A Missouri court rejected BancorpSouth's attempt to countersue ahacked commercial banking customer, Choice Escrow and Land Title,for losses, damages and legal costs, according toBankInfoSecurity.

In 2010, a fraudulent wire transfer from Choice Escrow's accountat BancorpSouth cost Choice more than $400,000. After Choice suedthe bank in 2010 seeking to recover its losses, BancorpSouth filedits countersuit.

According to BankInfoSecurity, the Missouri court'sinterpretation of a section of the Uniform Commercial Code couldset a precedent for similar cases involving bank cyber frauds.

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