A lawsuit filed in Tennessee earlier this month has resurfaced questions about a bank’s responsibility in protecting customers against cyberheists.
TEC Industrial Maintenance & Construction (formerly Tennessee Electric Company) is seeking to recover about $ 193,000 that was stolen from its bank account by a gang of Russian cyberthieves in May 2012.
In a lawsuit, the company blamed its financial institution, Trisummit Bank, for the loss and claimed the theft happened only because the bank failed to follow agreed upon security practices. The lawsuit accuses TriSummit of negligence, breach of contract and fraud.
Details of the lawsuit were first reported by security blogger Brian Krebs on Wednesday.
To read this article in full or to leave a comment, please click here