Hay Maker Seeks Cyberheist Bale Out

An Oregon agricultural products company is suing its bank to recover nearly a quarter-million dollars stolen in a 2010 cyberheist. The lawsuit is the latest in a series of legal challenges seeking to hold financial institutions more accountable for costly corporate account takeovers tied to cybercrime. On Sept. 1, 2010, unidentified computer crooks began making … Читать далее

Big Bank Mules Target Small Bank Businesses

A $170,000 cyberheist last month against an Illinois nursing home provider starkly illustrates how large financial institutions are being leveraged to target security weaknesses at small to regional banks and credit unions. I have written about more than 80 organizations that were victims of cyberheists, and a few recurring themes have emerged from nearly all … Читать далее

Court Ruling Could Be Boon to Cyberheist Victims

A decision handed down by a federal appeals court this week may make it easier for small businesses owners victimized by cyberheists to successfully recover stolen funds by suing their bank. The U.S. Federal Court of Appeals for the First Circuit has reversed a decision from Aug. 2011, which held that Ocean Bank (now People’s … Читать далее

Regulators Issue Updated eBanking Security Guidelines

Federal banking regulators today released a long-awaited supplement to the 2005 guidelines that describe what banks should be doing to protect e-banking customers from hackers and account takeovers. Experts called the updated guidance a step forward, but were divided over whether it would be adequate to protect small to mid-sized businesses against today’s sophisticated online … Читать далее

Experi-Metal vs. Comerica Case Heads to Trial

A lawsuit headed to court this week over the 2009 cyber theft of more than a half-million dollars from a small metals shop in Michigan could help draw brighter lines on how far banks need to go to protect their business customers from account takeovers and fraud. The case is being closely watched by a … Читать далее

Regulators Revisit E-Banking Security Guidelines

Prodded by incessant reports of small- to mid-sized business losing millions of dollars at the hands of organized cyber criminals, federal regulators may soon outline more stringent steps that commercial banks need to take to protect business customers from online banking fraud and educate users about the risks of banking online. At issue are the … Читать далее