Latest Legal News: Finextra Research

New York Fed contractor charged with stealing Treasury code

US authorities have charged a computer programmer with stealing proprietary software code from the Federal Reserve Bank of New York, where he was working as a contractor.

19 January 2012

News/Legal

PCI security standards in the dock

A legal challenge to the payment card industry's PCI security standards is brewing in the US, as a Utah-based restaurant chain cries foul over the apparently "arbitrary" nature of the system and the level of fines imposed by Visa and MasterCard following an alleged breach of security.

12 January 2012

News/Legal

Man arrested over $1.5m New York ATM skimming scam

A Romanian man has been arrested in New York, accused of being part of a gang that installed skimming devices on more than 40 HSBC ATMs before stealing at least $1.5 million from customer accounts.

09 January 2012

News/Legal

Fiserv units file patent suit against FIS

Fiserv payment subsidiaries CheckFree and CashEdge have filed a patent infringement lawsuit against rival FIS and its Metavante unit.

06 January 2012

News/Legal

US Bank settles cheque imaging patent case

US Bank has settled a patent infringement lawsuit relating to cheque processing technology with DataTreasury.

03 January 2012

News/Legal

Court dismisses Heartland data breach claims

A US judge has dismissed most claims brought by a group of banks against Heartland Payment Systems over a massive data breach that exposed millions of credit card details in 2007.

14 December 2011

News/Legal

Serverside scents victory in US card patent cases

UK card design outfit Serverside has won the second dismissal in a patent infringement suit brought against 15 US credit unions and technology suppliers.

07 December 2011

News/Legal

AIB settles with Oracle over bungled Flexcube implementation

AIB has reached an out-of-court settlement with Oracle over a bungled core banking implementation that the Irish bank claimed had cost it EUR84 million in "wasted expenditure".

25 November 2011

News/Legal

Another US firm sues bank after cyber-attack

A US title insurance firm that lost more than $200,000 after cybercrooks using the Zeus Trojan accessed its online account, is suing its bank, accusing it of lax security.

15 November 2011

News/Legal

Trojan gang leaders jailed

The ring leaders of a criminal gang that used a Trojan to steal nearly £3 million from bank accounts have been jailed.

01 November 2011

News/Legal

Wedbush Securities sues Liquidnet over trade secrets

Wedbush Securities is suing two former employees and dark pool operator Liquidnet for allegedly stealing trade secrets related to a new private shares trading business.

21 October 2011

News/Legal

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