Who Pays the Piper? Navigating Liability in Wire and Digital Payment Fraud Cases (OnDemand)

 

Description:
This program will provide an overview of the civil legal landscape addressing the rapidly proliferating scourge of wire and digital payment fraud. The program will address the current most common types of fraud including social engineering, business email compromise, and imposter fraud. The program will then address the common law and statutory schemes that govern the allocation of loss amongst counterparties when funds are lost to a malicious third-party actor. Specifically, panelists will cover the unsettled case law on liability between businesses, insureds/insurers, and banks/customers. Speakers will also discuss the applicable section of the Uniform Commercial Code and the Electronic Funds Transfer Act, and best risk management and insurance coverage practices to prevent becoming a victim or limit damages. This CLE should be of interest to both in-house and law firm practitioners interested in loss mitigation and recovery for their companies and clients.