Funds transfer fraud causes millions of dollars in losses for businesses. Last year, financial institutions filed over 248,000 Suspicious Activity Reports on incidents of wire fraud and/or suspicious funds transfers. Cyber attackers continue to grow more sophisticated with their schemes and attempts and have increased even more during the recent pandemic. Recent successful cyberattacks on international wire transfers have raised the bar on examiners’ expectations for your security system and risk monitoring of international and domestic wire transfers. Are you prepared?
Wire transfers are unique transactions. In this session we will cover the regulatory requirements for both domestic and international wires, provide sample audit procedures and discuss how to identify and react to possible wire fraud attempts. In addition, we will identify vulnerabilities in systems and processes that can expose financial institutions to cyberattacks and increase liability. We will also examine ways to strengthen policies, monitoring, procedures, and risk assessments. You will be provided with tools to support and enhance your wire compliance program.
The "Wire Transfer Compliance" webinar has been approved for 1 CAMS credit. Credits are redeemable for Live attendance only. Users must connect to the streaming individually and enter their name and email for reporting purposes. Accreditation is valid for one year from the date of the event.
Who should attend
This jam-packed session is designed for BSA Officers, Compliance Officers, internal auditors and any employee who handles wire transfers.
Wire Transfer Compliance has been approved for 1.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email email@example.com. Certification holders must report these credits at https://aba.csod.com.
Wire Transfer Compliance has been approved for 2 CAMS credits. Credits are redeemable for Live attendance only. Credit is for Live attendance only. Accreditation is valid for one year from the date of the event. For questions on certificates, please email firstname.lastname@example.org.