US Court of Appeals says bank security system wasn’t up to snuff, meaning it might be liable for some loses incurred by a hacked customer

The decision by the United States Court of Appeals for the 1st Circuit to overturn a lower court ruling that let a bank off the hook for losses incurred by a hacked customer has implications for both financial institutions (they need to do more) and their business customers (who typically lack legal protection from fraud that consumers enjoy).

read more

Read more: US Court of Appeals says bank security system wasn’t up to snuff, meaning it might be liable for some loses incurred by a hacked customer

Story added 16. July 2012, content source with full text you can find at link above.