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.
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Why Lorman?
Over 32 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 32 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 December 20, 2018.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Audio & Reference Manual
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- GA CLE 1.5
- HI CLE 1.5
- IL CLE 1.5
- ME CLE 1.5
- MT CLE 1.5
- NJ CLE 1.8
- NV CLE 1.5
- NY CLE 1.5
- VT CLE 1.5
- WA CLE 1.5
- WV MCLE 1.8
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- HI CLE 1.5
- IL CLE 1.5
- ME CLE 1.5
- MT CLE 1.5
- NJ CLE 1.8
- NV CLE 1.5
- NY CLE 1.5
- VT CLE 1.5
- WA CLE 1.5
- WV MCLE 1.8
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
More Program Information
Why Lorman?
Over 32 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
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 32 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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