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“Security procedure” means a procedure established by agreement of a customer and a receiving bank to verify that a payment order or communication amending or canceling a payment order is that of the customer or to detect error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.
Cite this article: FindLaw.com - Wisconsin Statutes Uniform Commercial Code (Ch. 401 to 420) § 410.201. Security procedure - last updated January 01, 2018 | https://codes.findlaw.com/wi/uniform-commercial-code-ch-401-to-420/wi-st-410-201/
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