Court Ruling Could Be Boon to Cyberheist Victims



[caption id="" align="alignleft" width="310" caption="Court Ruling Boon To Cyberheist Victims"]Court Ruling Boon To Cyberheist Victims[/caption]



BrianKrebs reported some very good news. 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 United) was not at fault for a $588,000 cyberheist in 2009 against one of its customers -- 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. Here is his full post.

Topics: IT Security

Subscribe To Our Blog


Ransomware Has Gone Nuclear Webinar




Get the latest about social engineering

Subscribe to CyberheistNews