Topic
Wire Transfer
38 published works
Iowa Cybersecurity Law Blog
Attorney John Lande Covers Deepfake Wire Transfers in CLE Course
By srubadickinsonbradshaw-com-dickinson-bradshaw
Who eats the loss when a deepfake authorizes a wire transfer: the customer or the bank? Banking and cybersecurity attorney John Lande of Dickinson Bradshaw tackles this topic under UCC…
French Law .Blog
Wire transfer fraud: the principle of non-interference on the part of the bank justifies a strict interpretation of the concept of ‘apparent anomaly’,
A bank that executes a wire transfer order for investment purposes acts merely as a payment service provider. As such, it is under no obligation to interfere with the appropriateness…
Consumer Financial Services Law Monitor
Fourth Circuit Holds UCC Article 4A Requires Beneficiary Bank’s Actual Knowledge for Wire Misdescription Liability in Business Email Compromise Scam Case
By Brooke Conkle, Jon S. Hubbard, Heryka Knoespel, Michael E. Lacy, Stephen Steinlight, Mary C. Zinsner
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…
Security, Privacy and the Law
Minimizing Risk and Liability from Man-in-the-Middle Attacks (or, How to Keep Your Company’s Wire Transfers from Going Awry)
Given the recent failures of Signature Bank and Silicon Valley Bank, we know clients are looking to set up new banking relationships and moving money around, especially by wire transfers. …
Gravity Legal Blog
The Dangers of Accepting Wire Transfers at Your Law Firm
By Dan Lear
Wire transfers are a common method of accepting payment for law firms, but they can be risky for both your firm and your clients. This article outlines the dangers and…
Iowa Cybersecurity Law Blog
“Bank Error in Your Favor” Only Works in Monopoly
By lhulsebusdickinsonlaw-com-dickinson-mackaman-t
As modern software has made complex transactions easier to execute, it has also enabled banks to make enormous mistakes with a single click of a mouse. A federal district court’s…
Herrick Restructuring Review
Revlon Lenders Must Return $500 Million Mistaken Wire Transfer to Citibank, N.A.
On September 8, 2022, the Second Circuit held that lenders to Revlon, Inc., a global cosmetics company, must return approximately $500 million to Citibank N.A., which Citibank had inadvertently paid…
Consumer Financial Services Law Monitor
No $500M Windfall for Lenders in Mistaken Wire Transfer Case
By Mary C. Zinsner, Sarah Siu, Susan Flint
On September 8, Second Circuit ruled that lenders must return $500 million to Citibank, which had mistakenly wired the funds to them. The decision vacates a 2021 Southern District of…
CCN Mexico Report™
Important Supreme Court decision on wire transfers
In May 2021, the First Chamber of the Mexican Supreme Court of Justice (the "SCJN" for its initials in Spanish), in decision 206/2020 resolving prior contradictory rulings, held that electronic…
Iowa Cybersecurity Law Blog
After a Wire Transfer, That’s Not Your Money Anymore
By John Lande
A daily stream of headlines highlights cybersecurity incidents affecting both large and small organizations. In the face of this coverage, most organizations have learned the importance of cybersecurity, and taken…