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TriSummit Bank Sued by Industrial Contractor over $327,804 Cyberheist

14
Aug
2014

The TriSummit Bank stands accused of negligence and breach of contract by TEC Industrial (formerly known as Tennessee Electric Company Inc.) in an cyberattack that saw $327,804 / 245,000 transferred into the accounts of the criminals.

The incident occurred on May 8, 2012, according to the complaint filed by TEC Industrial to a Tennessee court, provided by security blogger Brian Krebs, who also alerted the company of the possible heist two days later, leading to its discovery.

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