In a very strange turn of events, PlainsCapital bank is suing its customer, Hillary Machinery Inc, in a case regarding cyber-theft.
It seems that in November 2009, Romanian fraudsters gained access to the usernames and passwords of Hillary Machine’s online corporate bank account with PlainsCapital. They transfered $800,000 out of the account. The bank was eventually able to recover $600,000, leaving Hillary Machinery, Inc. with a loss of $200,000.
Hillary Machinery complained to the bank and demanded that they cover the losses, and alleged that the bank’s security systems were not adequate.
Strangely, PlainsCapital has responded with a lawsuit, demanding that the courts find that their systems were in fact secure, and that it was a breach of authentication credentials that happened on Hillary Machinery’s computers (likely through Zeus malware infections).
Hillary Machinery has posted an alert about the issue on their website. “Small Business Alert – PlainsCapital Bank Target of Cyber Robbery. Is Your Bank Watching Your Back?”.
