Latest Legal News: Finextra Research

Bank IT worker finds naked photo of senior manager on work laptop

Bank IT staffer Claudio Pallone found a sexually explicit photograph on a work laptop of a naked senior manager posing in front of a mirror, an employment tribunal has heard.

13 November 2013

News/Legal

UK malware fraudsters convicted

Members of a UK fraud gang that used self-written malware to gather financial data and steal hundreds of thousands of pounds, have been convicted.

12 November 2013

News/Legal

Liberty Reserve co-founder pleads guilty to money laundering

The co-founder of Liberty Reserve, a digital currency outfit described by authorities as the criminal underworld's "bank of choice", has pleaded guilty to money laundering charges.

01 November 2013

News/Legal

Dutch phishers use bitcoin to launder EUR1 million haul

Dutch police have arrested four men accused of using malware to steal in the region of EUR1 million from online bank accounts and then laundering the money using bitcoin.

30 October 2013

News/Legal

Diebold pays $48m to settle bank bribery charges

US ATM manufacturer Diebold has agreed to pay $48 million to settle criminal and civil charges that it handed over millions of dollars in bribes to bank officials in China, Indonesia and Russia.

23 October 2013

News/Legal

Bitcoin value bounces back after Silk Road shock

Virtual currency bitcoin has seen its value bounce back after an initial heavy fall in the wake of the FBI's take-down of the Silk Road online marketplace.

03 October 2013

News/Legal

MT. Gox demands return of $5.3m in CoinLab counter-suit

Bitcoin exchange MT. Gox has filed a counter-suit against its one-time partner CoinLab, demanding the return of around $5.3 million in customer funds.

17 September 2013

News/Legal

Three charged over trading code theft

New York prosecutors have charged two men with stealing trading code and data from their former employer, Flow Traders, and e-mailing it to themselves.

27 August 2013

News/Legal

US govt seized $2.9m from MT. Gox's Dwolla account

The Dwolla account holding funds belonging to bitcoin exchange MT. Gox that was seized by the US government earlier this year held more than $2.9 million, newly filed court documents show.

20 August 2013

News/Legal

Western Express card crime ring members jailed

Several members of a cybercrime ring which trafficked more than 95,000 stolen credit card numbers, causing millions of dollars in losses, have been jailed following a trial in New York.

09 August 2013

News/Legal

Man who rewrote credit card terms sues bank for breaching contract

Always read the small print. A Russian man who managed to rewrite the terms of his credit card agreement, without the provider noticing, is now suing for hundreds of thousands of dollars for breach of contract.

09 August 2013

News/Legal

US judge rules bitcoin is real money

A US federal judge has ruled that bitcoin is a "form of money", paving the way for a legal case against a man accused of running a giant ponzi scheme using the virtual currency.

08 August 2013

News/Legal

Judge backs retailers over Fed's debit card fee cap

A US judge has ruled that the Federal Reserve disregarded the intent of Congress by setting a cap on interchange fees for debit card transactions too high.

01 August 2013

News/Legal

UK retailers open new front in interchange fee row

The UK looks set to be the next battleground in the ongoing legal skirmishes between retailers and card schemes, as a host of merchants file suit in London against Visa over interchange fees.

29 July 2013

News/Legal

Mizuho fails in legal bid to claw back over 40 billion yen in fat finger trading losses

The Tokyo High Court has upheld a lower court ruling ordering the Tokyo Stock Exchange to pay 10.7 billion yen to Mizuho Securities over a botched trade in 2005 that cost the Japanese broker 40 billion yen in trading losses.

25 July 2013

News/Legal

Citi blames tech for failure to redact personal data from 150k bankruptcy filings

A software glitch saw US bank Citi fail to redact the personal information of nearly 150,000 people in bankruptcy filings, according to court documents unsealed this week.

18 July 2013

News/Legal

Judge backs Safaricom in M-Shwari legal case

A Kenyan micro-finance provider has failed in its legal bid to have Safaricom's M-Shwari mobile banking service shut down pending the outcome a court case, according to local press reports.

16 July 2013

News/Legal

Visa and MasterCard face another interchange suit

A collection of around 30 retailers, including Amazon and 7-Eleven, have filed a lawsuit against Visa and MasterCard in the latest twist of the ongoing battle between card schemes and US merchants over interchange fees.

28 June 2013

News/Legal

Phishing gang members jailed

A London court has jailed three men for a massive phishing scam which netted the personal details of around 30,000 bank customers from around the world.

19 June 2013

News/Legal

Visa sues Wal-Mart as interchange fight escalates

The ongoing battle between card schemes and US merchants over interchange fees has escalated, with news that Visa is to sue the nation's largest retailer Wal-Mart over its rejection of a previously negotiated $7.2 billion class action interchange settlement.

14 June 2013