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Legal

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Company update/Legal

Nafcu applauds award of class action status in Target lawsuit

National Association of Federal Credit Unions (NAFCU) Senior Vice President of Government Affairs and General Counsel Carrie Hunt issued the following statement in response to the certification of financial institutions’ lawsuit as a class against Target Corp. based on the retailer's huge data breach in 2013.

16 September 2015

SEC reaches $30m settlement over press release hacking case

SEC reaches $30m settlement over press release hacking case

A Ukrainian investment banking firm and its CEO have agreed to pay $30 million to settle SEC charges that they profited from trading on information hacked from newswire services.

16 September 2015

Aussie court slaps $18 million fine on Visa for anti-competitive practices

Aussie court slaps $18 million fine on Visa for anti-competitive practices

The Australian Federal Court has ordered Visa to pay $18 million in fines for freezing out rival currency conversion services on terminals that use its cards.

04 September 2015

Company update/Legal

RBC granted US mobile payment security-related patent

RBC today announced that it has been awarded a patent on its innovative Secure Cloud payment and security technology by the United States Patent Office. The patent covers use of secure tokens by our clients to facilitate payments from mobile devices.

01 September 2015

Federal agent pleads guilty to looting Silk Road cash

Federal agent pleads guilty to looting Silk Road cash

A former US Secret Service agent has pleaded guilty to stealing $820,000 worth of bitcoin during the investigation into the Silk Road dark bazaar.

01 September 2015

Dark pool lawsuit against Barclays dismissed by US judge

Dark pool lawsuit against Barclays dismissed by US judge

A US district court judge has thrown out a lawsuit brought against Barclays and a number of US exchanges that accused the bank of rigging its dark pool in favour of high frequency traders (HFTs).

27 August 2015

'Flash crash' trader granted bail

'Flash crash' trader granted bail

The British futures trader accused by US authorities of contributing to the 2010 "flash crash" has been freed on bail by a London court.

14 August 2015

US charges nine over insider trading hacking scheme

US charges nine over insider trading hacking scheme

US authorities have charged nine people with hacking into business newswires to steal yet-to-be published press releases containing financial information that was used to make trades netting around $30 million in illegal profits.

11 August 2015

Tech firm Ubiquiti hit by $46.7m cyber-fraud

Tech firm Ubiquiti hit by $46.7m cyber-fraud

American technology firm Ubiquiti Networks has revealed that it fell victim to a social engineering trick that saw crooks make off with $46.7 million.

10 August 2015

Appeals court revives Visa, MasterCard ATM fee lawsuits

Appeals court revives Visa, MasterCard ATM fee lawsuits

In a bad day in court for the card firms, a federal appeals court has revived ATM access fee litigation against Visa and MasterCard, while in a separate case a judge has rejected American Express's interchange fee class action settlement.

04 August 2015

Karpeles arrested; former Mt Gox employee spills beans on shady business dealings

Karpeles arrested; former Mt Gox employee spills beans on shady business dealings

Tokyo Metropolitan Police have arrested Mark Karpeles, the former head of defunct bitcoin exchange Mt. Gox over accusations that he siphoned off $1 million in customer funds to his own bank account.

03 August 2015

Company update/Legal

Euronext claims victory in TOM court case

Euronext welcomes the verdict by the District Court in the Hague, the Netherlands, in the proceedings on the merits against TOM and BinckBank, which upheld Euronext’s claim that TOM had breached its various intellectual property rights by trademark infringement, database infringement, breach of contract and publishing misleading information and activities for investors.

22 July 2015

Fraud arrests linked to JPMorgan hack

Fraud arrests linked to JPMorgan hack

Authorities in the US and Israel have arrested four people in connection with fraud schemes linked to last year's huge cyberattack on JPMorgan Chase.

22 July 2015

EU court advisor says bitcoin should be exempt from VAT

EU court advisor says bitcoin should be exempt from VAT

Cryptocurrencies such as bitcoin should be exempt from value-added tax (VAT), according to a European Court of Justice lawyer.

17 July 2015

Cash remains king for money laundering

Cash remains king for money laundering

Cash may be losing its lustre for the general public but it is still king for crooks looking to launder their ill-gotten gains, according to Europol.

08 July 2015

Company update/Legal

BioCatch granted US patents

BioCatch, the global leader in Behavioral Biometrics, Authentication and Malware Detection, announced today that the US Patent Office granted the company two new patents that extend the Company’s ability to authenticate PC and mobile device-users through the application of behavioral biometrics.

07 July 2015

Goldman Sachs programmer has HFT code theft conviction overturned

Goldman Sachs programmer has HFT code theft conviction overturned

Former Goldman Sachs programmer Sergey Aleynikov has had a conviction for stealing the bank's propriety HFT code thrown out for the second time.

07 July 2015

$14m ATM heist gang member jailed

$14m ATM heist gang member jailed

A cybergang member has been sentenced to 50 months in prison for his part in a global ATM heist that saw $14 million dollars stolen in a single weekend.

06 July 2015

$55m ATM heist suspect extradited to US

$55m ATM heist suspect extradited to US

A Turkish man accused of masterminding a series of ATM cyberheists that netted his gang $55 million, has been extradited to the US.

26 June 2015

European cops take down cyber-fraud ring

European cops take down cyber-fraud ring

Police across Europe have arrested 49 suspected members of a cyber-gang accused of stealing EUR6 million through man-in-the-middle fraud.

11 June 2015