-
Recent Posts
- Virginia Court in Email ACH Funds Transfer Fraud Case Relies on NACHA Rules in Permitting Claims Against Bank
- Nevada Bench Trial Applies UCC in Allocating Loss Between Hacked Seller and Duped Buyer
- Salvatore Scanio’s Article on the NAIC Insurance Data Security Model Law Published by ABA’s Cybersecurity and Data Privacy Committee
- New York Court Rejects Cut Down of UCC Art. 4A’s 1-Year Notice Rule for Unauthorized Funds Transfers
- FinCEN Advisory Highlights Cybercriminals Exploiting COVID-19 Pandemic for Funds Transfer Fraud
Categories
Archives
- January 2021
- December 2020
- November 2020
- September 2020
- August 2020
- July 2020
- June 2020
- April 2020
- February 2020
- January 2020
- July 2019
- June 2019
- September 2018
- August 2018
- March 2018
- September 2017
- August 2017
- May 2017
- April 2017
- March 2016
- January 2016
- December 2015
- June 2015
- May 2015
- July 2014
- June 2014
- March 2014
Category Archives: INTERNATIONAL
Cybercriminals Exploiting COVID-19 Pandemic for Funds Transfer Fraud
In April 2020, the FBI issued four notices detailing the increased level of cybercrime seeking to exploit the COVID-19 (coronavirus) pandemic. Cybercriminals are exploiting the pandemic in countless ways, from preying on human vulnerability to taking advantage of the increased use of online … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged ABA, Account Takeover, ACH Fraud, Business Email Compromise, coronavirus, COVID-19, Cybercrime, Cybersecurity, Dark Web, Data Breach, FBI, FSLC, Funds Transfer Fraud, Insurance Recovery, Malware, money mules, Multifactor Authentication, Robert Ludwig, Salvatore Scanio, Social Engineering, Social Media, SWIFT, UCC Article 4A, Uniform Commercial Code, Wire Transfer Fraud
Leave a comment
Technology and Salvage: Using Social Media in Recovery and Allocating Cybercrime Funds Transfers to Third Parties
Robert W. Ludwig and Salvatore Scanio presented their paper, Technology and Salvage: Using Social Media in Recovery and Allocating Cybercrime Funds Transfers to Third Parties, at the Fidelity and Surety Law 2020 Midwinter Conference of the American Bar Association, Tort … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged ABA, Account Takeover, ACH Fraud, Business Email Compromise, Cybercrime, Cybersecurity, Dark Web, Data Breach, FSLC, Funds Transfer Fraud, Insurance Recovery, Malware, Multifactor Authentication, Robert Ludwig, Salvatore Scanio, Social Engineering, Social Media, SWIFT, UCC Article 4A, Uniform Commercial Code, Wire Transfer Fraud
Leave a comment
Banking Regulators Issue Joint Statement on Heightened Cybersecurity Risk
On January 16, 2020, the FDIC and OCC issued a joint statement (FDIC FIL-3-2020 , OCC Bulletin 2020-5) to remind banks of sound cybersecurity risk management principles. The statement observes, “Cyber actors often use malware to exploit weaknesses in a [bank’s] … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged Business Continuity Plans, Cyber Insurance, Cybercrime, Cybersecurity, Data Breach, Data Protection, Data Recovery, FDIC, Funds Transfer, Identity Management, IT, Malware, Multifactor Authentication, OCC, Risk Management, Salvatore Scanio, Social Engineering, UCC Article 4A
Leave a comment
SWIFT Cybercrime: Who Bears the Loss for Fraudulent Transfers?
In recent years, criminals have launched cyberattacks on the international banking system through the worldwide bank messaging system known as SWIFT — the Society for Worldwide Interbank Financial Telecommunication. The most highly publicized heist involved $81 million in fraudulent transfers … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged Arbitration, Banco Del Austro, Bank Customer Contract, Choice-of-forum, Correspondent Banking, Cybercrime, Deposit Account Agreement, Interbank Liability, Malware, Salvatore Scanio, SWIFT, SWIFT Fraud, UCC Article 4A, Uniform Commercial Code, Wells Fargo Bank, Wire Transfer Fraud
Leave a comment
The Foreign Sovereign Immunities Act: ‘Bedlam’ Redux
In a new article, The Foreign Sovereign Immunities Act: ‘Bedlam’ Redux (Law360 Sept. 22, 2017), Robert Ludwig addresses a legal riddle that has long confounded courts, commentators, and the international law bar, and how the firm solved it. From “Confusion” … Continue reading
Posted in APPELLATE & CONSTITUTIONAL, BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION, TRANSPORTATION
Tagged Constitutional Due Process, Federal Courts, Federal Jurisdiction, Foreign Sovereign Immunities Act, Foreign Sovereign Immunity, FSIA, Long-Arm Jurisdiction, Mass Oversights, Minimum Contacts, OBB Personenverkehr AG v. Sachs, Odhiambo v. Republic of Kenya, Personal Jurisdiction, Robert W. Ludwig, Saudi Arabia v. Nelson, Sovereign Immunity, Specific Jurisdiction, Substantial Contact, Textualism, U.S. Congress, U.S. Supreme Court
Leave a comment