Topic
Wire Transfer
38 published works
Southeast Financial Litigation Monitor
Court Rejects “Transactional Analysis” as Requirement for Commercially Reasonable Security Procedure in Processing Wire Transfers
By Brant Pettis
We continue to see an increase in claims against financial institutions for fraudulent electronic payment orders. Typically these claims involve large sums of money wired to overseas banks and quickly…
Banking, Finance and Securities
Council of the EU Presidency compromise proposals and general approach on MLD4 and revised Wire Transfer Regulation
The Council of the EU has published three notes from the Presidency to Council delegations, namely a: proposed Directive on the prevention of the use of the financial system for…
Banking, Finance and Securities
Latest Presidency compromise proposal on revised Wire Transfer Regulation
The Presidency of the Council of the EU has published its latest compromise proposal on the proposed Regulation to amend and replace the Wire Transfer Regulation. Changes from the previous…
Banking, Finance and Securities
European Parliament to consider revised Wire Transfer Regulation at 2 to 3 April 2014 plenary session
The European Parliament has updated its procedure file on the proposed Regulation to amend and replace the Regulation on information on the payer accompanying transfers of funds. The procedure file…
Other
JURI opinion on revised Wire Transfer Regulation
The European Parliament has published the opinion of its Committee on Legal Affairs (JURI) relating to the proposed Regulation to amend and replace the Regulation on the information on the…
The Contingency
Sucker Law Firm Loses Claim to Undo Wire Transfers
Have you gotten one of those emails that says a non-U.S. outfit has big money coming to it but somehow no one there knows any U.S. lawyers and that the…
Legal Profession Blog
Bank Error Leads To Bar Charges
The North Carolina State Bar has filed a complaint alleging that $81,570.99 was transferred by wire into the bank account of an attorney from the Asheville Savings Bank. According to…
Financial Institutions Law Blog
Absent Actual Knowledge Of An Inconsistency, Banks May Rely On Account Number Specified On An Incoming Wire Transfer
Question: If wire transfer instructions designate a valid account number, but an incorrect beneficiary, may the bank that accepts the incoming wire rely upon the account number? Answer: Yes, assuming…