About Us | Contact Us
View Cart

Court Ruling Could Be Boon to Cyberheist Victims

By Vigilize | Friday, July 6, 2012 - Leave a Comment

According to an article posted by Krebs on Security, a decision handed down by a federal appeals court this week may make it easier for small business owners victimized by cyberheists to successfully recover stolen funds by suing their bank.

Provide Customer Awareness Training!

 
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 United) was not at fault for a $588,000 cyberheist in 2009 against one of its customers — Sanford, Me. based Patco Construction Co. The appeals court sent specific aspects of the earlier decision back to the lower court for review, but it encouraged both parties to settle the matter out of court.

You may read the full story as posted by Krebs on Security:     Court Ruling Could Be Boon to Cyberheist Victims

infotex would like to thank Dennis Teague of MainSource Financial Group for sharing this post with us.

Posted in Article Reviews, Risk Management

Related Articles
Latest News
    R7: 2023’s Top Seven Technology Risks Video
    R7: 2023’s Top Seven Technology Risks Webinar-Video What are the top seven risks your board should know about in 2023? Since 2006, Dan has been compiling a list of the “top seven risks small institutions are facing,” in preparation for his board presentations. This webinar will present the 2023 list in a manner that you […]
    Introducing William Summers
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS NEW EMPLOYEE FOR INFOTEX We are excited to announce the addition of William Summers to our team as our new Data Security Analyst. William brings a wealth of knowledge to our organization, and we are confident that he will be an invaluable asset in helping us reach […]
    Worf
    Yes, the CISO of the Starship Enterprise On AI replacing the business of cybersecurity. Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . From time to time, my friends from high school, and even some from college, who have a minimal understanding of the cybersecurity […]
    The Consequence of Unintended Consequences
    Artificial intelligence carries risk, but so does organic ignorance … Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . At a recent conference, I noticed two camps emerging in the debate over artificial intelligence. Some people embrace AI as a tool, while others support Elon […]
    Introducing Nathan Taylor
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS NEW EMPLOYEE FOR INFOTEX We are pleased to announce the appointment of Nathan Taylor as our new Network Administrator at infotex.  “We are very excited to have Nathan join our team as a Network Administrator and look forward to his contributions to maintaining and improving our infrastructure!” […]
    I saw the news today, oh boy
    about artificial intelligence . . . And who will protect us from it . . .  Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Just watched some press on the the Senate hearings over regulating AI. The normal senator faces, Sam Altman of OpenAI, […]
    Slammed Again
    The Evolution of an Inside Term Used in our Vendor Risk Report Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Those who audit infotex know that our vendor risk report refers to a couple of our providers as “ransomware companies.” This reference started evolving […]
    “Inbox Zero” – Awareness Poster
    Another awareness poster for YOUR customers (and users). Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Check out posters.infotex.com for the whole collection! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape) You are welcome to print out and distribute this around your […]
    Experts Warn of AI Cybersecurity Risk
    New tools could allow unskilled attackers to launch increasingly sophisticated attacks… An article review. Imagine a world where you receive a call from your boss asking you to assist them with something… only it’s not your boss, but an AI being used by an attacker.  This isn’t science fiction, it’s an actual attack that has […]
    Paradise Wanes
    Unavailability Strikes Where it doesn’t matter anyway Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . So, I’m writing today’s article from a resort in the middle of Wisconsin.  I want to make sure I’m staying on top of my New Leaf, which is to […]
To the Blog