Latest Legal News: Finextra Research

SocGen trader charged with stealing HFT code

A former Societe Generale trader has been arrested by US authorities and charged with stealing propriety computer code used in the bank's high-frequency trading (HFT) system.

20 April 2010

News/Legal

Feds accuse Belarusian of running Web site for ID thieves

US prosecutors have charged a Belarusian man with running a Web site designed to help identity thieves exploit financial information such as card numbers.

20 April 2010

News/Legal

CME sues Canadian FX broker over trademark infringement

The CME is suing a Canadian foreign exchange broker, accusing it of trademark infringement and cybersquatting relating to the Globex name, according to Crain's Chicago Business.

16 April 2010

News/Legal

HSBC data theft victim numbers rise as French authorities step up investigation

Around 79,000 customers are now believed to have been affected by the theft of data from HSBC's Swiss private banking arm by an IT employee, according to a French prosecutor who has launched a tax evasion investigation based on the information.

15 April 2010

News/Legal

US finance firm DA Davidson fined over data breach

A financial consultancy firm has been fined $375,000 by US authorities for a series of failures that enabled a criminal gang to hack into its database and steal the confidential information of nearly 200,000 customers.

13 April 2010

News/Legal

Charles Schwab account hacker jailed

A man has been sentenced to 37 months in jail by a New York court for hacking into the online brokerage accounts of Charles Schwab customers and stealing around $246,000.

12 April 2010

News/Legal

Standard Bank faces patent claim over mobile money venture

South Africa's Standard Bank and telco MTN are being sued for up to $136 million by the head of a technology firm over claims the pair's mobile money joint venture infringed a patent.

09 April 2010

News/Legal

BofA IT worker charged with ATM hack

A Bank of America IT worker has been charged with hacking the firm's cash machine systems, enabling him to make withdrawals at ATMs without the transactions getting logged, according to IDG.

09 April 2010

News/Legal

Jury tells US Bank to pay $27m over cheque imaging patent infringements

US Bank has been ordered by a jury to pay Texas-based DataTreasury $27 million over cheque processing technology patent infringements.

30 March 2010

News/Legal

How to get money back from a bank: sue them - Ross Anderson

Customers that see dodgy transactions on their cards and want to get their money back from the bank should skip the usual complaints procedure and sue, according to renowned Cambridge payments security expert Ross Anderson.

30 March 2010

News/Legal

TJX hacker Gonzalez gets 20 year jail term

Computer hacker Albert Gonzalez has been sentenced to 20 years in prison for masterminding a string of cyber-attacks on retailers, including TJX, which resulted in the theft of tens of millions of payment card details.

26 March 2010

News/Legal

Russia arrests RBS WorldPay ATM heist suspect

Russian authorities have arrested the alleged mastermind behind the 2008 cyber-attack on RBS WorldPay's computer network, which lead to the theft of over $9 million, according to the Financial Times.

23 March 2010

News/Legal

ATM gang jailed for a total of 14 years

A gang of three London men have been jailed for a total of 14 years following a foiled attempt to steal an ATM machine containing a substantial sum of cash.

19 March 2010

News/Legal

Madoff programmers indicted

Two computer programmers charged with aiding and abetting Bernard Madoff's massive ponzi scheme have been indicted by a US Grand Jury.

19 March 2010

News/Legal

BGC rapped by judge for destroying evidence in Tullett staff poaching case

Interdealer broker Tullett Prebon has claimed victory in a bitterly-fought legal dispute with rival broker BGC that involved missing Blackberries and wiped computer records.

18 March 2010

News/Legal

Barclays programmer jailed over TJX hack

A former Barclays Bank programmer has been sentenced to four years in jail for helping the infamous TJX hacker Albert Gonzalez launder his ill-gotten gains.

15 March 2010

News/Legal

Lindsay Lohan sues E*Trade for $100m over 'milkaholic' TV ad

Actress Lindsay Lohan is suing E*Trade for $100 million, claiming a "milkaholic" baby in a recent TV commercial from the online broker is based on her.

10 March 2010

News/Legal

Madoff's director of operations arrested

Daniel Bonventre, the director of operations at Bernard Madoff's company has been arrested on charges of falsifying accounts to hide his boss's multi-billion dollar fraud.

26 February 2010

News/Legal

MShift files m-banking patent infringement suit against Digital Insight

US m-banking supplier MShift has launched a patent infringement suit against Intuit subsidiary Digital Insight Corporation and users of its mobile banking technology platform. Community Trust Financial Corporation and Community Trust Bank are named as co-defendants.

23 February 2010

News/Legal

Canadian crooks compromise card terminals

The debit cards of hundreds of people in the Canadian city of Windsor have been compromised after crooks tampered with payment terminals in fast food joints, installing Bluetooth technology into the PIN Pads and wirelessly downloading account information.

18 February 2010