Managing the Risks of Payment Systems Subsequent Edition

Managing the Risks of Payment Systems is written for corporate executives, treasurers, funds managers, controllers, auditors, bankers, and their respective legal counsels. This book provides a basic understanding of the risks of the payment systems, how the law allocates those risks among the payor, the payee, and the collecting and paying banks, and how to best manage those risks. As the authors declare in Chapter One: “We didn’t know” is no excuse.

The authors explain how to develop procedures to control the payment system risks and how to maintain and protect the legal rights of the parties to banking agreements. Chapters discuss:

• Checks and the risk of fraud
• Wire transfers and liability for fraud and errors
• The risks in the automated clearinghouse (ACH) system
• Commerce and payments in cyberspace
• How to identify and manage corporate payment system risks, including systems disruptions, backup, and physical security

The authors invite readers to chat at www.paymentsystemsrisks.com.

The risks of payment systems have dramatically evolved new laws, new technologies, new threats combined with the chronic problems of error, fraud, and security. Treasury and banking executives and their counsel ignore these risks at their peril. “We didn’t know” is no excuse.

Managing the Risks of Payment Systems is the up–to–date, practical, authoritatively complete guide to managing the risks of payment systems. These risks are identified and described, and “how to manage” these risks is explained. Some examples are:

• Check fraud problems
• Wire transfers and liability for fraud and errors
• Automated clearinghouse payments (ACH) and its rules
• Who is liable for what?
• Do’s and don’ts for banking agreements
• Commerce and payments in cyberspace security, money laundering, privacy rights
• Payment systems disruptions, backup, physical security

The coauthors are recognized authorities. This book consolidates their professional and practical experience into a comprehensive and reliable desk reference.