Event Calendar

Thursday, June 9, 2022

Webinar - ACH Series: Electronic Payment Fraud: When Is Your Institution Liable?

Start Date: 6/9/2022 9:00 AM MDT
End Date: 6/9/2022 10:30 AM MDT

United States 

The tremendous increase in electronic payment fraud has caused staggering losses to financial institutions.  Your institution’s liability for electronic payment fraud will vary depending on the type of fraud, how it occurred, and whether it was a consumer or commercial account.
The varying legalities are mindboggling.  UCC Article 4A permits financial institutions to shift liability to commercial accountholders in certain situations, while Regulation E provides much more protection to consumers.  The Nacha rules make the originating depository financial institution (ODFI) ultimately liable for an unauthorized ACH, but it is difficult to get the ODFI to pay after the return deadlines.  In all situations, however, the law requires financial institutions to use commercially reasonable security procedures. 
This webinar will explain which party is liable for the various types of electronic payment fraud and what can be done to protect your institution from liability in both commercial and consumer situations.


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