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Fraudulent Transfers Fraudulent Wire Transfers

White & Case LLP

COVID-19 crisis in France: beware of fraudulent international wire transfers

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The COVID-19 crisis has triggered a resurgence of fraudulent international wire transfers. Companies and banks should therefore be extra vigilant when dealing with international wire transfer orders....more

Hinshaw & Culbertson - Insights for Insurers

Computer Fraud and Funds Transfer Fraud Coverages Not Triggered by Social Engineering Phishing Scam

A Mississippi federal district court became the latest to rule that Computer Fraud Transfer and Funds Transfer Fraud coverages were not applicable to losses resulting from an email phishing scam. In Miss. Silicon Holdings,...more

Jones Day

Second Circuit Rules that Bankruptcy Code’s Fraudulent Transfer Recovery Provisions Can Reach Foreign Transferees

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The ability of a bankruptcy trustee to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law. However, when an otherwise avoidable transfer by a U.S. entity takes place outside the U.S. to a...more

Jones Day

Debate Intensifies as to Whether the Bankruptcy Code’s Avoidance Provisions Apply Extraterritorially

Jones Day on

The ability of a trustee or chapter 11 debtor-in-possession to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law. However, when a transfer by a U.S. entity takes place outside the U.S. to...more

Jones Day

Yet Another Ruling Deepens the Divide on Whether the Bankruptcy Code’s Avoidance Provisions Apply Extraterritorially

Jones Day on

The ability to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law. However, when a transfer by a U.S. entity takes place outside the U.S. to a non-U.S. transferee—as is increasingly common...more

McGuireWoods LLP

8th Circuit: Financial Institution Bond Provides Coverage for Fraudulent Wire Transfers

McGuireWoods LLP on

With policyholders facing increased losses from hacking and business email compromise, insurers are fighting hard to escape their obligations under financial institution bonds, crime policies and cyber insurance policies. In...more

Patterson Belknap Webb & Tyler LLP

Round Two: SWIFT Reports Another Bank Attack

For the second time this year, SWIFT is reporting another cyber-attack on a commercial bank. In a notice issued this morning, SWIFT said that attackers with a “deep and sophisticated knowledge of specific operational...more

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