NJ Law Firm Sues TD Bank Over $200K Cyber Fraud Scheme – Law360

Written by Amanda

NJ Law Firm Sues TD Bank Over $200K Cyber Fraud Scheme  Law360

By Bill Wichert (January 31, 2022, 7:53 PM EST) — New Jersey law firm Sapiro Gottlieb & Kroll has slammed TD Bank NA with a state lawsuit alleging the financial institution allowed unknown fraudsters to steal more than $200,000 from the firm’s attorney trust account with a bogus username and password, and ultimately denied its reimbursement claim.

Sapiro Gottlieb on Friday accused TD Bank of violating “contractual obligations” and its responsibilities under the state’s Uniform Commercial Code by processing fraudulent transfers totaling $202,660 over about a week last summer, including after the firm had told the bank about such illicit transactions.

Before the transfers occurred, “SGK had instructed TD to disable…

Source: law360.com

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Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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