Is Your Bank's Cybersecurity Program Adequate? If Not, Your Bank May be Subject to Negligence Claims

Due to the evolving sophistication of criminals, security breaches continue to occur on a regular basis. Banks have already been responding to regulator concerns about cybersecurity risks and the potential liabilities and penalties that could result from failure to have an adequate cybersecurity program. If a cyber breach happens, banks will need to show that they took reasonable care to safeguard their customers’ and employees’ personal information. If not, the banks may be subject to negligence claims.