Banking Operations Expert for Professional Negligence Case

Case Description:

A banking operations expert was needed for a white collar crime case alleging professional negligence and breach of fiduciary duty. An employee of a large payroll corporation was allegedly embezzling money by transferring funds from his employer's corporate account to his personal bank account. The payroll company asserted that the bank should have recognized the unauthorized electronic funds transfers (EFT) and alerted them to the embezzlement.

IMS ExpertServices was asked to locate a banking operations expert familiar banking industry standards, specifically what is reasonable and customary with regard to handling customer accounts.

Experts Presented:

  • Financial Services

    This financial services expert has overseen all aspects of banking operations including cash management, trust and pension services, letters of credit, international services including foreign currency, interest rate instruments and investment services. His banking clients include companies involved in commercial, international, real estate, distribution, wholesale and retail commercial activities. He is an experienced expert witness and has worked on cases involving loan commitments and loan defaults, cash management, bank overdrafts, bank procedures, and bank operations. IMS Reference #1216965

  • Bank Operations

    This expert in banking operations has more than 29 years of experience as a banker, consultant and expert witness. He has held positions responsible for regulatory compliance, bank operations, cash management and branch administration. He has written numerous policies and procedures relative to funds transfer, NOW and DDA account processing and the Bank Secrecy Act, which includes compliance with Know Your Customer regulations. He is an experienced expert witness. IMS Reference #1216987

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Industry: All, Banking