Unintended Consequences

Publication Title

Los Angeles Lawyer

Document Type

Popular Press

Publication Date

2023

Abstract

A recent Restatement of the Law of Consumer Contracts relies upon caselaw containing not a single instance of touching or tapping on a tablet or smartphone screen.

In recent years, financial institutions have used advances in technology to make dramatic changes in the consumer payment landscape and electronic commerce. Consumers have largely welcomed new payment services such as to peer-to-peer payments (P2P), new devices—such as smart phones—to make payments, and new types of “money,” such as cryptocurrencies and other blockchain assets. However, when the financial services industry develops a new product or service, fraudsters inevitability find ways to scam consumers. With their skills and sophistication, fraudsters have specifically targeted some payment products such as P2P.

Comments

External Links

Lexis

Recommended Citation

Mark E. Budnitz, Unintended Consequences, 46 Los Angeles Lawyer 28 (2023).

Volume

46

First Page

28

Last Page

33

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