KnowBe4 Analyzes Patco Case: Business at a Loss When Judge Protects Bank in $588,000 Cyberheist
IT Security Expert Stu Sjouwerman of KnowBe4 Warns That Patco Case May Set Precedent, Leaving Businesses Financially Responsible When Employees Click on Phishing Emails Clearwater, Florida (PRWEB) September 01, 2011 After finding itself the victim of a $588,000 cyberheist, Patco Construction suffered another loss when a Maine district court judge ruled in favor of the bank and denied Patco’s suit to recover its losses (Patco Construction Company, Inc., v. People’s United Bank d/b/a Ocean Bank).(1) The outcome of this case underscores the warnings made by IT security expert Stu Sjouwerman (
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