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Top 5 Compliance Trends for 2011 – Part 5
As I write this, the only case to go to trial of a Bank suing the Merchant over account takeover losses is awaiting the jury’s decision. The result may redefine the liability, and by definition the roles and responsibilities, of both the financial institution and the merchant when it comes to securing electronic transactions. It…
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Corporate account takeovers – responsibility vs. liability
In all remote merchant services (RDC, remote ACH, remote wire origination, etc.) there are three main parties responsible for securing the transaction:
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Reg. E reform and RDC
I recently ran across an excellent post on this topic regarding the fact that even though Reg. E does not currently regard corporate and municipal accounts the same as consumer accounts, they do, in fact, pose the same risk to the financial institution. As the original post on Krebs’ site points out, why should the…
