Aviva unit fined by U.K. for failing to stop fraud

Article Abstract:

The UK Financial services Authority levied a 1.26 mil pounds sterling fine on Norwich Union Life, a division of insurance firm Aviva PLC, for data security failures that enabled criminals to cash customer policies. The thieves accessed Norwich's databases and cashed 74 policies at a total value of 3.3 mil pounds sterling, impersonating customers using publicly available data.

Parent-to-subsidiary activities, Subsidiary-to-parent activities, Data Processing Security, United Kingdom, Data security, Aviva PLC, Data security issue, United Kingdom. Financial Services Authority, Subsidiaries, divisions and units

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SEC charges AIG with fraud

Article Abstract:

American International Group Inc. has been charged with fraud by the US Securities and Exchange Commission. The company has been charged for aiding Brightpoint Inc. in ovestating its earnings for 1998 with a fake insurance policy.

Electronic parts and equipment, Other Electronic Parts and Equipment Wholesalers, Communications Equip Whsle, Powers and duties, United States. Securities and Exchange Commission, Telecommunications equipment wholesalers, Brightpoint Inc., CELL

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AIG faces a sanction on PNC transactions; 'shot across the bow'

Article Abstract:

American International Group Inc could face civil action over transactions involving PNC Financial Services Group. AIG allegedly helped PNC hide bad loans.

Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Financial services industry, Securities fraud, PNC Financial Services Group Inc.

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