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Banks being sued for failing to protect against phishing

Created: 13 Feb 2010 • Updated: 18 Dec 2012
Tim Callan's picture
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This breaking news article explains that a Comerica Bank customer is sueing the bank for practices leaving that customer exposed to a phishing attack that cost the business $550,000. This suit comes on the heels of another piece of litigation between PlainsCapital and one of its customers over $800,000 lost in another scam.

While it remains to see how these lawsuits will play out, banks and other organizations dealing with valuable customer information should consider how their own online security actions would help them in the event of a similar lawsuit. In fact, part of Comerica's response is that the duped individuals should have seen that the phishing site was not the correct one.