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Fraud › Wire Transfers › Uniform Commercial Code (UCC)

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

Troutman Pepper Locke

Fourth Circuit Holds UCC Article 4A Requires Beneficiary Bank’s Actual Knowledge for Wire Misdescription Liability in Business...

Troutman Pepper Locke on

On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed a district court’s decision holding a credit union liable for a wire transfer in a business email compromise scam case where the credit union lacked...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

Burr & Forman

Bank Liability for Business Email Compromises and Fraudulent Payments

Burr & Forman on

While at your place of business, you receive an email from a trusted source with an established vendor, notifying you that the vendor’s bank account information has changed. Do you note the change in your business records and...more

Troutman Pepper Locke

WTF?! - Wire Transfer Fraud Litigation

Troutman Pepper Locke on

Threat actors have recently and significantly increased efforts to defraud organizations and individuals through business email compromise (BEC). In BEC and related scams, the threat actors trick unsuspecting targets into...more

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