Fourth Circuit Limits Beneficiary Bank Liability in BEC Schemes, Requires Actual Knowledge
By EsqSocial Corporation 03/04/25
Business email compromise (BEC) fraud, driven by technology and increasing sophistication by criminal organizations, has become a major issue for both consumers and financial institutions. According to a September 2024 publication by the FBI, reported BEC scams have involved over $55 billion in losses during a 10-year period, with the scale of losses accelerating....
By: Holland & Knight LLP