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Live Webinar

90-minute live streaming program
  • December 20
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Webinar
Audio & Reference Manual

Planning for UCC Article 4A: eBanking, SWIFT and ACH Fraud Risk Management and Contractual Mitigation

December 20

Gain a better understanding of up-to-date electronic payment rules and developments, learning from recent cases how electronic payment fraud is occurring and what the courts are saying about who is responsible, and identifying safeguards against electronic payment liability.

General benefits include familiarization with up-to-date electronic payment rules and developments, learning from recent cases how electronic payment fraud is occurring and what the courts are saying about who is responsible, and identifying safeguards against electronic payment liability. For example, many bank-customer agreements deal with protections of banks against liability for check fraud in several ways: requirement of prompt notice after receipt of statements; requiring written notice; making statements available electronically; shortened statute of limitations and repose. Recent court decisions have expanded these protections to electronic payments where the protective provisions in the bank agreement cover not only checks, but all types of ‘items’ and debits, including wire transfers and ACH payments from the account. They also have required written notice, not just oral notice of the fraud. For paper check cashers like retailers and currency exchanges, duplicate presentment is a serious issue where the customer has previously deposited his or her check electronically by RDC and then seeks a second payment for the same check by cashing it with a store or check cashing business. The new rules and two recent cases deal with the issue in ways that you will want to know, to protect the party that cashes a paper check from a defense of the drawee bank that returns it unpaid for previous payment from its RDC and image check collection.

Learning Objectives

  • You will be able to recognize electronic payment rules and new developments.
  • You will be able to discuss from recent cases how the fraud is occurring and what the courts are saying about who is responsible.
  • You will be able to identify safeguards against electronic payment fraud and liability.
  • You will be able to review new developments.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Different Payment Systems Discussed and Regimes That Govern Them
  • Wire Transfers Under Article 4A the Uniform Commercial Code (UCC)
  • International Payments Under Swift Rules
  • Automated Clearinghouse Transfers Under Nacha Rules
  • Check Truncation/Electronic Checks
New Developments:
  • FRB Regulations
  • ECCHO/Clearing House Rules
  • New NACHA Rules
  • New Swift Safeguards
Basics of Article 4A for Liability for Fraudulent Wire Transfers
  • Scope and Protections of Article 4A
  • How Situations Under Article 4A Are Handled
  • Elder Abuse
Swift Cases
  • Banco Del Austro
  • Bangladesh Bank
  • Punjabi National Bank
Article 4 and 4A Cases
  • Duplicate Presentment Cases
  • Impersonation Cases
  • Hacking Cases
  • Bank Notice Cutoff Cases and Broad Drafting of What Is an "Item"
  • Update on Regatos and Shortening 1-Year Statute of Limitations
NACHA Situations
Fraud Prevention Measures and Safeguards Against Liability
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 18, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Audio & Reference Manual

  • CAC 0.5
     
  • CBC 0.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, branch managers, loan officers, loan department personnel, credit and collection managers, controllers, compliance officers, auditors, business executives and accountants.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Carter H. Klein

Carter H. Klein

Jenner & Block LLP

  • Partner in Jenner & Block LLP's Chicago office
  • Concentrated his practice on Uniform Commercial Code work, secured and unsecured lending and payments for the past 43 years at Jenner & Block LLP
  • Extensive experience with Article 5 of the Uniform Commercial Code – Letters of Credit
  • ABA UCC Liaison to the Permanent Editorial board of the Uniform Commercial Code
  • Former Chair of both the Letter of Credit Subcommittee and Payments Sub-committee of the ABA
  • Co-wrote three books on the Uniform Commercial Code
  • Honored as Letter of Credit Attorney of the Year in 2018 by the Institute of International Banking Law & Practice
  • J.D. degree, Order of the Coif, First in Class, University of Illinois College of Law; B.A. degree, with the highest distinction, University of Illinois at Urbana-Champagne
  • Can be contacted at 312-923-2950 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404604
Published 2016, 2018
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