Latest Legal News: Finextra Research

Investment banker and husband sentenced for stealing £61,000 from ATM

An investment banker and her husband have been handed suspended jail sentences after admitting stealing £61,400 from a faulty HSBC cash machine in Essex.

22 April 2009

News/Legal

BoA, MasterCard, Visa sued over e-commerce payments patents

Actus, a recently formed US holding company, is suing 20 companies, including Bank of America, MasterCard, Obopay and Visa, accusing them of infringing four patents related to an electronic payments system for e-commerce.

17 April 2009

News/Legal

Goldman in legal battle with hell-raising blogger

A US man who writes a critical blog about Goldman Sachs has filed a lawsuit against the investment bank after it threatened legal action over his use of the goldmansachs666.com domain name.

15 April 2009

News/Legal

London card cloning gang accused of stealing £3.5m

A gang of five fraudsters who ran a global credit card cloning ring out of a London flat stole £3.5 million in just a few days, a court heard yesterday.

07 April 2009

News/Legal

Canadian government re-introduces ID theft legislation

The Canadian government has re-introduced what it calls "tough" legislation designed to combat identity theft, which is estimated to cost the country over $2 billion a year.

01 April 2009

News/Legal

Israeli hacker suspected of $10m theft

Ehud Tenenbaum, a notorious Israeli hacker arrested in Canada last year in relation to the theft of around $1.5 million, is now suspected of breaking into the systems of four US institutions as part of a global "cashout" conspiracy that resulted in the loss of at least $10 million.

26 March 2009

News/Legal

Heartland threatens rivals over PCI compliance claims

Heartland Payment Systems is threatening legal action against competitors it says are misleading merchant customers with claims they will be penalised for doing business with the processor after it was struck off Visa's list of Payment Card Industry Data Security Standard (PCI DSS) compliant service providers.

25 March 2009

News/Legal

Australian ATM skimming gang nets $500,000

Australian police are hunting thieves suspected of stealing over $500,000 from ANZ customer bank accounts using details obtained from a skimming device attached to a cash machine in Melbourne.

24 March 2009

News/Legal

Cryptomathic sues BBS for patent infringement

Security vendor Cryptomathic has filed a lawsuit in Oslo against Norway's BBS alleging patent infringement relating to the use of digital mobile signatures for Internet banking applications.

11 March 2009

News/Legal

Payzone sued by Welcome Break in ATM row

Ireland's Payzone has confirmed it is being sued by UK motorway service station operator Welcome Break in a dispute over ATM maintenance targets and charges made to customers for cash machine withdrawals.

11 March 2009

News/Legal

Korea's Woori to deploy Norkom AML software

Korea's Woori Bank has chosen anti-money laundering technology from Dublin-based Norkom to help it comply with recently introduced AML regulations.

11 March 2009

News/Legal

MarketAxess scoops bid/offer list trading patent

Electronic fixed income network MarketAxess has been granted a US patent for its bid/offer list automated trading functionality.

10 March 2009

News/Legal

German police shut hacking forum

German police have shut down an Internet forum used by cybercriminals to share malicious software and password stealing programs.

06 March 2009

News/Legal

Cashless ATM scam gang indicted

A US federal grand jury has returned an indictment against four men accused of tricking hundreds of victims into investing around $8 million in a bogus 'cashless ATM' business.

05 March 2009

News/Legal

Two found guilty in £229 million Sumitomo spyware fraud case

A Soho sex shop owner and self-proclaimed knight of the realm have been found guilty for their role in a conspiracy to steal £229 million from Sumitomo Mitsui Bank in a hi-tech software scam.

04 March 2009

News/Legal

Canadian inter-dealer broker accuses rival of computer hacking

Freedom International Brokerage has filed a multimillion-dollar lawsuit against Tullett Prebon Canada, accusing its rival of hacking into its computer system thousands of times to steal proprietary information, according to local press reports.

03 March 2009

News/Legal

Visa sued over alleged SMS alert patent infringement

Visa has been hit with a lawsuit for allegedly infringing a patent covering the notification and authorisation of transactions via text messages sent to cardholders' mobile phones.

27 February 2009

News/Legal

UK judges to get online fraud sentencing guidance

The UK's judges should be given a thorough grounding on the computer techniques used to steal bank account and card details, according to new recommendations from the Sentencing Guidelines Council (SGC).

27 February 2009

News/Legal

Bulgarian hacker sentenced to four-and-a-half years

A Bulgarian man known colloquially as The Hacker, has been given a four-and-a-half year jail sentence for masterminding a criminal gang that milked millions of dollars from US credit card accounts.

25 February 2009

News/Legal

Chase patents card fraud analysis system

Chase Card Services has received a patent for First Watch Intelligence, an analytical application for detecting credit card fraud and ID theft.

24 February 2009