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[Wired] Bank Not Responsible for Letting Hackers Steal $300K From Customer - Page 4

post #31 of 35
Quote:
Patco Construction Company, a family-owned business in Sanford Maine, sued Ocean Bank, which is owned by People’s United Bank, after discovering in May 2009 that hackers were siphoning about $100,000 per day from its online bank account. The hackers had sent a malicious e-mail to employees that allowed them to surreptitiously install the Zeus password-stealing trojan on an employee computer.
Not bank's fault. Employee's for being stupid, and company's for not having more secure malware protection.
post #32 of 35
Ah, America!
post #33 of 35
Quote:
Originally Posted by sgr215 View Post
I originally thought that was the case but it says this:



At that rate, the ACH transactions would have all appeared in the hackers account around the same time, even if it was done in dozens or hundreds of small transactions each day. So one day the hacker woke up and saw an available balance of $100,000 and the next, $200,000 and so on if it was all sent to the same account. The only thing I can figure is the following has to happen:
  • The hackers have some serious inside connections with bankers, law enforcement and government officials

and/or
  • They used dozens; if not thousands of accounts for the ACH transactions under stolen identities and then sent teams of theives out to hit ATM's to cash out.

Regardless, these are some true masterminds at work.

I personally think it's a two way street as far as responsibility goes; the bank should have noticed these large and irregular transactions and the account owners should have kept up on their account. I personally know where every single cent goes in my accounts and if this sort of thing happened to me my account would be frozen ASAP; not several days later.
keep in mind too... that if they had also been numerous offshore accounts (ie foreign) under false or assumed named they would be hard to impossible to trace.
    
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post #34 of 35
This is why I have many, many email accounts. Several of them exist just to get filled with junk and scam emails, and since I don't ever log in to them, send anything legit to them, or give them out to actual sites or people there isn't any risk of me clicking one accidentally.
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post #35 of 35
To be honest the bank didn't get hacked, the customer did. The bank should NOT be responsible, its the same as if the customer had left a paper with their bank details on a bus stop bench.

Does it suck for the customer? Yes. Is it the banks fault? Nope.

To the person who said it was a business and not a person who was out the money don't be so naive. Who do you think owns and operates businesses? For most small businesses to lose that kind of money means they can't make payroll, so their employees go without a paycheck, they can't maintain inventory or maybe not even meet their financial obligations, i.e. rent, utilities, etc. This can easily mean they go out of business. Business are run by and for people. The big multinationals are insulated from this kind of risk but there are a lot more medium and small businesses than big ones.
Edited by Mygaffer - 6/8/11 at 8:31pm
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