Wire transfer security webinar to cover regulatory guidance, risk management and monitoring

Funds transfer fraud and account takeover cause millions of dollars in losses for businesses. Last year, financial institutions filed nearly 39,000 Suspicious Activity Reports on incidents of wire fraud. Cyber attackers continue to grow more sophisticated with their schemes and attempts. Even the largest institutions are vulnerable. Recent high-profile, 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.

In this session on Thursday, July 26, from 3:00 PM to 4:30 PM, we will identify vulnerabilities in systems and processes that can expose financial institutions to cyberattacks and increase liability. We will examine ways to strengthen policies, monitoring, procedures, and risk assessments. Learn about the latest scams and what best practices could mitigate your financial institution’s risk.

After participating in this webinar, attendees will receive: a sample wire transfer policy; sample wire transfer risk assessment; best practices for online banking users; sample wire log; employee training log; and a quiz you can administer to measure staff learning and a separate answer key.

This webinar is offered through the League’s partnership with the CU Webinar Network. For more information or to register, please click here.