OFAC wire hold | Attorneys.Media

How to Challenge a Bank’s Refusal to Release a Wire Transfer in New York Under UCC Article 4A

Banking and Investment Law / Attorneys.Media Editorial Staff

A New York bank can face liability for wrongfully refusing to release or execute a wire transfer under UCC Article 4A, often on a tight, notice-driven timeline. Banks frequently cite fraud controls, sanctions screening, or name mismatches as reasons to “hold” funds. This article explains the governing New York rules, immediate steps to take, evidence

How to Challenge a Bank’s Refusal to Release a Wire Transfer in New York Under UCC Article 4A Read More »

How to Challenge a Bank’s Wire Transfer Recall Under UCC Article 4A in New York

A New York bank wire transfer is typically irrevocable once the beneficiary’s bank accepts the payment order under UCC Article 4A—meaning a “recall” often fails unless a narrow exception applies. In practice, banks still attempt recalls due to suspected fraud, OFAC concerns, sender error, or internal compliance flags. This article explains how to challenge a