This session will provide an overview of Article 4A of the Uniform Commercial Code (UCC 4A), including what UCC 4A is and when it applies. We will cover:
- The scope and applicability of UCC 4A (including when it does not apply, such as for ACH debit entries)
- The protections and risk allocations the law provides for originators, beneficiaries, and banks
- The core responsibilities of each party involved in a wire funds transfer
- How authorization, security procedures, and liability are handled under UCC 4A
- A review of recent case law shaping current interpretations of UCC 4A.
Whether you are new to UCC 4A or seeking an update on key developments, this session will equip you with practical insights into how the law allocates risk in wire transfers - and what financial institutions and their clients must do to protect themselves.