Latest Legal News: Finextra Research

SEC charges computer programmers over Madoff fraud

The Securities and Exchange Commission has charged two computer programmers accused of helping Bernard Madoff cover up his multi-billion dollar Ponzi scheme.

13 November 2009

News/Legal

US indicts eight over RBS WorldPay ATM heist

A US federal grand jury has indicted eight Eastern Europeans in connection with a crime ring accused of hacking into the computer network of RBS WorldPay, creating counterfeit debit cards and withdrawing over $9 million in 12 hours from ATMs around the world.

11 November 2009

News/Legal

Europe opens anti-trust probe into Reuters Instrument Codes

The European Commission has opened anti-trust proceedings against Thomson Reuters over possible abuse of its dominant market position in the supply of Reuters Instrument Codes.

10 November 2009

News/Legal

VeriFone and Heartland legal spat escalates

An increasingly bitter battle between VeriFone and Heartland Payment Systems that has seen both file lawsuits in recent weeks, was stepped up today when VeriFone confirmed that it will terminate technical support relationships, and will instead offer free services to mutual merchant customers.

03 November 2009

News/Legal

Former bank computer technician charged in $1m ID theft scheme

A computer technician has been charged with stealing the identities of more than 150 former colleagues at the Bank of New York Mellon and using the information to pilfer over $1.1 million from charities, non-profit groups and other institutions.

29 October 2009

News/Legal

IT staff get go-ahead for class action overtime suit against Wells Fargo

A group of Wells Fargo technical staff have been granted a court motion for certification of a nationwide class action case against the bank relating to overtime pay.

28 October 2009

News/Legal

Canada passes ID theft laws

The Canadian Bankers Association has welcomed the introduction of "tough" new laws designed to combat identity theft.

27 October 2009

News/Legal

Pizza boy uses ATM manual to steal A$30,000 in under an hour

An Australian pizza boy who hacked into ATMs and changed their settings before stealing around A$30,000 in under an hour has escaped a prison term, according to local press reports.

23 October 2009

News/Legal

IBM exec among six charged over tech insider trading scheme

A top IBM executive is among six people charged by US authorities over an alleged $20 million hedge fund insider trading scam involving some of the world's biggest technology companies.

19 October 2009

News/Legal

$479,000 heist from small business bank account lends weight to calls for online banking 'lock-down'

Criminals have stolen more than $479,000 from a Pennsylvania housing development authority after infecting its computer system with the notorious Clampi Trojan. The crime is the latest in a rash of heists from small business banking users in the US that has led some industry bodies to suggest radical lock-down procedures for companies banking online.

16 October 2009

News/Legal

Deutsche bank board members cleared over spying but probe continues

German prosecutors have launched a formal criminal investigation into corporate spying carried out by detectives working for Deutsche Bank but the probe will not target members of the bank's management or supervisory boards.

09 October 2009

News/Legal

Phishing bust sees 100 charged in US and Egypt

Authorities in the US and Egypt have charged 100 people in connection with a phishing scam that saw around $1.5 million stolen from the bank accounts of hundreds of victims.

08 October 2009

News/Legal

Teza programmer developed code while still UBS employee

A Teza Technologies programmer developed code relating to data storage while still a UBS employee, but the high-frequency trading start-up did not use it, CIO William Sterling has told a Chicago judge.

06 October 2009

News/Legal

Sophisticated cybercrooks cracking bank security efforts

Cybercrooks have stolen more than EUR300,000 in just three weeks from German bank accounts using a sophisticated new Trojan that forges online statements to hide the theft from victims, according to a report from security outfit Finjan.

30 September 2009

News/Legal

Judge forces Google to shut down Gmail account after bank error

A US court has ordered Google to temporarily shut down a Gmail account that a bank mistakenly sent sensitive customer data to.

29 September 2009

News/Legal

MoneyGram ordered to pay Western Union $16.5m in patent case

A federal jury in Texas has ordered MoneyGram to pay rival outfit Western Union $16.53 million in damages for patent infringement.

25 September 2009

News/Legal

Bank sues Google after sending confidential data to wrong Gmail address

A US bank has taken Google to court in a bid to force the search giant to hand over information relating to a Gmail account that the financial institution wrongly sent sensitive customer data to.

22 September 2009

News/Legal

Men charged over $80m ATM Ponzi scheme

US authorities have charged two men with running an $80 million Ponzi scheme involving fake investments in automatic teller machines.

21 September 2009

News/Legal

Guilty plea in Wal-Mart phishing case

A member of a phishing gang that stole financial information from thousands of people and used it to open credit accounts at Wal-Mart stores has pleaded guilty.

11 September 2009

News/Legal

Court allows suit against bank for poor online security

A US couple who had thousands of dollars stolen from their online account have been given the go-ahead by a court to sue their bank for failing to provide adequate security.

08 September 2009