The PATCO Construction Inc. case, recently reversed by a U.S. appeals court, is seen as a victory for fraud victims. But what are the key takeaways for banking institutions? Attorney Joe Burton offers insight. Burton: The ruling is a “fairly significant” one, since it’s the first appellate case of this type. He says one unanswered question in the case may end up favoring banks: What is the responsibility of the customer even if bank’s security procedures are commercially unreasonable?”]
Source: https://www.cuinfosecurity.com/3-lessons-from-patco-fraud-ruling-a-4970