article thumbnail

US and Europe will block some Russian banks from SWIFT

The Verge

The letter, signed by the United States, UK, Canada, and European allies, lays out new measures to isolate Russia’s central bank, and announces a new trans-Atlantic task force to freeze the foreign assets of sanctioned individuals. used to authenticate payment instructions between banks. billion to $52 billion.

Banking 98
article thumbnail

Simple bank shutdown goes awry leaving customers without account access

The Verge

The online bank Simple shut down on Saturday and was supposed to seamlessly transition customers’ accounts over to its parent company, BBVA. Simple opened to customers in 2012 and was supposed to offer a digital-first approach to banking. We know this, and we sincerely apologize.”. It was purchased by BBVA in 2014.

Banking 118
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Former director of Seattle startup accused of embezzling $2M in company funds

GeekWire

law enforcement authorities last week arrested a former employee of a Seattle startup who allegedly funneled more than $2 million in company funds to his personal bank accounts. Court documents reveal how Whisenant allegedly made at least 57 unauthorized transfers from Tred to 14 of his own bank accounts. (Tred Photo) U.S.

Company 95
article thumbnail

Former director at Seattle auto marketplace startup indicted on $2M wire fraud charges

GeekWire

was arrested last month and accused of making at least 57 unauthorized transfers from Tred to 14 of his own bank accounts. Founded in 2012, Tred aimed to make the process around buying and selling used cars faster and easier. According to the U.S.

article thumbnail

The HP-Autonomy lawsuit: Timeline of an M&A disaster

CIO Business Intelligence

Its Agentware internet search tools are used by enterprises including Barclays Bank and Unilever and sold as shrink-wrapped software through retail outlets. May 2012: A senior member of HP’s Autonomy unit raises concerns about Autonomy’s accounting practices. November 2012: HP takes an $8.8 billion, valuing the company at $10.3

HP 105
article thumbnail

Obama Administration Chose Cooperation over Counterattacks

CTOvision

Throughout 2012, Iran targeted United States banks and companies with a series of distributed denial-of-services cyber attacks. By ShannonPerry. The attacks doubled and sometimes tripled the amount of traffic that the American websites were capable of handling.

CTO 253
article thumbnail

Man who unlocked nearly 2 million AT&T phones gets 12 years in prison

The Verge

According to a news release from the DOJ , in 2012, Muhammad Fahd, a citizen of Pakistan and Grenada, contacted an AT&T employee via Facebook and offered the employee “significant sums of money” to help him secretly unlock AT&T phones, freeing the customers from any installment agreement payments and from AT&T’s service.

Malware 137