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Legal

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JPMorgan criticised over mobile app patent award

JPMorgan criticised over mobile app patent award

JPMorgan Chase, the biggest bank in the US, has been awarded a patent for the technology that allows mobile applications that talk to each other, attracting criticism from the tech and intellectual property community that believe the process is so commonplace in today's smartphones that no single company, least of all a bank, can lay claim to the patent.

01 September 2017

Briton extradited from Germany over bank cyberattacks

Briton extradited from Germany over bank cyberattacks

Daniel Kaye, a 29 year old from Surrey, has been extradited from Germany to face allegations that he was responsible for a series of cyberattacks against two UK high street banks - Lloyds and Barclays.

31 August 2017

Australia regulates digital currencies

Australia regulates digital currencies

The Australian government has announced plans to strengthen its anti-money laundering rules with new reforms that will include digital currencies for the first time.

18 August 2017

Permission to appeal sought in £14bn Mastercard class action suit

Permission to appeal sought in £14bn Mastercard class action suit

Walter Merricks, the man spearheading a £14 billion class action lawsuit against Mastercard for overcharging customers, has lodged an appeal against a tribunal's decision to dismiss the claim.

14 August 2017

Cryptocurrency exchange operator indicted over massive bitcoin laundering scam

Cryptocurrency exchange operator indicted over massive bitcoin laundering scam

A US jury has indicted a Russian man arrested earlier this week in Greece accused of helping to launder more than $4 billion in bitcoin, including some obtained from the infamous Mt. Gox hack. In a coordinated move, the bitcoin exchange he operated has been slapped with a $110 million fine by American authorities for AML law violations.

27 July 2017

UK judge blocks £14bn class action suit against Mastercard

UK judge blocks £14bn class action suit against Mastercard

A Tribunal Court judge has blocked a £14 billion class action lawsuit against Mastercard for overcharging customers, agreeing that the claims were not suitable under the current collective actions regime.

21 July 2017

Competition watchdog forces ICE to sell Trayport

Competition watchdog forces ICE to sell Trayport

The UK's Competition and Markets Authority (CMA) has told Intercontinental Exchange that it must not only sell Trayport but also rip a commercial agreement with the energy trading technology shop it acquired for $650 million less than two years ago. ICE says it will comply.

07 July 2017

BBVA sets up Global Patent Office

BBVA sets up Global Patent Office

BBVA has set up a Global Patent Office to work with inhouse engineering and development teams to protect IP rights in new products as they emerge from the laboratory.

09 June 2017

Japan brings in high speed trading rules

Japan brings in high speed trading rules

Japan's financial services watchdog is to introduce new rules that will require high frequency trading firms to register with the regulator and demonstrate that they have proper risk management processes in place.

19 May 2017

Capco sues former UK boss for £145 million

Capco sues former UK boss for £145 million

FIS-owned consultancy Capco is suing its former UK boss Andrew Tarver for £145 million over allegations that he stole clients and conspired to cover up the evidence.

17 May 2017

TrueEX files anti-trust lawsuit against MarkitServ

TrueEX files anti-trust lawsuit against MarkitServ

US interest rate swaps exchange trueEX has filed a lawsuit against IHS Markit for allegedly engaging in anti-competitive practices in the post-trade processing arena.

09 May 2017

Palantir pays $1.66m to settle hiring discrimination suit

Palantir pays $1.66m to settle hiring discrimination suit

Palantir Technologies, a Peter Thiel-founded big data outfit which claims the SEC among its clients, will pay $1.66 million to settle a US government complaint that it discriminated against Asian job applicants.

26 April 2017

Russian hacker sentenced to 27 years in US prison

Russian hacker sentenced to 27 years in US prison

The son of a Russian lawmaker has been sentenced to 27 years in a US prison for hacking into retail POS systems and stealing millions of credit card numbers which he then sold on to other crooks.

21 April 2017

Prisoners build PCs from stolen parts then apply for credit cards in fellow inmate's name

Prisoners build PCs from stolen parts then apply for credit cards in fellow inmate's name

A pair of enterprising American prisoners managed to steal enough spare parts from a work programme to put together two computers, which they hid in a closet ceiling and used for various escapades, including to apply for credit cards in another inmate's name.

13 April 2017

SEC issues fake news crackdown

SEC issues fake news crackdown

The US securities watchdog has issued a series of fines and penalties to individuals and entities for submitting hundreds of articles to financial websites which purported to be impartial endorsements of certain companies but which were secretly paid-for

11 April 2017

US Supreme Court rejects effort to revive $5.7bn interchange settlement

US Supreme Court rejects effort to revive $5.7bn interchange settlement

The US Supreme Court has refused to revive a $5.7 billion class action settlement between millions of retailers and Visa and MasterCard over interchange fees.

27 March 2017

Russian hacker pleads guilty over $500m Citadel malware

Russian hacker pleads guilty over $500m Citadel malware

A Russian hacker accused of helping to develop and maintain the notorious Citadel malware toolkit, which was used to steal more than $500 million from bank accounts, faces up to 10 years in a US prison after pleading guilty to computer fraud.

23 March 2017

Law firm Addleshaw Goddard picks fintech startups for mentoring programme

Law firm Addleshaw Goddard picks fintech startups for mentoring programme

Addleshaw Goddard is the latest law firm to buddy up to the fintech community, picking seven startups to join a 12-month programme that will include legal advice and mentoring.

17 March 2017

UK competition watchdog tells Diebold Nixdorf to sell off some business

UK competition watchdog tells Diebold Nixdorf to sell off some business

The UK's Competition and Markets Authority (CMA) has ordered Diebold Nixdorf to sell one of its customer-operated ATM businesses.

16 March 2017

Former iPayment execs charged over multi-million dollar fraud scheme

Former iPayment execs charged over multi-million dollar fraud scheme

The Securities and Exchange Commission has charged two former iPayment executives with a scheme that allegedly saw them manipulate the credit card processing firm's accounting systems to steal millions of dollars.

13 March 2017