Litigating Wire Transfer Fraud: UCC Article 4A, BEC Schemes, and the First 72 Hours That Define Recovery

Robert F. Tom, Shareholder | Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Robert F. Tom is a shareholder in the Litigation and Dispute Resolution Group at Baker Donelson, where he focuses on complex commercial litigation and financial services disputes. His practice centers on representing financial institutions, lenders, and businesses in matters involving banking operations, electronic payments, commercial contracts, and fraud-related disputes. Tom regularly advises clients on issues arising from wire transfers, payment systems, and financial transactions, and he has extensive experience handling litigation involving financial institutions and banking regulations. His work includes representing clients in state and federal courts in matters involving commercial disputes, banking liability issues, and operational risks affecting financial institutions.

• Education & Credentials

Robert F. Tom earned his J.D. from the University of Tennessee College of Law and his B.A. from the University of Tennessee. He is admitted to practice law in Tennessee and represents clients in state and federal courts in complex litigation matters involving financial institutions and commercial disputes.

• Recognition & Leadership

Tom has been recognized for his work in litigation and financial services matters within the legal profession. Through his role at Baker Donelson, he contributes to the firm’s litigation practice by advising financial institutions and corporate clients on complex disputes involving banking operations and commercial law.

• Professional Involvement

In addition to his litigation practice, Tom contributes to legal discussions and publications addressing developments in financial services law, banking litigation, and commercial disputes. His work often focuses on legal and operational issues affecting financial institutions, including electronic payments and fraud-related litigation.

• Experience

Tom represents banks, financial institutions, and corporate clients in complex commercial disputes, including matters involving wire transfers, payment processing, fraud allegations, and contractual disputes. His experience includes handling litigation involving financial transactions, advising clients on risk management strategies, and resolving disputes involving banking operations and financial regulations.

Shelli J. Clarkston, Of Counsel | Spencer Fane

Shelli Clarkston is a partner at Spencer Fane LLP who focuses her practice on financial services litigation, regulatory compliance, and complex commercial disputes. She represents banks, lenders, and other financial institutions in litigation involving lending transactions, fraud-related claims, and banking operations. Clarkston advises financial institutions on regulatory and operational issues affecting their business, including risk management and dispute resolution related to financial transactions. Her practice includes representing financial institutions in state and federal court and assisting clients in navigating legal issues arising from banking operations and financial services regulations.

• Education & Credentials

Clarkston earned her J.D. from the University of Kansas School of Law and her B.S. from the University of Kansas. She is admitted to practice law in Kansas and Missouri and represents financial institutions and commercial clients in state and federal courts.

• Recognition & Leadership

Clarkston has developed a reputation for advising financial institutions on complex litigation and regulatory issues affecting the banking industry. Through her work at Spencer Fane, she contributes to the firm’s financial services practice by assisting clients with disputes involving banking operations and commercial transactions.

• Professional Involvement

Clarkston participates in legal and professional organizations connected to the banking and financial services industries. She engages with industry professionals and legal practitioners on developments affecting financial institutions and the regulatory environment governing financial transactions.

• Experience

Her experience includes representing financial institutions and lenders in commercial litigation, financial services disputes, and regulatory matters. Clarkston advises clients on issues arising from banking operations, lending practices, and financial transactions, and she assists institutions in managing litigation risks associated with fraud claims and commercial disputes.

Elizabeth Roper, Partner | Baker & McKenzie LLP

Elizabeth Roper is a partner at Baker McKenzie and a member of the firm’s Cybersecurity, Data Privacy, and Technology practice. She advises multinational organizations on cybersecurity incidents, data privacy compliance, and complex regulatory investigations. Roper regularly counsels clients on responding to cyber incidents, managing data breaches, and navigating global privacy and cybersecurity laws. Her practice involves coordinating cross-border investigations, advising companies on regulatory obligations following cyber events, and helping organizations develop strategies to manage digital risk.

• Education & Credentials

Roper earned her J.D. from Georgetown University Law Center and her B.A. from Georgetown University. She is admitted to practice law in the District of Columbia and Virginia and advises clients on legal and regulatory issues involving cybersecurity, data protection, and technology-related risks.

• Recognition & Leadership

Roper is recognized within the legal community for her work in cybersecurity and data privacy matters. Her leadership within Baker McKenzie includes advising clients on complex cyber incidents and regulatory investigations affecting organizations operating in multiple jurisdictions

• Professional Involvement

She participates in professional organizations and legal initiatives focused on cybersecurity, data protection, and emerging technology risks. Through her work, she contributes to discussions addressing evolving cybersecurity threats and the legal frameworks governing data protection and cyber incident response.

• Experience

Roper advises organizations on cybersecurity preparedness, data breach response, and regulatory investigations related to cyber incidents. Her experience includes leading incident response efforts, coordinating cross-border regulatory engagement, and helping companies address legal risks associated with cyber threats such as business email compromise and other forms of cyber-enabled fraud.

SESSION 1 – Article 4A and the Anatomy of Wire Fraud Litigation | 2:00pm – 2:30pm

Attorneys will examine how wire transfer fraud disputes arise under UCC Article 4A and Regulation J, reviewing common fraud scenarios including payment diversion and compromised email instructions, along with the claims and defenses typically asserted in bank-accountholder litigation.

SESSION 2 – The First 72 Hours After a Fraud: Recovery, Coverage, and Litigation Positioning | 2:30pm – 3:00pm

This session outlines the critical legal steps attorneys must take immediately following a BEC or wire fraud incident, covering bank recall coordination, law enforcement engagement, evidence preservation, and how early response decisions shape litigation posture and affect insurer and bank disputes.

Break | 3:00pm – 3:10pm

SESSION 3 – Business Email Compromise/Fund Transfer Fraud: Identifying and Responding to Current Threat Patterns | 3:10pm – 4:10pm

Attorneys will explore how modern BEC schemes operate, examining threat actor techniques, the industries most frequently targeted, indicators of active payment diversion, and practical response strategies including incident containment, FBI and FinCEN coordination, and organizational risk mitigation.