Global Bank Theft

US investment bank Morgan Stanley will pay $1 million for lax protection of customer data after an employee took records on some 730,000 clients, the Securities and Exchange Commission announced on Wednesday.

Six people were arrested and charged on Monday for participating in a worldwide ATM heist that stole $45 million from two Middle East banks.

EnStage Inc, which operates from Bangalore, and ElectraCard Services, which is based in Pune, processed card payments for the two Middle Eastern banks that were hit in the theft, according to several people familiar with the situation.

A brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit cards.

US investment bank Morgan Stanley will pay $1 million for lax protection of customer data after an employee took records on some 730,000 clients, the Securities and Exchange Commission announced on Wednesday.

Six people were arrested and charged on Monday for participating in a worldwide ATM heist that stole $45 million from two Middle East banks.

EnStage Inc, which operates from Bangalore, and ElectraCard Services, which is based in Pune, processed card payments for the two Middle Eastern banks that were hit in the theft, according to several people familiar with the situation.

A brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit cards.