Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards
By EsqSocial Corporation 01/05/25
On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH transfers. The denial leaves intact a March 2025 decision overturning the district court’s earlier ruling in favor of the plaintiff....
By: Sheppard Mullin Richter & Hampton LLP