Bank of America Sued Over Improper Wire Transfer

Warminster-based O’Neill Bragg & Staffin and its principals filed a lawsuit in federal court in Philadelphia against Bank of America.  The law firm claims that the bank was responsible for damages done after cybercriminals used a Phishing email to trick a member of the firm into transferring more than a half-million dollars to the Bank of China.  The U.S. District Court alleged that Bank of America breached its duty of good faith and committed actions/inactions that constituted negligence.

According to the complaint, Bank of America was notified by the firm several times to stop payment in light of the hack.  Their failure to do so caused a transfer request by the hacker to go thru, resulting in an improper transfer of funds.  How much? $580,000.  The firm wants that amount repaid, plus another $20,000 for fees associated with criminal prosecution in Hong Kong against the alleged attacker, plus additional damages as the court sees fit.  The plaintiffs requested a trial by jury, with the total award amount to be determined at trial.

The law firm is represented by Philip S. Rosenzweig of Silverang, Donohoe, Rosenzweig & Haltzman, LLC located in St. Davids, Pennsylvania.