**Bank of America allowed hackers to steal ** $514,668 by illegally authorizing wire transfers from and to his account and for authorizing a new account application under his name without his authorization.
09/16/20 Update Judge Michael W. Fitzgerald dismissed this case with prejudice. Each party shall bear its own attorneys' fees and costs. Case Terminated.
9/9 19 Update Defendants Bank of America and Gemini Trust Company filed for motion to dismiss, effectively denying all allegations.
Status Update as of 08/09/19 Plaintiff James Chen First Amended Complaint was filed.
Section 17200 et. seq. of the California Business & Professions Code (BPC) defines “unfair competition” in three categories: “Unlawful, unfair or fraudulent business act[s] or practice[s]”; “Unfair, deceptive, untrue or misleading advertising”; and Violations of the provisions of California law starting at § 17500 of the BPC.
Under COM § 11201, “security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or canceling a payment order is that of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.
Mr. Shapiro claims AT&T employees took bribes from hackers and gave them control of his mobile account 4 times over the course of one year. Mr. Shapiro also claims that the hackers then used their control over his mobile account to take control of his personal and digital finance accounts and steal more than $1.9 million from him.
Mr. Terpin claims that AT&T allowed an illegal sim swap to occur after an imposter posing as Mr. Terpin obtained Mr. Terpin’s telephone number from an insider cooperating with the hacker without the AT&T store employee requiring him to present valid identification or to give Mr. Terpin’s required password.
Mr. Williams claims that AT&T employees gave hackers control over his mobile account and phone number through an unauthorized SIM swap, and because of that, the hackers were able to take control of his personal and financial accounts, steal his cryptocurrency, and destroy his business, all resulting in the loss of Mr. Williams’ $2 million investment.
Mr. James Chen claims that AT&T employees gave unauthorized access to hackers in a sim swap which allowed the hackers to steal $764,168.00 from his bank accounts. The hackers then created a new cryptocurrency account, purchased cryptocurrency using the stolen money for themselves.
Ms. McCants claims that AT&T agents were paid to override security measures on her mobile account and allowed an unauthorized user to access her confidential account information. The information accessed then lead to Ms. McCants attack.
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