LexisNexis ( May 3, 2018, 10:41 AM EDT) -- In our prior story, we reported on a recent California wire transfer decision that excused the beneficiary's bank from common-law negligence claims, based on displacement by the UCC rules. The bank prevailed because UCC 4A-207 allows a beneficiary's bank to accept wire transfers "by the numbers" so long as it doesn't have actual knowledge that the beneficiary's name and account number refer to different persons. The drafters of the UCC allow this "safe harbor" because of the need to promote automation in the processing of payment orders....