Criminalizes failure to return erroneous person-to-person electronic payments following proper notification.
New Jersey S1125 amends the state's theft laws to include the failure to return erroneous electronic payments between individuals as theft. If an individual receives an electronic payment that was delivered under a mistake as to the nature or amount of the transfer or the identity of the recipient, and they were notified that the payment was erroneous, they must return the funds to the sender within 30 days. Failure to do so constitutes theft. This act takes effect immediately.
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