Making Cents of Your Cash Management Agreements
Day 17 of One Month to More Effective Compliance for Business Ventures- Corporate Controller and Business Ventures
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
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
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