NEWS MAKERS

ONLINE OUTAGE LIGHTENS CIO'S WALLET

When Commonwealth Bank of Australia suffered an outage that affected the bank's online service earlier this year, the pay of CIO Michael Harte and several other IT execs were adversely affected as a result. According to local press, the CIO was paid about A$2.8 million ($2.4 million USD) for the year, but the amount of the outage haircut was not disclosed. The salary penalty is part of CBA's new focus on customer satisfaction, which is a key performance indicator for 40 percent of "at risk pay" for the enterprise services team.

 

WAL-MART SCAMMER PLEADS GUILTY

Tien "Tim" Truong recently pleaded guilty to phishing off a number of piers, including setting up fake Web sites disguised as banking sites, then sending out fake emails directing victims to those sites, where they relinquished PII. The scam netted thousands of credit card numbers, which were used to obtain instant credit issued by GE Capital at kiosks in Wal-Marts in North California. He'll be sentenced in November.

 

PHONY RBS WORKER DUPES MED SCHOOL

A crook disguised as an RBS worker "selling" a high tech smart card managed to con the Royal College of Surgeons out of nearly $700,000 in a recent scheme that also involved the use of mules. The crook convinced a staffer at the college to turn over private information that was used to obtain a real card to transfer the school's money to accomplices, some of whom have since been arrested.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER