Bill Would Give Cities, Towns and Schools Same e-Banking Security Guarantees as Consumers

In response to a series of costly online banking heists perpetrated against towns, cities and school districts, Sen. Charles Schumer (D-NY) has introduced legislation that would extend those entities the same protections afforded to consumers who are victims of e-banking fraud. Under “Regulation E” of the Electronic Funds Transfer Act (EFTA) consumers are not liable … Читать далее

A Stroll Down Victim Lane

Last week I traveled to Cooperstown, N.Y. to deliver a keynote address about the scourge of online banking fraud that I’ve written about so frequently this past year. I flew into Albany, and in the short, 60 minute drive west to Cooperstown, I passed through tiny Duanesburg, a town whose middle school district is still … Читать далее

FBI Investigating Theft of $500,000 from NY School District

The FBI is investigating the theft of nearly a half million dollars from tiny Duanesburg Central School District in upstate New York, after cyber thieves tried to loot roughly $3.8 million from district online bank accounts last month. On Friday, Dec. 18, thieves tried to electronically transfer $1.86 million from the district’s account at NBT … Читать далее