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Uniform Commercial Code (UCC) › Liability

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

Holland & Knight LLP

Fourth Circuit Limits Beneficiary Bank Liability in BEC Schemes, Requires Actual Knowledge

Holland & Knight LLP on

Business email compromise (BEC) fraud, driven by technology and increasing sophistication by criminal organizations, has become a major issue for both consumers and financial institutions. According to a September 2024...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

Adams & Reese

As U.S. Warehouse Occupancy Hits All-Time Highs, What are the Top Legal Considerations in Contracts?

Adams & Reese on

Warehouse occupancy across the United States hit an all-time high of 96.7% in 2022, and is projected to hit 96% by the end of 2023, according to the research department of Prologis, Inc., a San Francisco-based real estate...more

Sheppard Mullin Richter & Hampton LLP

“Bank For Your Buck” – The Legal Implications of Banksy’s Destruction of “Girl with Balloon”

Sheppard Mullin Richter & Hampton LLP on

For centuries, artists have been celebrated for pushing boundaries and shaping how society should view art. As members of the audience, we rely on artists to expose us to these unique dimensions of thought and we return the...more

BCLP

The Same Old Wrongdoer Blues: Creative Fraud Leaves Employer Holding the Bag for Fraud on its Account

BCLP on

Articles 3 and 4 of the UCC provide a roadmap for addressing how to allocate liability for the various mistakes, embezzlements and forgeries that have followed the payments system since its invention several centuries ago....more

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