Bank not liable for phishing fraud at charity

A charity that lost $2 million when a “fraud prevention officer” was able to take over its computer system and authorize 14 wire transfers in 33 minutes has lost its claim against the bank that made the transfers. A federal District Court in Michigan has ruled that the bank did not violate any of its agreements with the charity.

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Bank not liable for phishing fraud at charity

Bank not liable for phishing fraud at charity