October 03, 2023
A New Jersey construction company can't recover from its bank $8.5 million the company said it lost to an online spoofing attack, a New York federal court has determined, saying the construction firm conceded the malicious transfers were similar in a key way to legitimate ones.
July 13, 2021
A New Jersey construction company sued Sterling National Bank after it allegedly helped fraudsters wire $8.5 million to unauthorized accounts in China and Singapore, and then refused to take responsibility for its security failures.