Posts Tagged: Charisse Castagnoli


19
Jan 11

Experi-Metal vs. Comerica Case Heads to Trial

A lawsuit headed to court this week over the 2009 cyber theft of more than a half-million dollars from a small metals shop in Michigan could help draw brighter lines on how far banks need to go to protect their business customers from account takeovers and fraud.

The case is being closely watched by a number of small to mid-sized organizations that have lost millions to cyber thieves and have been waiting for some sign that courts might be willing to force banks to assume at least some of those losses.

Nearly two years ago, cyber crooks stole more than $560,000 from Sterling Heights, Mich. based Experi-Metal Inc. (EMI), sending the money to co-conspirators in a half-dozen countries.

Continue reading →