Customer Sues Bank After Phishing Attack, MI-Based Business Lost $550,000 in Breach

Another lawsuit has been filed against a bank for not keeping their customers secure.  This particular one claims that the bank's authentication system was susceptible to phishing.  Comerica Bank and others can "ELIMINATE" the threat of phishing by switching from a "typing your banking credentials" environment to a "swiping your banking credentials" one.  They say practice makes perfect, but the practice of "typing" username/passwords is far from perfect. 

Customer Sues Bank After Phishing Attack

MI-Based Business Lost $550,000 in Breach

Bank Info Security's Managing Editor, Linda McGlasson, is reporting that:



A Michigan-based metal supply company is suing Comerica Bank, claiming that the bank exposed its customers to phishing attacks.



A lawsuit filed by Experi-Metal Inc. (EMI) in Sterling Heights, MI alleges that Dallas-based Comerica opened its customers to phishing attacks by sending emails asking customers to click on a link to update the bank's security software. EMI says even though the bank had two-factor authentication using digital certificates for its online banking portal, the phishing scam was able to circumvent these measures.



EMI contends that Comerica's actions opened its online bank account to a successful phishing attack where more than $550,000 was stolen from the company's bank accounts and sent overseas.



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