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How can this be legal? Surely they have a duty of care to their customers.
by bb123 7y ago
How can this be legal? Surely they have a duty of care to their customers.
- elliekelly 7y agoIt's an interesting and unsettled area of the law. It gets even more interesting when the perpetrator behind the cybersecurity incident is a state because, some have argued, it constitutes an "act of war" which has long been considered covered by a force majeure. Though FWIW I think eTrade's stance is here is very aggressive and I'm surprised it hasn't caught the attention of regulators yet. If financial institutions can be allowed to disclaim any and all responsibility for cybersecurity then our whole system will be in serious trouble.