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…
Category: Financial Sector
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…
New Jersey pastor indicted for bribery in case tied to JPMorgan hacking
Nate Raymond reports: A New Jersey pastor was indicted on Thursday for an alleged bribery scheme involving a bitcoin exchange owned by an Israeli man linked to cyber attacks on JPMorgan Chase & Co and other companies. Trevon Gross, the pastor and former chairman of the Helping Other People Excel Federal Credit Union of Jackson,…
CFPB fines start-up Dwolla $100,000 for misrepresenting its data security
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,…
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…