N.Y. Uniform Commercial Code Law § 4-a-201: Security Procedure

Section 4-A-201. Security Procedure.

"Security procedure" means a procedure established by agreement of a

customer and a receiving bank for the purpose of (1) verifying that a

payment order or communication amending or cancelling a payment order is

that of the customer, or (2) detecting error in the transmission or the

content of the payment order or communication. A security procedure may

impose an obligation on the receiving bank or the customer and may

require the use of algorithms or other codes, identifying words,

numbers, symbols, sounds, biometrics, 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 or requiring a payment order to be sent from a known email

address, IP address, or telephone number is not by itself a security

procedure.