Gaps in a bank's wire transfer fraud program opens the institution to significant risk including financial loss, compliance issues, lawsuits, and more. Gather your team to learn about the most common deficiencies in bank programs - as well as tips to create a program that meets your strategic objectives - all while protecting the bank and its customers from unnecessary risk.

Learning Objectives

• Most common wire transfer frauds affecting customers and banks
• Gaps that expose a bank to financial loss and risk
• Key security controls demonstrating success at detecting fraud
• How to reconcile critical components of a successful program
• Critical contract provisions
• Recent shifts in wire transfer fraud insurance coverage
• Tips for successful customer education

We'll also cover true cases where banks suffered financial losses for failing to properly implement provisions under UCC, and discuss how implementing security controls can strengthen a banks' defenses.

Bonus Materials

By attending, you also receive:

• Guidance and resources list
• Internal training quiz with separate answer sheet
• Wire Transfer Program checklist - top 10 considerations for Community Banks

Sample Questions

Below are some questions from previous sessions that this session can help you answer:

• Our wire transfer contract with business customers states that they are responsible for any fraud losses. Will this protect our bank?
• If we are doing everything recommended by the FFIEC, is our bank safe from loss if a fraud does occur?
• Have there been any recent changes to wire transfer fraud insurance that we should be aware of?
• Are most wire transfer frauds focused at businesses or consumers?