Thursday, September 24, 2009

Couple's Lawsuit Against Bank Over Breach To Move Forward

So who is responsible the Bank/FI or the end user?

A U.S. District Court ruling in a lawsuit against a bank over a hacked online account has raised thorny questions about who's ultimately responsible for the breach of a customer's account.

An Illinois district court denied Citizens Financial Bank's request to dismiss a lawsuit that charges the bank was negligent in protecting a couple's bank account after their user name and password were stolen and used to pilfer $26,000 from their account. The ruling lets the couple, Marsha and Michael Shames-Yeakel, continue with their lawsuit, mostly based on their allegations that the bank failed to properly secure their account.

Full story here.

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