Cyber Risks · Krebs on Security

All Banks Should Display A Warning Like This

Summary: A Krebs on Security reader photographed an anti-fraud awareness poster at Philadelphia Federal Credit Union that lists common scam red flags, and the post calls for other bank branches to replicate it. Commenters note that banks face a requirement to educate customers about fraud, and one banker describes holding or refusing questionable transactions when a customer flags a listed warning.

What you should know: The thread cites Patco Construction, which sued its bank after losing $345,000 in an online banking heist and settled after the First Circuit faulted the bank's security measures, a reminder that customer-facing fraud warnings sit alongside real liability questions for financial institutions.

Read the original at Krebs on Security ↗

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Data Breaches
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