WTOL.com - Toledo's News Leader | Bank Won't Cover Customer's $90,000 Computer Fraud Loss

Bank Won't Cover Customer's $90,000 Computer Fraud Loss

TOLEDO -- If you think your bank will bail you out if your accounts gets hacked by cyber crooks, think again. There's a case out of Florida that's bound to have lasting effects all over the world, including right here in Toledo.

A major bank is saying it's not responsible after a customer lost more than $90,000 to computer fraud. The reason: the bank says the victim didn't do enough to protect his computer system from hackers.

According to the New York Times, Bank of America is refusing to back one of its clients. The computers at his business were compromised by high-tech criminals who hijacked his account information. They transferred more than $90,000 overseas.

The victim tried to get Bank of America to reimburse him. But after investigating the situation, the bank decided the man didn't have the proper safeguards in place. Now he's on the hook for the money.

Dick Eppstein of the Better Business Bureau told News 11, "I wouldn't be surprised if banks [and] financial companies make a rule that, look, we're not gonna take responsibility for this. You, as a business or consumer, have to take some of the responsibility for yourself."

Call 11 for Action talked to one Toledo-area bank that confirms customers are now being held more responsible in certain cases.

That means it's time to protect yourself by doing a security update on your computer. Make sure you have a good firewall to keep the bad guys out, and install new versions of anti-virus and anti-spyware programs. And don't overlook your password: use a combination of numbers and letters, and change it often so hackers can't figure it out.