Blog Posts Tagged with "Banking"

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U.S. Bank Employee Pleads Guilty to Account Theft

September 01, 2011 Added by:Headlines

Hurtado accessed U.S. Bank’s computer system and changed the contact information for the accounts of two elderly customers at the bank. After changing their contact information, Hurtado then allegedly closed these accounts and took out cashier’s checks for the balance of each account...

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GAO Report: FDIC Information Security is Inadequate

August 17, 2011 Added by:Headlines

According to the GAO, the FDIC has not always required strong passwords systems; reviewed user access to financial information; encrypted information transmitted over and stored on its network; protected powerful database accounts and privileges from unauthorized use...

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FINRA Fines Citigroup for Failing to Detect Fraud

August 11, 2011 Added by:Headlines

FINRA found that Citigroup failed to detect or investigate a series of "red flags" that upon further inquiry should have alerted the firm to the improper use of customer funds, including reports reflecting suspicious transfers of funds between unrelated accounts...

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Majority of Bankers Say Cyber Crime is Uncontrollable

August 11, 2011 Added by:Headlines

The results of a live poll conducted at its annual North American Insights client conference show fraud and cyber crime continue to be among the most daunting issues that banks are facing today. Bankers believe it is a challenge that they will never be able to get under control...

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JPMorgan Chase Banker Pleads Guilty to ID Theft

July 23, 2011 Added by:Headlines

Manhattan District Attorney Cyrus R. Vance, Jr., today announced the guilty plea of HAO “HOWIE” WANG, 28, for stealing more than $1.1 million from JPMorgan Chase and stealing the identities of four victims. WANG pled guilty to Grand Larceny, Identity Theft, Falsifying Records, and Forgery...

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Have I Been Skimmed???

July 19, 2011 Added by:Anup Shetty

Hardware tampering on handhelds are tough to crack unless multiple cases lead to the fraudsters. Awareness and regular tracking one's card accounts leads to detection. The next time you swipe your card at a tacky joint that, be sure to be more vigilant on your account...

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Authorities Arrest 61 in Global ATM Skimming Ring

July 18, 2011 Added by:Headlines

"What stands out to me is that they arrested 61 people and they anticipate more. I think it just shows how pervasive these skimming rings are. This isn't a couple of smart teenage hackers operating locally, but a globally organized operation..."

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Phishing Ring Leader Sentenced to Thirteen Years

June 29, 2011 Added by:Headlines

Operation Phish Phry revealed how Egyptian hackers obtained account numbers and personal identification information from bank customers through phishing — a technique that involves sending e-mail messages that appear to be official correspondence from banks or credit card vendors...

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Fraudulent Credit Applications Start with the Device

June 28, 2011 Added by:Robert Siciliano

Device fingerprinting coupled with the device’s reputation and risk profile helps identify the bad guys in the acquisition channel, so you don’t have to rely on other fraud detection tools that drive up the cost to decision an application...

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Authorities Bust $72 Million Dollar Conficker Fraud Ring

June 27, 2011 Added by:Headlines

"The Security Service of Ukraine, in coordination with the law enforcement agencies of United States, Great Britain, Netherlands, France, Germany, Latvia, Cyprus and other countries (10 in total), defeated illegal activity of the international criminal group of hackers..."

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Citigroup Lost $2.7 Million in May Hacker Attack

June 27, 2011 Added by:Headlines

Officials from the banking giant now assert that $2.7 million was stolen from about 3,400 accounts in the May attack. Citigroup immediately reported the security incident to law enforcement and regulatory authorities, but waited about three weeks before notifying affected customers...

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ATM Scammers’ New Tactic: Glue

June 22, 2011 Added by:Robert Siciliano

"Customers have already punched in their PINs when they realize the keypad buttons are stuck. The unwitting customers either do not know that they can use the ATM touch screen to finish their transaction, or become nervous when the keypad isn’t working and react by leaving the ATM..."

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Citigroup Reveals More Compromised Client Accounts

June 16, 2011 Added by:Headlines

"The customers' account information (name, account number and contact information, including email address) was viewed. However, data that is critical to commit fraud was not compromised: the customers' social security number, date of birth, card expiration date and card security code..."

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Citigroup Suffers Breach of Customer Information

June 09, 2011 Added by:Headlines

Citigroup has confirmed an unauthorized network access event may have compromised the account details of as many as two hundred thousand North American banking clients. Representatives said they detected the breach of the Citi Account Online network in May through routine monitoring...

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Open Your Box of IT Innovation

May 28, 2011 Added by:Rahul Neel Mani

Innovation and doing more with less are not just buzzwords. That doesn't mean having Systems up and running can take a back seat either. David Awcock, Head of Technology Standard Chartered Bank, shares his ideas in an interview with Minu Sirsalewala Agarwal, on how he manages both...

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Bank Employee Arrested for Hijacking Accounts

May 26, 2011 Added by:Headlines

Hurtado secretly accessed U.S. Bank’s computer system and changed the contact information for the accounts of two elderly customers. After changing their contact information, Hurtado then allegedly closed these accounts and took out cashier’s checks for the balance of each account...

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