News & Analysis as of

Fraud Phishing Scams Appeals

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Katten Muchin Rosenman LLP

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

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

Genova Burns LLC

Potential Harm Enough For Class Action to Proceed in Data Breach Litigation

Genova Burns LLC on

The Third Circuit Court of Appeals has given new life to a putative class action suit led by a former employee of a company that suffered a ransomware attack, leading to her sensitive information being released onto the Dark...more

McDermott Will & Schulte

Weekly IRS Roundup November 29 – December 3, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 29, 2021 – December 3, 2021... November 29, 2021: The IRS published a news release...more

Carlton Fields

Phishing for Cybersecurity Coverage: When is a Fraud a “Computer Fraud”?

Carlton Fields on

In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more

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