[Krebs on Security] Firm Bankrupted by Cyberheist Sues Bank

Krebs on Security has posted a new item.

A California escrow firm that was forced out of business last year after a $1.5
million cyberheist is now suing its former bank to recoup the lost funds.

A state-appointed receiver for the now defunct Huntington Beach, Calif. based
Efficient Services Escrow has filed suit against First Foundation Bank, alleging
that the bank's security procedures were not up to snuff, and that it failed to
act in good faith when it processed three fraudulent international wire
transfers totaling $1,558,439 between December 2012 and February 2013.

http://krebsonsecurity.com/2014/01/firm-bankrupted-by-cyberheist-sues-bank/

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