article thumbnail

JPMorgan says Tesla owes the bank $162 million

The Verge

JPMorgan has sued Tesla, claiming that the electric car company owes the bank $162 million related to a 2014 stock warrant agreement. The dispute centers around adjustments the companies made to the agreement following Tesla CEO Elon Musk’s 2018 “[f]unding secured” tweet and the resulting fallout. Funding secured.”

Banking 143
article thumbnail

US banking regulators are looking to clarify crypto rules in 2022

The Verge

The Federal Reserve, Federal Deposit Insurance Corporation (or FDIC), and Office of the Comptroller of the Currency (OCC) have issued a joint statement announcing a plan to clarify the rules and regulations around how banks can use cryptocurrencies over the next year ( via Bloomberg ). Banks now have to show they can safely handle crypto.

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

New Cyber Incident Reporting Rules for U.S. Banks

SecureWorld News

At the same time, banking organizations are a growing target for cyberattacks. One study by Trend Micro reported a 1,318% rise in ransomware attacks targeting banks in the first half of 2021. Now, the federal government is stepping in to provide more security transparency, aimed at detecting damaging cyber incidents early.

Banking 80
article thumbnail

Data breach exposes 1.6 million Washington state residents who filed unemployment claims in 2020

GeekWire

The Office of the Washington State Auditor is investigating a security incident which has compromised the personal information of more than 1.6 million people who filed for unemployment claims in the state in 2020. “The Employment Security Department did nothing to cause this, and is not responsible in any way for this incident.”

Data 144
article thumbnail

Exclusive: Apple held talks with EV startup Canoo in 2020

The Verge

Apple held meetings with California EV startup Canoo in the first half of 2020 as part of the Silicon Valley giant’s secretive effort to advance its own electric vehicle project , three people familiar with the talks have told The Verge. Canoo raised some $600 million when the deal closed near the end of 2020. Image: Canoo.

Apple 136
article thumbnail

5 challenges for securing the future

CIO Business Intelligence

Information security has been an intriguing part of our past, is a critical part of our present, and will be a defining factor in our future. The economics of security are clear: “There is no financial stability without cybersecurity,” writes Loretta J. Mester , President and CEO of the Federal Reserve Bank of Cleveland.

Security 130
article thumbnail

State of Cybercrime 2020: FBI Report

SecureWorld News

Here is the report's opening paragraph: "In 2020, while the American public was focused on protecting our families from a global pandemic and helping others in need, cyber criminals took advantage of an opportunity to profit from our dependence on technology to go on an Internet crime spree. Business Email Compromise 2020.

Report 55