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Negligence › Cyber Crimes › Financial Institutions

Troutman Pepper Locke

Fourth Circuit Holds UCC Article 4A Requires Beneficiary Bank’s Actual Knowledge for Wire Misdescription Liability in Business...

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On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed a district court’s decision holding a credit union liable for a wire transfer in a business email compromise scam case where the credit union lacked...more

Wiley Rein LLP

Coverage for Negligence Claim Against Law Firm Arising from Wire Fraud Barred by Professional Liability Policy’s “Theft Exclusion”

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Applying Florida law, the United States District Court for the Southern District of Florida has held that a theft exclusion bars coverage under a lawyers’ professional liability policy for a negligence claim against the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - November 2017

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In this month's edition of our Privacy & Cybersecurity Update, we discuss a Washington state court decision allowing a data breach lawsuit to move forward on a negligence claim, a Ninth Circuit ruling regarding releasing...more

Patterson Belknap Webb & Tyler LLP

Follow the Money and Beware the Extra “L”: First Department Sustains Claims against Fund Administrator After Hackers Grab Millions

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A legal feud is underway between the world’s biggest hedge fund administrator and a former client over an email scam that resulted in hackers stealing millions in client funds. And not surprisingly, the time-honored...more

Orrick, Herrington & Sutcliffe LLP

Aravind Swaminathan Weighs in on Proposed Cybersecurity Regulations for Financial Institutions

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Aravind Swaminathan, global co-chair of Orrick’s Cybersecurity & Data Privacy team, recently spoke with Global Investigations Review regarding new plans proposed by New York’s Department of Financial Services that will...more

Bilzin Sumberg

Home Depot Challenges Banks’ Standing to Recover Losses Related to Data Breaches

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In the aftermath of major data breaches at deep-pocketed retailers and other businesses, there is typically no shortage of litigants who move quickly to seek compensation from the business at which the breach occurred. But...more

King & Spalding

Eighth Circuit Finds That Insurance Coverage Extends To Fraudulent Losses Caused By Computer Hacker

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On May 20, 2016, the U.S. Court of Appeals for the Eighth Circuit affirmed breach-of-contract claims brought by Minnesota-based State Bank of Bellingham (“Bellingham Bank”) against BancInsure Inc. (“BancInsure”), an insurance...more

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