This is an interesting case, and many will be very interested to see how this plays out in the legal system. It is also a great example of the potential pitfalls of relying on cyber insurance to “protect” against cyber crime. It is unknown how much effort and expense the bank has invested in cyber protections, so it is unfair to judge the overall outcome of this breach. A big thank you to Mr. Krebs and the team at KnowBe4 for covering this story and sharing their insights.
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