Bank sues victim of $800,000 cybertheft

http://www.computerworld.com/s/article/9149218/Bank_sues_victim_of_800_0...

This is an interesting article.  Apparently the victim in this case had about $800,000 wired out of his bank account.  The bank was able to recover about $600,000.  The fight remains over the remaining $200,000.  The victim claims the bank did not have good enough security mechanisms to protect his account.  The bank contends that the user's credentials were used and that their system meets industry standards.

The bank is suing the victim, trying to prove that they should not be responsible for the $200k.

One of the things we re-iterate is not to use your debit card, or bank card, when purchasing online.  Credit cards give you a level of protection, or a buffer.  You are still responsible for safe computing techniques, but at least when something like this happens, you have another layer of protection.  Always be sure to check your statements often and verify that the transactions are legitimate.

Update: This fraud did not come from using the victim's bank card information.  I'm just making the leap that if your card information is stolen, it may make life easier if it is a credit card rather than a bank card.  This example shows that the victim's username and password were stolen.  This also shows keeping this information safe is very important.

I hope that the bank and the victim come to an amicable resolution.  $200,000 is a lot of money to lose to fraud.

Thanks,
ep