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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: UCC
Nevada Bench Trial Applies UCC in Allocating Loss Between Hacked Seller and Duped Buyer
In cybercrime cases, there often are two victims: one a business subject to an email hack and another that transmits funds based on fraudulent wire instructions from the hacked email account. Which party should bear the loss? A Nevada federal … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, INTERNATIONAL, LITIGATION
Tagged BEC, Business Email Compromise, Comparative Negligence, Cybercrime, Cybersecurity, Funds Transfer Fraud, Salvatore Scanio, UCC, UCC Article 4A, UCC Articles 3 and 4, Unauthorized Transfer, Uniform Commercial Code, Wire Transfer Fraud
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American Law Institute/Uniform Law Commission Joint Study Committee Seeks Input on Need to Amend to the UCC for Emerging Technologies
The American Law Institute and the Uniform Law Commission recently formed a joint study committee to examine whether there is a need to further amend the current Revised Uniform Commercial Code (UCC) in light of emerging technologies, such as artificial … Continue reading
Posted in BANKING & FINANCE, CORPORATE, INSURANCE, LITIGATION
Tagged American Law Institute, Artificial Intelligence, Bank Deposits and Collections, Distributed-ledger Technology, Emerging Technologies, Funds Transfers, Ludwig & Robinson PLLC, Negotiable Instruments, Remote Deposit Capture, Salvatore Scanio, Smart Contracts, UCC, Uniform Commercial Code, Uniform Law Commission, Virtual Currency
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