When cyberthieves stole more than $800,000 from the accounts of a machine equipment company in Texas, one might expect the victim to seek redress from their bank. To date, such compensation for electronic banking losses has been exceedingly rare as banks have carefully avoided setting such a precedent. A number of victims have sued their banks in an attempt to recover their losses, but in this case the bank has set a new precedent: it has preemptively sued the victim.
InterComputer’s Trusted Banking solution is designed to prevent cybercrimes such as this case.
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