By Bill Wichert (October 7, 2021, 3:07 PM EDT) — TD Bank NA has told a New Jersey federal court that it cannot be held liable for the nearly $300,000 that private equity firm Moore Capital Holdings LLC lost in a cyber fraud scheme, saying the bank followed “commercially reasonable security procedures” after a company employee gave confidential information to hackers.
The financial institution called on the court Wednesday to throw out the Pennsylvania-based company’s amended complaint over a series of fraudulent wire transfers on April 29, saying the business is improperly seeking to blame the bank for how its employee entered his credentials on a website designed to look like…
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