Ecuador bank lawsuit against Wells Fargo in cyber heist gets go ahead to move forward

Posted on October 20, 2016 • Filed under: Business, Ecuador, United States

Reuters.com/By Nathan Layne

A lawsuit by an Ecuadorean bank alleging that Wells Fargo & Co (WFC.N) is liable for authorizing the transfer of $12 million stolen in a 2015 cyber heist can go forward, a U.S. judge ruled on Tuesday.

The decision by U.S. District Judge Lewis Kaplan in Manhattan was in response to Wells Fargo’s motion to dismiss the lawsuit by Banco del Austro, which sought to hold the U.S. bank responsible for failing to halt the transfers made via the SWIFT network. Read Article

THINKING OF MOVING TO ECUADOR – READ 100 POINTS TO CONSIDER BEFORE MOVING OR RETIRING IN ECUADOR

Share This Story
  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • Add to favorites
  • email