Questions are now being raised about bank and merchant liability after a breach. A former BofA employee allegedly leaked Social Security numbers and PINs to a ring of criminals. Privacy experts like Kirk Nahra say the whole incident is one “big, scary story” But until they update their contracts, which in some cases are decades old, banks will continue to suffer from losses they can’t recoup. Maybe the “problem” was picked up on sooner? Maybe the fraud was detected in some areas and not others.”]
Source: https://www.inforisktoday.com/blogs/internal-crimes-at-bofa-card-fraud-post-michaels-p-961