WASHINGTON - (03/10/06) -- Federal law enforcement agencies areclosing in on a number of Russian gangs they say are responsiblefor a variety of Internet hacking that is draining funds from U.S.bank and credit union accounts. In numerous Internet chat roomsRussian hackers are offering stolen credit card numbers and PINsfor use with counterfeit cards that have been used to loot creditunion and bank accounts in recent months. And last month, Russianthieves used so-called sleeper bugs to take control of and emptymore than one million euros from personal bank accounts in France.Police say the virus is embedded in emails or websites and remainsdormant until the user contacts their credit union or bank online.When that happens, the bug becomes active and records passwords andbank codes which are then forwarded to the thieves. They then usethe information to check if the victim has money in the accountbefore transferring funds to the accounts of third parties, knownas mules. More than a dozen Russian and several Ukrainian thieveshave been arrested in the scam in Moscow and St.Petersburg.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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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.
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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.
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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.
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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.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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