The company, Ponemon says, provided data from 6 million customer accounts to a marketing firm in Southeast Asia.
Security is a constant concern, and that means both protecting customer accounts and making sure they are not blocked unnecessarily.
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Backups of customers website have become heavily corrupted as well and the firm is currently manually recreating over 1, 000 customer accounts.
The agency said FCStone had failed to properly supervise its staff's activities as it related to risk associated with the customer accounts.
What's his record--and that collection of customer accounts--worth on the open market?
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.
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Nadeem Kashmiri, a data operator, was charged with hacking into the computer system which allegedly led to money being stolen from customer accounts.
Smaller banks will either lose customer accounts to larger banks or lose revenue that is used to support free checking and other valuable services.
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For starters, a company should look to diversify its customer base and make sure no single customer accounts for more than 20% of revenues.
For example, some money managers engage in business with affiliated brokerages, including executing of customer trades and purchasing of IPOs underwritten by the affiliate for customer accounts.
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The trade in personal data suggests that internet criminals have more or less given up hacking into banking systems and trying to steal databases of customer accounts.
These firms can look at their customer accounts to see how popular these funds are and might want to try and bring some of that money home.
The bank, which operates in stores, online and by telephone, has 6.5 million customer accounts, with services ranging from insurance to credit cards, loans and personal savings offers.
"There is no doubt that there will be reconciliations to some customer accounts that also need to take place over the coming days and weeks, " a statement said.
But nine years later it acquired database management software from Lockheed Martin and started selling the technology under license to small banks, to help them manage their customer accounts.
That growth in the number of customer accounts has driven them to modernize their core banking software to handle the volumes and integrate their transaction banking with mobile channels.
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The IRS has provided some transitional relief, delaying for one year the application of the reporting rules and their penalties to financial firms that transfer customer accounts to another firm.
The report includes a description of the regulatory review priorities for 11, 000 registered investment advisers, 800 registered investment company complexes and 4600 registered broker-dealers with approximately 111 million customer accounts.
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The subterfuge of using different brokerage firms and multiple customer accounts is to give the false impression of increased market interest and depth, and to hide the true identities of the manipulators.
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Analyzing customer data also allows banks to spot any potential customer problems, improve management of customer accounts, engage in real-time dialogue with customers, and improve overall customer experience online and over the phone.
Pressured by regulatory changes which limit debit card interchange fees charged by banks, Bank of America plans to alter the fees and services on its checking, savings and other customer accounts.
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The company, Ponemon says, gave data from six million customer accounts to a marketing firm in Southeast Asia, where it was eventually posted to a Central Asian site dealing in black-market credit card numbers.
We began to prepare the necessary paperwork for a bulk transfer of our customer accounts to another FCM, talking with other FCMs we work with to see who could facilitate the transfer the easiest.
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The owners of hacked sites should be held responsible for their visitors' exposed data, just as hacked companies are held responsible for customer accounts, argues Alan Paller, director of the SANS Institute, a security training organization.
Unless you protect investors from the ravages of rapacious scoundrels who can tap into customer accounts at will, MF Global and Peregrine-like scams will continue unabated and investors will stay away from the business in droves.
The former CEO of MF Global Holdings may have known of a loan to one of the firm's European affiliates using segregated customer accounts, CME Group's head told a U.S. Senate panel, contradicting Jon Corzine's own testimony.
But nine years later it acquired database management software from Lockheed Martin (nyse: LMT - news - people ) and started selling the technology under license to small banks, to help them manage their customer accounts.
Customer accounts have been moved to other clearing firms, but not all positions or monies have accompanied the move and that might have caused accounts that do not have sufficient margin to sell other assets to top off the accounts.
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Consumer advocates have criticized banks for playing games with customer accounts, like manipulating activity to levy overdraft penalties on the maximum number of small transactions, and then increasing them based on how long it takes for a deposit to post to an account.
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