Unauthorized and Erroneous Payment Orders

Unauthorized and Erroneous Payment Orders

The question of how best to allocate losses arising in funds transfers due to fraud or error is important to banking institutions as well as funds transfer customers. This article examines the treatment of such losses by Article 4A. Particular attention is devoted to the implications which Article 4...

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Bibliographische Detailangaben
Veröffentlicht in:The Business lawyer 1990-06, Vol.45 (3), p.1425-1445
1. Verfasser: French, J. Kevin
Format: Artikel
Sprache:eng
Schlagworte:
Bank accounts
Bank fraud
Banks
Business orders
CHIPS
Customers
Errors
Federal Reserve Wire Network
Financial institutions
Fraud
Payments
Retail banking
Risk of loss
Securities fraud
Security
Transfer of funds
Uniform Commercial Code-US
Wire transfer
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Beschreibung
Zusammenfassung:The question of how best to allocate losses arising in funds transfers due to fraud or error is important to banking institutions as well as funds transfer customers. This article examines the treatment of such losses by Article 4A. Particular attention is devoted to the implications which Article 4A has for the manner in which funds transfers will be conducted and in which disputed losses will be resolved in the future.
ISSN:0007-6899
2164-1838