Stuart M. Gerson, a Member of the Firm in the Litigation and Health Care and Life Sciences practices, in the firm’s Washington, DC, office, was quoted by Bankrate.com, in “Hacker Attack! Could Bank Hackers Steal Your Money?” by Marcie Geffner.
Following is an excerpt:
Federal law says that if someone takes money from your bank account you will get all of your money back if you notify your financial institution within 60 days after the fraudulent transaction appears on your bank statement.
“(But) you can’t have done dopey things that exposed your account,” Gerson says.
Business accounts have fewer protections and are more likely to be hackers’ targets.
“They’re interested in getting into business accounts where there are big bucks and they can transfer hundreds of thousands or millions of dollars, and that looks normal because that’s what businesses do,” Gerson says.