Tennessee Electric Sues Bank Over Cyber-Heist

InfoSecurity Magazine | Aug 14, 2014

Tennessee Electric Company (TEC Industrial) is suing its bank, TriSummit, after falling victim to a $327,000 cyber-heist. The attackers likely used password-stealing malware, and then logged in to the bank using TEC credentials to siphon the funds.

“This action underscores the increasing focus on responsibility for maintaining end-to-end security for customers,” said Steve Hultquist, chief evangelist at RedSeal Networks, in a comment to Infosecurity.