Aldrich & Bonnefin, PLC is pleased to invite you and your operations personnel to attend our Webinar on “Check Fraud: Rights, Responsibilities, and Liabilities.” It is no secret that check fraud continues to be a serious problem and financial institutions are struggling to understand their rights, responsibilities, and ultimately liability.
Despite advances in technology which enable new alternative payment systems, customers are still writing checks. While check collection laws have been updated to adapt to the speed of the electronic check collection process, institutions need to understand what those rights are to ensure they are adequately protected.
At this Webinar, we will discuss the application of the UCC’s allocation of liability for forged and altered checks as well as Regulation CC’s warranties and indemnities for checks collected electronically. Our discussion will include an analysis of whether the paying bank or the depositary bank is ultimately liable when fraud occurs. Finally, we will examine the common defenses that may be available.
