Court Ruling on "Reasonable" Electronic Banking Security
One of the pleasant side effects of being too busy to write longer blog posts is that — if I wait long enough — someone else writes what I would have wanted to.
The ruling in the Patco Construction vs. People’s United Bank case is important, because the judge basically ruled that the bank’s substandard security was good enough — and Patco is stuck paying for the fraud that was a result of that substandard security. The details are important, and Brian Krebs has written an excellent summary.
EDITED TO ADD (7/13): Krebs also writes about a case going in the opposite direction in a Michigan court.