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.