Don’t the bankers have any responsibility here for releasing money from the account without first checking to see if the request was indeed legitimate? Don’t organizations like this that have a huge web and credit card processing presence have some sort of insurance for cyber fraud?
Oh silly me, that’s right, the bankers and casinos never lose.
And insurance does not cover Acts of God.
This reminds me of our town when years ago $5,000 in cash was stolen from the town hall safe. (The safe was indeed bashed open so they made it at least look like a real burglary.) Anyway, the town had a government fine for $5,000 that they owed and did not want to pay. So they told the Dept of Environmental Protection, that they were so sorry, but the State’s cash was stolen from the safe so that unfortunately, the State was out of luck.
At least the State officials did not let the Town get away with it and the Town’s insurance company eventually footed the bill and the Town (and taxpayers) were stuck with higher insurance premiums from then on.