Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Fed-hacking suspect who got CU access indicted
BROOKLYN, N.Y. (11/22/10)--A Malaysian man has been indicted in U.S. District Court in Brooklyn, N.Y., for allegedly hacking into the Federal Reserve's computers and accessing data from several entities, including credit unions and a credit union data processor. Lin Mun Poo, 32, was arrested after arriving in the U.S. on Oct. 12 and selling 30 active credit or debit cards to an undercover agent for $1,000. The indictment said he was in possession of more than 400,000 stolen credit and debit card numbers and noted he made a career of compromising computer servers at financial institutions, defense contractors and major corporations, and selling or trading the information (govinfosecurity.com Nov. 19). The computer network of the Federal Reserve Bank of Cleveland was hacked in June and affected at least 10 computers. June Gales, a spokesman for the bank, said the hacking incident involved a computer used for testing that was not hooked up to the Fed's live production system (Bloomberg Businessweek Nov. 18). Gales maintained that no data was compromised. Prosecutors said Poo gained access to several institutions, including the Firemen's Association of the State of New York and Mercer County New Jersey Teachers by hacking into FedComp Inc., a Fairfax, Va.-based data processor serving credit unions. However, Derrick Smith, president of FedComp, told Bloomberg that FedComp has never had credit card information breached. He said inclusion of FedComp may be related to an incident in 2007 involving a test platform that took test data. Poo, who is also charged with hacking into a Department of Defense contractor's computer system, faces up to 10 years in prison if convicted on all charges.
Other Resources

RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
1 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
2 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
5 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
5 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
5 hours ago