UCC Update and Check Fraud Update: Loss Allocation and Litigation Trends (On-Demand)

Course Description

According to a TransUnion survey, financial scams cost surveyed U.S. businesses approximately 9.8% of annual revenue—more than $114 billion annually—and check fraud remains a significant risk for companies and financial institutions alike. As fraud schemes evolve, disputes increasingly turn on how losses are allocated under the Uniform Commercial Code.

This program provides an update on check fraud trends and a detailed examination of UCC Articles 3, 4, and 4A, with particular emphasis on judicial interpretation and litigation outcomes. The course focuses on how courts allocate loss, apply negligence standards, enforce contractual defenses, and resolve disputes arising from check fraud.

Principles

• Identify common check fraud schemes addressed in UCC litigation.
• Analyze loss allocation under UCC Articles 3, 4, and 4A.
• Understand customer and bank duties as interpreted by courts.
• Evaluate contractual and statutory defenses in check fraud disputes.
• Apply recent case law to real-world fraud disputes.

Syllabus

1. Fraud Trends and the Current Landscape
2. Types of Check Fraud
3. UCC Framework for Check Fraud
4. Agreements, Procedures, and Forms
5. Litigation Trends and Risk Management
6. Key Takeaways