The Brief: Pass the Electronic Buck – Allocating the Risk of Unauthorized EFTs
June 24, 2025
In an era where $12.5 billion in cybercrime losses were reported in 2023 alone, understanding the legal landscape around unauthorized electronic funds transfers (EFTs) is more critical than ever. In an article co-authored for The ABA’s The Brief, Eckert Seamans Member Michael Graziano and Nicholas Moraites, assistant vice president, claims, in Great American Insurance Company’s Fidelity/Crime Division, unpack the complex web of liability that arises when EFTs are compromised—highlighting how courts are navigating the intersection of contract law, federal regulations, and evolving fintech ecosystems.
Read the article here.