Tag Archives: bank

Ruling Gives New Life to Bank Claims Against Breached Retailers in Target Case

By Craig A. Hoffman on December 3, 2014 Posted in Retail Industry

One common occurrence after the disclosure by a retailer of a breach affecting card present payment card data used to be the filing of claims by banks that issued payment cards affected by the incident. The banks bringing the claims were usually smaller banks seeking to recover the costs of reissuing new cards and counterfeit … Continue Reading

Bank Agrees to Reimburse Company for Funds Taken Through Online Bank Account Theft

By Craig A. Hoffman on December 6, 2012 Posted in Financial Privacy

We reported in July on a First Circuit Court of Appeals decision finding that a bank failed to implement commercially reasonable security methods to prevent unauthorized transfers by a criminal that gained the online banking credentials of a construction company. The criminal was able to steal $345,000 from the construction company’s account. It was then reported on … Continue Reading