The Daily Journal, California's leading legal newspaper, published a second article by partner Joshua Borger on cyber fraud entitled, "Liability of banks receiving money in a wire fraud scheme." The legal issue in the typical wire fraud scheme centers around liability when a bank receives a wire transfer that identifies a beneficiary by name and account number. While the account number exists, the name on the account refers to someone else. Despite the inconsistency, the bank processes the wire transfer and permits the beneficiary to wire the money out again. The article addresses the circumstances under which the person who lost their money in the scheme can get it back.
The article can be found at: