Security Bulletin: Court Favours EMI

By Jordan Harris – 06/16/11

Courts in Michigan ruled in favour of Experi-Metal Inc. (EMI) 18 months after the case started:Faronics: Security Bulletin

  • The bank was found liable for $560,000 to cover the funds lost
  • ”Had the bank had any sort of follow-up or backroom security in place, they would have picked up on the fact that these were fraudulent transactions.” – Richard Tomlinson, EMI’s Attorney
  • The bank was aware of phishing scams on its customers but did not pick up on the 90 fraudulent wire transfers EMI’s inactive account had in one day.

 

Jordan Harris