We continue to see an increase in claims against financial institutions for fraudulent electronic payment orders. Typically these claims involve large sums of money wired to overseas banks and quickly collected by unknown individuals. Under U.C.C. Section 4A-204, a bank will be liable for such payment orders unless it falls within one of two exceptions.
Brant is a Partner in Balch & Bingham’s Gulfport, MS office and represents businesses in a variety of litigation matters. Brant's practice focuses on commercial disputes and financial services litigation, including breach of contract and shareholder disputes, and the defense of individual and class actions for statutory and state law claims, including the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, fraud and identity theft.