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From: InfoSec News (alertsinfosecnews.org)
Date: Tue Sep 08 2009 - 02:19:14 CDT
By Kim Zetter
September 4, 2009
An Illinois district court has allowed a couple to sue their bank on the
novel grounds that it may have failed to sufficiently secure their
account, after an unidentified hacker obtained a $26,500 loan on the
account using the customers’ user name and password.
As initially reported by legal blogger, David Johnson, Marsha and
Michael Shames-Yeakel sued Citizens Financial Bank in 2007 in the
northern district of Illinois on several grounds, including a claim that
the bank failed to provide state-of-the-art security measures to protect
U.S. District Judge Rebecca Pallmeyer refused last week to grant a
summary judgment in favor of Citizens Financial, stating in her ruling
(.pdf) that "assming that Citizens employed inadequate security
measures, a reasonable finder of fact could conclude that the
insufficient security caused Plaintiffs'conomic loss."
Larry Smith, an attorney for the Shames-Yeakels, told Threat Level that
he's surprised and happy by the judge's ruling, particularly since the
negligence claim was not the meat of their case against the bank.
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