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Court allows suit against bank for lax security (updated)

Posted on September 2, 2009 by Dissent

Jaikumar Vijayan of Computerworld reports:

A couple whose bank account was breached can sue their bank for its alleged failure to implement the latest security measures designed to prevent such compromises.

In a ruling issued last month, Judge Rebecca Pallmeyer, of the District Court for the Northern District of Illinois, denied a request by Citizens Financial Bank to dismiss a negligence claim brought against it by Marsha and Michael Shames-Yeakel. The Crown Point, Ind. couple — customers of the bank — alleged that Citizens’ failure to implement up-to-date user authentication measures resulted in the theft of more than $26,000 from their home equity line of credit.

Read more on Network World

Updated 9-23-09: Wired provides a copy of the court opinion in a story they wrote two days after this blog entry was posted. Now Bruce Schneier has blogged about the case, and Dark Reading also offers commentary.

Category: Breach IncidentsFinancial SectorOf NoteOtherU.S.

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