged, including Grand Larceny and…
Wakey, Wakey: Breached Credit Union Comes Out of its Shell
From the we-tried-to-notify-you dept. Brian Krebs reports: Notifying people and companies about data breaches often can be a frustrating and thankless job. Despite my best efforts, sometimes a breach victim I’m alerting will come away convinced that I am not an investigative journalist but instead a scammer. This happened most recently this week, when I told a California credit…