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Fraud › Know Your Customers › Regulatory Requirements

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

Sheppard Mullin Richter & Hampton LLP on

On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

Wiley Rein LLP

FCC Proposes First of its Kind $4.5 Million Penalty on Voice Provider for Alleged Know-Your-Customer Failures

Wiley Rein LLP on

On February 4, 2025, the Federal Communications Commission (FCC or Commission) released a Notice of Apparent Liability for Forfeiture (NAL) against voice service provider Telnyx LLC (Telnyx) for alleged violations of the...more

Ankura

The Evolution of KYC: Exploring Perpetual Know Your Customer (PKYC)

Ankura on

Know Your Customer (KYC) is a fundamental process used by Financial Institutions (FIs) to verify the identities of their customers and assess the associated financial crime risk. Its primary goal is to prevent money...more

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