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State law and wire fraud liability

Answered by: 

If we are doing everything recommended by the FFIEC, is our bank safe from loss if a fraud does occur?

Not necessarily, because many states have additional requirements found in the Uniform Commercial Code, and in some states, have additional obligations under both consumer protection provisions and breach of warranty claims. So, start with the FFIEC and regulator requirements, then make sure you have addressed any additional state obligations.
Learn more about Rayleen Pirnie
Wire Transfer Fraud Prevention Programs

First published on 05/05/2019

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