A former Bank of America employee has been arrested and charged in connection with a multimillion-dollar scheme to misappropriate funds from customer accounts, according to the U.S. attorney for the Southern District of Florida.
Ricardo Figuerado surrendered to authorities on Thursday morning.
It is alleged that between the mid-1990s and May 2008, Figuerado misappropriated more than $11 [...]

Heartland Payment Systems, a publicly traded company that provides bank card payment processing services to merchants in the U.S., has suffered a malware breach that may be linked to a “widespread global cyber fraud operation.”
In a statement  the company said its system used to process Visa, MasterCard, American Express and Discover Card transactions was breached [...]

This latest survey, conducted by the Economist Intelligence Unit on behalf of KPMG, reveals that banking executives named an aggressive profit based incentives and remuneration system (52%), followed closely by lack of risk governance (50%) and risk culture (48%) as leading contributors leading up to the credit crisis.
Joanna Declercq-Zelechowska, a Partner in the financial risk [...]