May 4, 2013

Briefcase

(Continued from page 1)

Algerian man charged in bank fraud conspiracy

An Algerian man has pleaded not guilty to helping develop and market a computer program that drained millions of dollars from bank accounts around the world.

A 23-count indictment charges 24-year-old Hamza Bendelladj with wire fraud, bank fraud, computer fraud and conspiracy. He was extradited from Thailand and arraigned Friday afternoon in federal court in Atlanta. It's unclear if Bendelladj has a lawyer.

Bendelladj is accused of being involved in a conspiracy to develop and sell SpyEye. The program is a banking Trojan, which was implanted onto computers to harvest financial information and drain bank accounts. The program impacted 253 financial institutions.

U.S. Attorney Sally Yates says Bendelladj leased a server from an unidentified Internet company in Atlanta to control computers.

A second person is named in the indictment but has not been identified.

EU predicts recession will continue in 2013

Europe will take longer to recover from its economic crisis as it tackles a worse-than-expected recession in the eurozone and unemployment at record levels, the European Union warned Friday.

In its spring economic forecast, the E.U. said gross domestic product in the 17 member countries that use the euro will shrink by 0.4 percent this year, better than the 0.6 percent contraction in 2012 but 0.1 percentage points worse than the E.U. had forecast back in February.

The report also had bad news for the wider 27-country E.U.: it now expects the region's economy to shrink by 0.1 percent in 2013, against a forecast of 0.1 percent growth in February.

– From news service reports

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