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News/Legal
The UK Information Commissioner's Office (ICO) is investigating claims that financial data - including private account numbers, PINs and security codes - of tens of thousands of UK customers is available for sale on the Internet.
03 December 2007
US retailer TJX will pay $40.9 million in a settlement with Visa relating to potential claims stemming from the massive computer security breach at its operations that was disclosed earlier this year.
30 November 2007
A former database administrator at Fidelity National Information Services has pleaded guilty to stealing 8.4 million customer records from its Certegy unit and selling it on to data brokers.
Police in New Zealand are questioning a teenager who is accused of being the ringleader of a cyber crime network that pilfered over £12 million from bank accounts after infiltrating more than a million computers.
Bank lobby groups have given a guarded welcome to European Commission proposals for a Directive aimed at simplifying the current VAT regime for financial and insurance services.
29 November 2007
Allied Irish Bank (AIB) says a computer error caused 15,000 payment advice slips - some featuring personal details including names, addresses and bank account and sort code numbers - to be sent to the wrong addresses.
23 November 2007
Netherlands-based NetEconomy has signed Banque AGF France, a retail banking subsidiary of Allianz Group, to its anti-money laundering package, Compliance Manager.
Interdealer broker Icap has disclosed plans to establish an exchange-based business in Europe and says it has applied to the UK's Financial Services Authority (FSA) for the status of a regulated market under the EU's new Markets in Financial Instruments Directive (MiFID).
20 November 2007
Target2, the EU-wide real-time gross settlement (RTGS) system for large value payments, has been successfully launched, says the European Central Bank (ECB).
German software firm SAP says senior managers at its TomorrowNow subsidiary, which is embroiled in a corporate spying scandal involving arch rival Oracle, have resigned and it is now considering selling the Texas-based unit.
National Australia Bank (NAB) has been hit with a A$20 million damages claim from its former chief information officer Ian Crouch who has accused the bank of "misleading or deceptive conduct" in terminating his employment contract in 2004.
16 November 2007
An internal "spat" at the European Commission (EC) is causing further delays to a ruling on interchange fees charged by card operator MasterCard and raising fears that the on-going uncertainty could hinder the launch of the single euro payments area (Sepa) in January.
Card payment network Visa has disclosed that it plans to raise up to $10 billion through its forthcoming stock market flotation, which is expected to take place early next year.
12 November 2007
A Citi analyst has downgraded E*Trade to 'sell' and warned of a potential bankruptcy risk after the online broker reported news of further mortgage-related losses, the withdrawal of earnings guidance and an SEC investigation into its capital markets business.
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