Middle East Banks Probe Liability in Cyber-Heist

May 12, 2013

Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based Bank of Muscat lost $40 million and United Arab Emirates-based National Bank of Ras Al Khaimah PSC lost $5 million in the global heist, U.S. prosecutors said

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