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Court rules in favor of Bank in account takeover case
Unlike the PATCO ruling, a district court in Missouri has ruled in favor of the bank in an account takeover case brought by one of its commercial customers. This case was very similar to the PATCO case with one important exception, which I’ll discuss shortly. But it also raises some interesting questions that could impact…
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Customer Awareness Education – 3 reasons it should now be a top priority (and how to address it)
By now everyone has at the very least completed their electronic banking risk assessment, and most institutions have probably gotten feedback from their primary examiner on their progress. So what’s next? Where should you focus your time and resources now? Or should you just wait to see where the regulators go next? Here are 3…
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Commercially UNreasonable Security
So an appellate court has just reversed the PATCO court ruling, essentially deciding against the financial institution. They ruled that the banks’ security procedures were commercially UN-reasonable.
