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Funds Transfer Case Update: An Overview of Recent Cases Related to Funds Transfers Fraud
Overview
Date
02:00 PM - 02:50 PM (0 hours 50 minutes)
Tuesday, April 29
Track
Cybersecurity & Risk
Event
In-person
This session provides an update on recent fraud statistics published by the FBI, an overview of Article 4A of the Uniform Commercial Code, and a review of recent cases analyzing funds transfer issues and fraud. Speakers review who bears the risk of fraudulent or unauthorized funds transfers arising from business email compromise, stolen user credentials, and employee or business partner theft. Additionally, they will explain what constitutes a “commercially reasonable” security procedure and its true meaning, as well as acceptable and unacceptable methods for user authentication and verification of funds transfers in an ever-changing technological landscape.