JPMorgan Chase and four other big U.S. banks were hit by hackers earlier this month. The perps siphoned off customer and employee data, according to Bloomberg citing an unnamed U.S. official. A subsequent Bloomberg story pointed the finger at Russian hackers — state-sponsored or not — as the probable culprits.
The FBI and Secret Service are looking into the matter and into whether the alleged Russian hackers acted in response to U.S.-imposed sanctions on Russia because of that company’s involvement in the Ukraine conflict, according to Bloomberg.
The purloined information — including customer checking and savings account data could be used to take money out of accounts although there is no evidence of higher-than-normal fraud levels, according to the New York Time
When [company]Square[/company] launched its Cash peer-to-peer payments service last year, it made transferring funds as simple as sending an email. Apparently that wasn’t easy enough. A new update to Square Cash now lets customers transfer funds through a text message.
Square doesn’t use SMS to actually move money around. Rather, it links customers’ Cash accounts and their associated debit cards to a phone number – just as it previously linked them to an email address – and uses SMS as the notification and verification tool.
While Cash users could make an email payment through any web, mobile or PC email client, the SMS service requires the Square smartphone app (available on iOS and Android). You can send funds through the Cash client to anyone in your phone’s contact list or just enter a phone number. The recipient, in turn, receives an SMS notification of the pending transfer. If…
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