California-based Efficient Services Escrow Group is suing its former bank over a $1.5 million account takeover fraud incident. The lawsuit alleges First Foundation Bank of California had insufficient security procedures in place when cybercriminals hacked the company’s bank account. Attorney: “It’s hard to fathom exactly what is going on here” The lawsuit is asking the court to award the escrow company $1 million that was never recovered. The bank did not immediately reply to requests for comment; the lawsuit was first reported by security blogger Brian Krebs.”]
Source: https://www.cuinfosecurity.com/firm-sues-bank-over-cyberheist-a-6359