The accounts of 76 million households and 7 million businesses were compromised after a cyber attack on JP Morgan Chase that happened this summer. This intrusion is one of the largest of its kind, although previous estimates hadn’t correctly assessed its impact. The details of the breach were disclosed on Thursday in a securities filing and came to light in a time when consumer trust in digital … [Read more...]
French Bank PNB Paribas Pleads Guilty and Agrees to Pay Sanction
France's largest bank, PNB Paribas has a bad reputation and a history of doing business with countries that are on the U.S. blacklist. The biggest problem related to French bank PNB Paribas was that it played the role of being Sudan's central bank. It processed financial transactions, money laundry schemes and other illegal trading operations with country that were in violation of the United … [Read more...]