OLYMPIA, Wash. - (12/20/05) -- Rather than play defense, officialsat Washington State Employees CU decided to take the offensiveagainst a series of phishing attacks. After the credit union wasalerted to a phishing email that linked members to a phony website, the credit union began inundating the fake web site with baddebit card numbers, hoping that the criminals would be confused andunable to distinguish between the fake numbers and any real onesmembers may have been fooled into sending them. They also contactedthe Internet service provider in Lithuania that was hosting thefake web site. It took about a day and half to shut down the phonyweb site.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12