A lawsuit filed in California alleges that Professional Business Bank of Pasadena is liable for $465,000 stolen from a business account by hackers. (PDF) Village View Escrow alleges that during a 24-hour period in March, 2010, the bank permitted 17 unauthorized wire transfers of funds totaling $465,567 from Village View’s account. The complaint filed in the Superior… Continue Reading
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Welcome to CyBIR - our Cyber and Privacy Breaches: Insurance and Reinsurance blog. Our CyBIR blog is intended to provide current and topical information as well as insightful commentary on the insurance and reinsurance implications of cyber risks and privacy breaches.