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Financial Institutions › Phishing Scams › Appeals

Katten Muchin Rosenman LLP

The More You Know Can Hurt You: Court Rules Financial Institutions Need 'Actual Knowledge' of Mismatches for ACH Scam Liability

Katten Muchin Rosenman LLP on

On March 26, the US Court of Appeals for the Fourth Circuit issued a decision that has important ramifications for banks and credit unions that process millions of Automated Clearing House (ACH) and Electronic Funds Transfer...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

Orrick, Herrington & Sutcliffe LLP

Does Your Insurance Cover Phishing Attacks and Business Email Compromise? The Uncertainty Continues…

Orrick, Herrington & Sutcliffe LLP on

The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more

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