– Civil Ruling on Cyber Attack Reversed:Appeals Court Calls Bank’s Security ‘Commercially Unreasonable’
(From The Bankinfosecurity.com): “A federal appeals court has reversed a lower court’s ruling in the ACH/wire fraud dispute between PATCO Construction Inc. and the former Ocean Bank, now People’s United. In a decision issued July 3, the First Circuit Court of Appeals in Boston ruled in favor of PATCO, reversing a district court’s 2011 judgment that favored the bank, and further recommended that the two parties pursue an out-of-court settlement of the case. The 43-page ruling describes the bank’s security procedures as “commercially unreasonable,” saying the institution should have detected and stopped the fraudulent transactions that drained more than $500,000 from PATCO’s commercial account in 2009.” Source: http://z362r.tk
Habeas Hard Drive Says: Businesses that take reasonable, and known effective measures lower their risk of being a victim. And, they will have a strong civil case against their bank should cyber thefts occur. These so-called Bank Account Take-Over Attacks have hit thousands of unsuspecting businesses. The attacks target the computers of the bank’s customers. The banks think it’s the customer’s failure to protect their systems. The customers think it’s a failure of the banks to protect their money. The cybercriminals are driving billions of dollars in thefts right between the gap. Businesses need to strengthen their data security, and document those practices in the event of litigation against their bank.
– Internet Blackout Looms for Thousands: Really?
(From Yahoo News): “Thousands of computer users may lose Internet access on Monday, when the deadline for a temporary fix to a malicious software scam shut down by the FBI last year expires. Millions of computers were infected with the so-called “Internet Doomsday” virus used in the hacking scam, which redirected Internet searches through DNS servers used by the scammers.” http://ojytj.tk
Habeas Hard Drive Take: While some users will find it difficult to get on the web Monday, and every day thereafter, this will not impact a large number of users. This issue is not the real threat. The real threats are from the high number of other attacks that have yet to be taken down by law enforcement.
The smart companies will be ready, with stronger defenses. And, their attorneys will advise them to document their stronger defenses and the other procedures they take to protect their information assets.
— Cybercriminals Attacking Vulnerable Smaller Firms Through Their Bank Accounts
(From The Wall Street Journal): “With cybercriminals a greater threat to small businesses than ever before, more entrepreneurs like Lloyd Keilson are left asking themselves who is to blame for hacking attacks that drain their business accounts. In May, Lifestyle Forms & Displays Inc., a mannequin maker and importer led by the 65-year-old Mr. Keilson, had $1.2 million wiped out of its bank accounts in just hours through online transactions. The theft from the Brooklyn, N.Y., company, which has about 100 employees, wasn’t an isolated incident.” Source: http://tuuni.tkcool
Habeas Hard Drive Says: See comments above in the PATCO case.
*******SPONSORED BY DataCloneLabs.com*******
HAVE YOU OVERLOOKED THE DIGITAL EVIDENCE? THE SOURCES ARE NOT ALWAYS OBVIOUS
We can locate The Digital Smoking Gun
email info [at] dataclonelabs.com or call 702-331-8686 x2000