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Court Finds Bank Has No Liability for Allowing Hackers to Drain Customer’s Bank Account

A Magistrate has recommended to the Federal court in Maine that a bank (in this case Ocean Bank of Maine) has no liability, even though it allowed hackers to remove more than $500,000 from one of the bank’s customers accounts. The customer, Patco Construction, had been the victim of the Zeus trojan, which steals passwords once surreptitiously installed on a victim’s computer.