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Electronic Fraud: How to Minimize Financial Risk and Allocate Losses
Webinar
11 AM CT
Presenter: Clayton Gillette
Duration: 1 hour
Pricing:
$299 - Live, Download or CD
$249 - (for Affiliation Members)
$349 - Live + Download or Live + CD
Electronic fraud is rapidly replacing the traditional forms of payments fraud associated with checks. Currently topping the list is the unauthorized use of credit cards or debit cards but new vulnerabilities from more recent consumer and business payment systems such as ACH and wholesale wire transfer facilities are becoming more obvious. Financial risks also are increasing from the electronic processing of items, from remote deposit capture, and from unauthorized individuals obtaining bank customer information from retailer databases. The newest set of risks comes from customers who are defrauded into electronically transferring funds from their accounts and then the bank demands reimbursement.
Join Clayton Gillette and learn about the source of these risks, how current law allocates financial losses when fraud does occur, and how you can minimize financial risk. This webinar covers:
- Unauthorized wire transfers
- “Reasonable security procedures” for authenticating wire transfers
- Name/number fraud
- Bank responsibility for customer transfers resulting from e-mail scams
- Fraudulent ACH transfers
- “Misuse” versus “unauthorized” use of debit and credit cards
- Liability for altered checks processed through remote deposit capture
- Warranties and liabilities under the Check 21 Act
- Banks’ ability to recover from retailers who retain customer card information
BIO: Clayton Gillette
Clayton P. Gillette is a co-author of Payment Systems and Credit Instruments, a leading casebook on this subject, and the author of the Deposit Fraud Protection Manual and of multiple articles concerning payments law and other areas of commercial transactions. He is the Max E. Greenberg Professor of Contract Law at New York University School of Law, where he teaches commercial law. Professor Gillette has also served as an expert witness and consultant in matters involving the use of fraudulent negotiable instruments.
Professor Gillette received his B.A. from Amherst College magna cum laude in 1972 and his J.D. magna cum laude in 1975 from the University of Michigan School of Law. After graduation from law school, Professor Gillette served as a clerk to the Honorable J. Edward Lumbard of the United States Court of Appeals and was associated with the Manhattan office of Cleary, Gottlieb, Steen and Hamilton. He has served on the faculty of the University of Virginia, and prior to that was Associate Dean, Professor of Law, and Warren Scholar in Municipal Law at Boston University School of Law. He has also served as a visiting professor of law at New York University School of Law and the University of Michigan School of Law.
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