Tennessee firm is seeking to recover about $193,000 that was stolen from its bank account by a gang of Russian cyberthieves in May 2012. The company blamed its financial institution, Trisummit Bank, for the loss and claimed the theft happened only because the bank failed to follow agreed upon security practices. The lawsuit accuses the bank of negligence, breach of contract and fraud. The TEC case is similar to several lawsuits in recent years involving banks and corporate victims of online theft. The banks have argued that they cannot be held responsible if someone illegally uses a customer’s valid login credentials to initiate wire transfer requests.”]
Source: https://www.csoonline.com/article/2465020/tennessee-firm-blames-bank-for-193k-cybertheft.html