Bank Sues Cyberheist Victim to Recover Funds

Brian Krebs reports on a lawsuit where Park Sterling Bank (PSB) in Charlotte, North Carolina is suing a former client, Wallace & Pittman PLLC , after the latter was the victim of a fraudulent wire transfer. The breach occurred after a key logger was installed on its system via a phishing attempt and criminals obtained the firm’s login and authorization credentials.

The bank claims it did not reverse the loss, but only temporarily credited the account. The law firm did not repay the bank for the credited amount, and had at one point sued them for not having commercially reasonable security in place. That complaint was later dismissed, and the bank turned around and sued the law firm.

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