Village View Escrow Inc. lost nearly $400,000 after its online bank account with Professional Business Bank was taken over by hackers in March 2010. Village View recovered more than the full amount of the funds that had been fraudulently taken from the account, plus interest. Legal creativity is making a difference in how courts and financial institutions view account takeover cases, attorneys say. In the Village View case, attorneys turned to Article 4A of the Uniform Commercial Code, which governs how financial institutions handle incidents of wire-transfer fraud.”]
Source: https://www.cuinfosecurity.com/inside-village-view-fraud-case-a-4954