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Company Reaches Settlement on Online Account Hack (BankInfoSecurity)
Village View Escrow settled with its bank after cyberthieves stole $400,000 from its account in 2010.
Village View Escrow, a Riverside, Calif. escrow company, settled a long-running dispute with its bank, Professional Business Bank, over a 2010 incident in which hackers drained $400,000 from the company’s bank account. The amount of the settlement was not disclosed, but it reportedly covers all of the money Village View lost in the theft, plus interest.