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Liability › Wire Transfers

Woods Rogers

Depository Institution Not Liable in ACH Fraud Case

Woods Rogers on

On March 26, 2025, the U.S. Court of Appeals for the Fourth Circuit issued an important decision addressing a depository institution’s liability for wire transfer losses resulting from a business email compromise scam....more

Katten Muchin Rosenman LLP

Federal Court Finds Consumer Wire Transfers Are Subject to the Electronic Funds Transfer Act

Katten Muchin Rosenman LLP on

In an apparent departure from decades of jurisprudence acknowledging the exemption of wire transfers from the ambit of the Electronic Funds Transfer Act (EFTA or the Act), one federal district court recently found that a bank...more

Arnall Golden Gregory LLP

Business Email Compromise Fraud: Should the Party Best Positioned to Avoid the Fraud Bear the Loss?

Arnall Golden Gregory LLP on

Business email compromise (“BEC”) occurs when a payee’s business email account is compromised or impersonated. The threat actor, posing as the payee or its representative (e.g., the head of the accounting department), sends...more

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