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New court decision upends U.C.C. rule typically applied, holds bank liable for unrecovered funds from a phishing attack

  • Davis Wright Tremaine LLP
  • -
  • USA
  • -
  • July 1 2011

A U.S. District Court in the Eastern District of Michigan has issued its decision in Experi-Metal, Inc. v. Comerica Bank, holding that a bank - instead of the bank’s customer - was liable for $560,000 in unrecovered funds from a phishing attack