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,…
Category: Financial Sector
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…
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…