Law360, New York ( May 13, 2015, 10:25 AM EDT) -- While cyberattacks pose a threat to all organizations, banks are particularly at risk. Banks not only have to guard against funds being stolen in a cyberattack, but are also at risk with respect to the private data of consumers and commercial entities that they hold. In recent years, cybercriminals have used online banking and payment systems to transfer money directly from bank accounts to their own accounts, typically at a foreign or remote location from which the funds are not easily recoverable and/or traceable. In more provocative cyberattacks, criminals have seized control of bank ATMs and caused cash to be dispensed at predetermined times to waiting recipients in complex and orchestrated cyber heists. One such coordinated cyberattack has resulted in losses estimated to exceed $1 billion.[1]...