SAN DIEGO - (11/18/05) -- An important figure in aninternational credit card fraud was sentenced to seven years injail this week for his role in a scheme that targeted area creditunions and banks. James Hopper pleaded guilty to eight felonycounts just three weeks after he was arrested at a routine trafficstop and police discovered hundreds of blank credit cards in hiscar. The San Diego Police Computer and Technology Hi-TechCrimes--or CATCH--Unit, said Hopper is a key figure in aninternational ring that collects the personal financial informationof Americans and provides it to U.S. accomplices for themanufacture of counterfeit credit cards. The CATCH unit also foundthat Hopper had obtained the algorithm code for more than 200credit unions and banks to write second tract encryption into phonycredit and ATM cards. Police found blank credit cards, an embossingmachine, victim profiles and hundreds of fake drivers licenses whenthey raided Hopper's home, according to Gail Stewart, spokesman forthe San Diego Police. Hopper pleaded guilty as part of a pleabargain Wednesday to eight counts, including unlawful access tocredit activities, identity theft and possession of fraudulentdrivers licenses and was sentenced to seven years in prison, shetold The Credit Union Journal.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
March 28 -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
March 28 -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28