Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

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

News/Legal

Visa shuts down WikiLeaks payments workaround

Visa has succeeded in shutting down a workaround that briefly enabled the re-instatement of credit card payments to whistle-blowing Website WikiLeaks.

08 July 2011

News/Legal

WikiLeaks to sue Visa and MasterCard

WikiLeaks has announced plans to sue Visa and MasterCard over their refusal to process donations to the whistle-blowing service.

04 July 2011

News/Legal

Charges laid over Aussie banknote printing bribery

Aussie police have charged Securency International, Note Printing Australia (NPA) and six individuals with bribing public officials in foreign countries to help win contracts.

01 July 2011

News/Legal

ACH liability up for grabs as court finds against bank in second US cyber-heist suit

A Michigan court has found in favour of Experi-Metal in its $560,000 cyber-heist suit against Comerica Bank, contradicting a ruling last week in a separate small business ACH fraud case which came down on the side of the bank.

17 June 2011

News/Legal

Lederman loses LSE employment case

The London Stock Exchange has won a claim for damages brought against it by former Turquoise boss Eli Lederman.

15 June 2011

News/Legal

Spain arrests Anonymous suspects linked to bank attacks

Spanish police have arrested three suspected members of online collective Anonymous, accusing them of involvement in cyber-attacks on Sony, BBVA and Bankia, among others.

10 June 2011