Comerica To Go To Court To Defend A Lawsuit By A Corporate Customer Who Lost Money In Online Account Takeover
Experi-Metal, Inc. had their online business banking account taken over by hackers who stole their password in an email phishing scam. The hackers logged into the company’s online bank account at Comerica bank, and wired almost $2 Million out of the account. Comerica bank was able to recover about $1.5M, but the company was left with over $500,000 of losses from the event.
Comerica refused to reimburse Experi-Metal. So the company sued the bank to recover their funds, alleging that the bank does not have sufficient online security and anti-fraud measures.
Comerica responded by filing a request for a summary judgement to dismiss the lawsuit. A judge has dismissed the request, and the course is now going to court.