Court Allows Woman to Sue Bank for Lax Security
This article (posted by Wired.com) was forwarded to us by one of our banking clients. As I read it, I became increasingly concerned about what impact this ruling may have on other financial institutions.
An Illinois district court has allowed a couple to sue their bank on the novel grounds that it may have failed to sufficiently secure their account, after an unidentified hacker obtained a $26,500 loan on the account using the customers’ user name and password.
As initially reported by legal blogger, David Johnson, Marsha and Michael Shames-Yeakel sued Citizens Financial Bank in 2007 in the northern district of Illinois on several grounds, including a claim that the bank failed to provide state-of-the-art security measures to protect their account.
For the full Wired.com article: Court Allows Woman to Sue Bank for Lax Security After $26,000 Stolen by Hacker
Leave a comment
Another awareness poster for YOUR customers (and users). Now that we have our own em Read more
We’re pretty proud of Dan’s predictive prowess and can’t resist taking another look a Read more
Great Resources For User Awareness An article review. We at infotex take great pride Read more
As the cryptocurrency gains users, some financial organizations are cracking down. An Read more