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Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards
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Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards
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. The dispute stems from a 2018 incident in which the company received a spoof email claiming …
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