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Tag: banks

Federal Officials Warn That Hackers Stole More Than 500 Million Financial Records in 1 Year

By Steve Neavling
ticklethewire.com

These bank robbers don’t wear masks or slip notes to a teller.

“We’re in a day when a person can commit about 15,000 bank robberies sitting in their basement,” said Robert Anderson, executive assistant director of the FBI’s Criminal Cyber Response and Services Branch.

The FBI and Secret Service warned companies that hackers have stolen more than 500 million financial records of the past year, the USA Today reports.

“You’re going to be hacked,” Joseph Demarest, assistant director of the FBI’s cyberdivision, told business leaders at a  cybersecurity event. “Have a plan.”

Personal data for about half of U.S. adults have been exposed in some form, officials said.

“No one is going to solve this problem on their own,” said Supervisory Special Agent Thomas Grasso of the FBI. “This is something we all need to work together on.”

 

 

Justice Department’s Top Prosecutor to Leave After Successful Fights with Wall Street

By Steve Neavling
ticklethewire.com

Wall Street won’t be sad to see Tony West go.

The highest-ranking prosecutor who gained more than $30 billion in settlements from Wall Street banks plans to leave the public sector, the New York Times reports.

West, who is the No. 3 Justice Department officials, plans to leave Sept. 15.

The New York Times reports that West is headed to the private sector, but it wasn’t immediately clear what he’ll be doing.

West, 49, hired Robert B. Barnett, a career counselor with a remarkable client list that includes President Clinton and Bob Woodward, to help him land a job.

“Over the years, Tony’s efforts have made a tremendous and lasting difference in the lives of millions of people across the country,” Mr. Holder said in a statement. “And although I wish him the best as he opens an exciting new chapter in his career, I will miss his leadership, his many contributions, and his steadfast commitment to the cause of justice.”

FBI Investigates Coordinated Hacking Attacks on JPMorgan Chase, Other Financial Institutions

By Steve Neavling
ticklethewire.com

JPMorgan Chase was among at least five financial institutions recently hacked in coordinated attacks, the USA Today reports.

A federal law enforcement official told USA Today that investigators believe Russian attackers were behind the hacking. Now FBI agents are trying to determine whether the attacks were related to U.S. sanctions against the Russian government.

The banks lost sensitive data in the attacks.

Companies “of our size unfortunately experience cyberattacks nearly every day,” JPMorgan spokeswoman Trish Wexler said in a statement without confirming the reports. “We have multiple layers of defense to counteract any threats and constantly monitor fraud levels.”

FBI spokesman Paul Bresson said the bureau is “working with the United States Secret Service to determine the scope of recently reported cyber attacks against several American financial institutions.”

Utah Man Throws Molotov Cocktail at Bank, Ignites Bush

By Danny Fenster
ticklethewire.com

We’ve all been annoyed to find a hidden banking fee lurking in the shadows of our bank statements from time to time. But a Utah man took that frustration to another level, according to an Associated Press report out of West Jordan, Utah.

Joshua Raymond Townsend, 20, is facing a federal count of attempting to destroy a building used in interstate commerce after throwing Molotov cocktails at a Wells Fargo Branch. Townsend was arrested about 15 miles south of Salt Lake City.

Townsend began planning a bank bombing about two months, according to federal officials. He had ordered explosive chemicals but decided earlier this week to instead use Molotov cocktails instead. He called police immediately before throwing the first cocktail. That one failed to ignite and a second bounced off a window and set fire to a nearby bush.

To read more click here.

 

Swindler Madoff Says Banks and Hedge Funds Knew He was Up to No Good

Bernie Madoff/facebook photo

By Allan Lengel
ticklethewire.com

Swindler Bernie Madoff, the king of Ponzi scams, told the New York Times that his family new nothing about his crimes, and that banks and hedge funds were “complicit” in his fraud and knew he was up to no good.

From prison on North Carolina, Madoff said banks and hedge funds were guilty of “willful blindness” and failed to examine discrepancies between his regulatory filings and other information they had access to, the Times reported.

“They had to know,” Mr. Madoff said. “But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’ ”

Madoff told the Times he was surprised to hear about email and messages surfacing in lawsuits that raised doubts about his operation.

“I’m reading more now about how suspicious they were than I ever realized at the time,” he said with a faint smile.

To read more click here.

al Qaeda in Yemen Might be Plotting Attacks on Wall Street

By Allan Lengel
ticklethewire.com

FBI officials are warning major Wall Street banks that al Qaeda terrorists in Yemen may be plotting to attack their institutions or top executives, NBCNewYork reported.

The TV station reported that intelligence officials stressed that the threats were general in nature and there was “no indication of a targeted assassination plot” against any Wall Street executives.

At the same time, NBCNewYork.com learned that authorities fear some executives names have popped up in discussions by terrorist.

The station reported that some of the information authorities gathered came from al Qaeda writings in places like “Inspire” magazine.

To read more click here.

Obama Administration Wants to Keep Better Tabs on Internet and Bank Transfers

internet-photoBy Allan Lengel
ticklethewire.com

WASHINGTON — The Obama administration is making moves to try and get a better handle on the activities of terrorists.

Charlie Savage of the The New York Times reports that federal law enforcement and national security officials plan next year to seek new regulations from Congress that would allow agencies to get information on the Internet with a wiretap order.

The Times reports that agencies fear “their ability to wiretap criminal and terrorism suspects is ‘going dark’ as people increasingly communicate online instead of by telephone.”

The Times reports that the administration would ask Congress to change laws so that they could get info from encrypted e-mail transmitters like BlackBerry and social networks like Facebook and Skype.

Meanwhile, the Washington Post’s Ellen Nakashima reports that the Obama administration wants to require all U.S. banks to report all electronic money orders in and out of the country to keep better tabs on terrorist financing and money laundering.

Currently, banks are required to report transactions that exceed $10,000. The new regulations would require all transfers to be reported regardless of size, the Post reports.

To read full NY Times story click here.

To read full Washington Post story click here.

Hillary Clinton’s Finance Chairman Hassan Nemazee Gets 12 Years

Morning in ManhattanBy Allan Lengel
ticklethewire.com

A big time Democratic donor and finance chairman of the Hillary Clinton’s 2008 campaign, was sentenced Thursday in federal court in Manhattan to 12 years in prison, the Justice Department announced.

Hassan Nemazee, 60, was sentenced for stealing nearly $300 million from three banks in what authorities described as a Ponzi scheme.

The New York Daily News reported that U.S. District Judge Sidney Stein went below the minimum recommended sentence of 15 ½ years because Nemazee had “good attributes”.

“You’ve done a lot of good in your life,” Stein said, according to the Daily News. “You’ve been extremely charitable, even before this fraud.”

To read more click here.