Digital Media Lawyer Blog:  “a Maine construction sued its bank for failing to prevent hackers from transferring some $588,000 in company funds to co-conspirators throughout the U.S.  This case bears watching because it may well test the conclusion of the court in Shames-Yeakel v. Citizens Financial Bank that a bank’s failure to use multi-factor authentication procedures for wire transfers may not constitute a reasonable business practice.  It should also test the effect of a clause in the bank’s contract with the construction company, requiring the company to monitor and immediately report questionable transfers to the bank.”

See also “Maine Firm Sues Bank After $588,000 Cyber Heist.”