WHITTIER, Calif. - (04/26/06) Local police are searching fora young hacker who until recently lived with his parents, but sincethen has moved from hotel to hotel as he has led a ring of creditcard thieves. Three suspects were arrested last week but theringleader remains at large while police try to tally the losses tomore than a dozen credit unions and banks around the country. Thering has apparently hacked into the websites of theinstitutionsincluding LA FCU, Orange County's FCU, Vista FCUand California Coast CUand gained confidential memberinformation that they have used to make counterfeit credit cards byduplicating the magnetic stripes with the members' data, accordingto Det. Ed Nyberg of the Whittier Police Department. The cards havebeen used to buy thousands of dollars of high-priced electronicequipment and make cash withdrawals on the credit unionmembers accounts, he said. Ive got creditunions all over the country involved, Nyberg told The CreditUnion Journal. Other victims are customers of MBNA and CommerceBank of Kansas City, he said. Whittier Police arrested threefigures in the ring, but the alleged ringleader, identified as22-year-old Robert Foote, remains at large. Foote, who usuallylives with his parents in this suburb of Los Angeles, has recentlybeen moving from hotel to hotel to elude police, according toNyberg.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
3h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
4h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
6h ago -
As banks consider their strategies, other big names are also considering a role for digital assets.
7h ago -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
8h ago -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
9h ago