TD Bank Gets Investment Firm's Phishing Scam Suit Axed

By Emilie Ruscoe (May 25, 2022, 7:31 PM EDT) — TD Bank no longer faces an action seeking to hold it liable for an investment firm’s losses of nearly $300,000 stemming from a sophisticated phishing scam.

In an order filed Tuesday in New Jersey federal court, U.S. District Judge Karen M. Williams dismissed all the claims brought against the bank by privately held Moore Capital Holdings LLC.

In her order, Judge Williams found that the Pennsylvania-based Moore Capital’s claims of negligence and recklessness were barred by a provision of the Pennsylvania Uniform Commercial Code concerning electronic funds transfers. The judge gave the company a month to ask her for permission to rewrite…

Read more

Explore the site

More from the blog

Latest News