An appellate court in Boston reversed a lower court’s ruling that favored a bank in a legal dispute over a 2009 account takeover incident. The case exemplifies the challenges courts face in resolving cases involving ACH and wire fraud. The key issue? How to define “reasonable” security – and how that definition changes over time. Financial security and legal experts offer widely varying perspectives about the appellate court ruling. The ruling marks the first time we’ve seen a federal court’s review of a dispute involving fraud linked to account takeover.”]
Source: https://www.databreachtoday.com/blogs/defining-reasonable-security-p-1323