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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
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Tag Archives: Insurance Recovery
Receiving Bank in Ohio Funds Transfer Case Allowed Questionable Damages Offset
In a new decision in an ongoing account takeover case involving fraudulent ACH transactions, the district court, after denying cross-motions for summary judgment, ruled that should the bank lose at trial, it could set off any damages with defense costs. … Continue reading
Posted in CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged Account Takeover, ACH Fraud, Attorney’s Fees, Cybercrime, Cybersecurity, Funds Transfer Fraud, Insurance Recovery, Malware, Multifactor Authentication, Salvatore Scanio, Setoff Defense, UCC Article 4A, Uniform Commercial Code, Wire Transfer Fraud
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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
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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
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