See No Evil – NY AG Letitia James Cracks Down on Banks Refusing to Foot the Bill for Consumer Phishing and Fraud

**Executive Summary:** This article reviews the evolution of electronically enabled financial fraud (phishing, vishing, business‑email compromise, SIM swapping, social engineering) and argues that banks — not consumers — should bear liability under the Electronic Funds Transfer Act (EFTA); it highlights a New York Attorney General lawsuit alleging Citibank required customers to sign "hold harmless" affidavits, treated consumer transactions as commercial to deny reimbursement, and failed to implement adequate controls to detect and stop unauthorized large wire transfers.