Receiving Wide Coverage ...
Digital wrongdoings: Hackers have begun targeting investors in virtual currencies. According to a New York Times report, the hackers obtain the victim’s phone number, reset their passwords, then steal the money in their accounts, which are often unprotected. “Most victims of these attacks in the virtual currency community have not wanted to acknowledge it publicly for fear of provoking their adversaries,” the paper says. “But in interviews, dozens of prominent people in the industry acknowledged that they had been victimized in recent months.”
Virtual currencies are susceptible because “accounts with banks and brokerage firms and the like are not as vulnerable to these attacks because these institutions can usually reverse unintended or
Brian E. Finch, co-chairman of the cybersecurity practice at Pillsbury Winthrop Shaw Pittman, says governments and businesses should be more concerned about small cyberattacks than large-scale attacks. “While the possibility of large-scale cyberattacks gets the lion’s share of attention,
Often used by terrorists, “the potential of encrypted messaging to facilitate financial crime is coming into focus,” the Financial Times reports. “
Wall Street Journal
Walking the walk: JPMorgan Chase said it will
New York Times
Fuzzy lines: The Justice Department and the Securities and Exchange Commission may have trouble proving insider trading charges against the people that received tips from Daniel Rivas, the former IT employee at Bank of America who pleaded guilty last week, writes Peter J. Henning, a law professor at Wayne State University Law School. “Not everyone who gets a tip about an impending deal violates the law,” Henning writes in the White Collar Watch column. “There is a
Elsewhere
Now it’s closing accounts: The Consumer Financial Protection Bureau is looking into yet another scandal at Wells Fargo: the bank's alleged closing or freezing customer accounts, leaving people without access to their funds. Reuters says it found “several instances of customers reporting financial hardship in recent years after Wells Fargo
Quotable
“Wish the moon wasn’t the only thing