Latest Legal News: Finextra Research

US banks sued over ATM fees

A New Jersey man has sued Bank of America, JPMorgan Chase and Wells Fargo, claiming that they collude to fix the fees charged to withdraw money at ATMs.

20 October 2011

News/Legal

Chip and PIN eftpos fraudster jailed for three years

A German electronics engineer who helped criminal gangs clone credit and debit cards that were used to steal thousands of pounds, has been sentenced to three years in jail.

14 October 2011

News/Legal

Ex-Citadel staffer charged over code theft

A former Citadel quantitative financial engineer has been arrested and charged in relation to the theft of trading-related computer code.

14 October 2011

News/Legal

Visa and MasterCard face ATM price-fixing suit

Independent ATM operators in the US have filed an anti-trust lawsuit against Visa and MasterCard, alleging that the card issuers' rules artificially inflate and fix the price of cash machine access fees.

12 October 2011

News/Legal

Woman cautioned for ATM shoe attack

A British woman has been given a police caution for attacking a cash machine with her high-heeled shoe.

27 September 2011

News/Legal

RBS WorldPay hacker's property auctioned off

Flats and cars belonging to one of the ringleaders of the 2008 cyber-attack on RBS WorldPay, which led to the theft of over $9.4 million, have been auctioned off to compensate the bank, according to local press reports.

21 September 2011

News/Legal

UBS trader charged with fraud

Kweku Adoboli, the UBS trader allegedly responsible for losses of $2 billion in unauthorised trades, has been charged with fraud.

16 September 2011

News/Legal

UK to sue European Central bank over clearing rules

The British government is to sue the European Central Bank over draft regulations that would force major clearing houses to relocate their operations away from the City of London.

15 September 2011

News/Legal

US credit card crook jailed for 14 years

A US man has been sentenced to 14 years in jail for running an online business selling counterfeit credit cards that were used to steal more than $3 million.

12 September 2011

News/Legal

Man pleads guilty to $2m ATM scam

An ATM network operator employee has admitted stealing around $2 million from the bank he was looking after machines for.

09 September 2011

News/Legal

Hedge fund sues boss's wife for hacking computer

A New York hedge fund is suing the wife of its boss for $25 million, accusing her of hiring a firm to hack into a computer at their house and copy files, including "proprietary algorithms and investment strategies".

01 September 2011

News/Legal

Citadel gets restraining order against employee it says stole data

Hedge fund Citadel has been granted a temporary restraining order against an employee it says transferred "massive amounts of highly confidential" information from its computer systems to external devices.

31 August 2011

News/Legal

Hong Kong police make arrest over stock exchange hack

Hong Kong police have arrested a man in connection with a cyber-attack earlier this month on the Island's stock exchange.

24 August 2011

News/Legal

Kabbage raises $17m; granted US patent

Kabbage, a US start-up that provides working capital advances to online merchants, has raised $17 million in a series b funding round joined by Square co-founder Jim McKelvey.

17 August 2011

News/Legal

Bank backs down and reimburses cyber-attack victim

Comerica Bank has ditched plans to appeal the ruling of a Michigan court last month and has reimbursed a small business customer that was hit by wire fraud scammers.

03 August 2011

News/Legal

Men accused of doctoring Dunkin' Donut gift cards to steal from ATM

New York authorities have indicted two men accused of withdrawing more than $17,000 from ATMs using Dunkin' Donut gift cards that they had re-encoded with stolen bank account information.

02 August 2011

News/Legal

FBI arrests 14 over PayPal cyber-attack

The FBI has arrested 14 people accused of involvement in last year's cyber-attack on PayPal's Web site by 'Anonymous' in retaliation for the company's closure of a donation account for Wikileaks.

20 July 2011

News/Legal

Another US bank sued by hacked customer

California-based Village View Escrow has become the latest US business to sue its bank after having its account drained by cyber-thieves.

19 July 2011

News/Legal

UK phishing gang members jailed

Three men who successfully stole millions of pounds in a concerted phishing campaign have been jailed for a total of 13 years and six months.

12 July 2011

News/Legal

EU courts open hearing into MasterCard fees

MasterCard's long-running legal challenge against the European Commission's 2007 decision on the company's cross-border consumer interchange fees has been aired at the EU General Law Cout in Luxembourg, with the card scheme declaring that "the future direction of European payments is stake".

11 July 2011