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Articles tagged with: bank

Regulators Request Banks To Improve Network Security

US financial regulators have asked that all banks do their best to boost network security after companies have gone through a flurry of cyber attacks. The Federal Financial Institutions Council recommended that banks perform regular risk assessments as well as keeping customers informed about any online banking security issues.

The Council urged that all banks demand more than one form of customer authentication since hacking often occurs via keyloggers, where passwords are stolen on personal computers.

Your Money Is No Longer Safe At The Bank

According to newser, hackers managed to steal over $300,000 from a client’s Ocean Bank account, but according to a Maine judge’s ruling, the bank is not responsible. The judge understood that the bank didn’t follow the best security practices, but rules that the customer should have done more to protect the account. What?! Did a judge just blame the customer for choosing to trust a bank with his money?

The hackers got access to Patco Construction (the victims) Company’s banking credentials by sending a malicious e-mail to employees and then installing a password-stealing Trojan.

Four Men Caught In $1.5 Million Skimming Operation

According to PCWorld, three Romanian men and one Austrian man were indicted on Monday by U.S. federal prosecutors. The four men stole over 1.5 Million U.S. dollars by cloning payment cards with stolen account information. The men are charged with skimming (recording account details from the magnetic stripe of payment cards while capturing a person’s PIN by using fake overlays on the number pads.

Accounts were targeted at Citibank, and JP Morgan Chase between March 2010 and May 2011. The affected cities included New York, Miami, and Chicago. The four stole about $110,000 per month over those fourteen months, perhaps splitting it four ways at about $27,000 each, per month ($324,000 individual ‘salary’).

Make Apps Yourself With New App Developer-App Cloud

Brightcove is a company that is known for online video platform, but today it is launching a new product called the App Cloud. The App Cloud will let developers create apps in one of the easiest ways possible. From what the app looks like it will do the same thing for apps that Brightcloud, another one of Brightcoves products, does for video publishing.

New App Can Deposit Checks With Just A Photo

PayPal Mobile app just launched for Android Marketplace reported by the MobileCrunchearlier.
The app has been available for iPhone and BlackBerry users since last year. The app has a cool new little feature called “Mobile Check Capture”. All you have to do is snap a photo of both the front and the back of the check with your phone’s camera, and then watch as the amount on the check is automatically credited to your PayPal account.

Want A Personal ATM In Your Home For Less Than $50?

Have you ever cared to see what a “piggy bank” might look like these days? Don’t worry, there is no reference to Angry Birds here! It looks like this generation of kids will get a significant amount of ATM depositing and withdrawing experience with this new “Personal ATM.” The Personal ATM (as the name hints), works very similar to a bank’s ATM.

There is one feature, however, that proves to be a bit more useful than a real ATM. Users will be able to set a target date or a target amount of money, so you won’t be too tempted to splurge your savings. Of course, whatever money you have in that machine will not generate interest, unfortunately.

Massive Botnet Taken Down After Ten Years Of Mayhem

After ten years, the U.S. has finally killed a botnet that has spread a continually evolving virus known as “Coreflood.” The botnet first became active in 2001 and has steadily infected computers finally reaching a number of 2 million computers worldwide, with the assistance of malware. Coreflood has stolen a total near 100 million dollars worldwide from both businesses and consumers. The botnet of course is a group of infected machines that “work together” to steal personal data from other users. The botnets can also be programmed to send malicious files, spam, and phishing e-mails to targeted computers. The creators of the botnet used Coreflood to steal information and conduct thousands of fraudulent banking and wire transfers. Some individuals lost as much as $240,000 in the scam.

UK Tech Sector Gets $60 Million Push

U.K. investment firm Passion Capital just raised a fund of $60 million, $40 million of which was contributed by the U.K. government. They plan to make around 50 investments with the fund, each around $200,000, mostly to companies with little more than a pitch or a prototype. They recently released their invest strategy on their lovely website.

Partners Stefan Glaenzer, Eileen Burbidge and Robert Dighero, are former European angle investors before they got together to launch…

Google Will Roll Out NFC For Android Phones

According to the WallStreet Journal, Google is teaming up with MasterCard and Citigroup to bring Near-Field Communications technology to Android mobile devices. This would allow consumers to pay for things by swiping their phone against a small reader at a checkout stand. The goal in using NFC technology is to speed up transaction times and make it easier for consumers to pay for things without whipping out their wallet or their purse to look for their credit cards. Google will not be getting any…