Wire Transfer Security: Regulatory Guidance, Risk Management & Monitoring

Jul 24, 2018 03:00pm -
Jul 24, 2018 04:30pm

Event Description

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 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.


  • Review common types of wire fraud
  • We will cover the FFIEC’s recommendations to:
    • Conduct ongoing information security risk assessments
    • Perform security monitoring, prevention, and risk mitigation
    • Protect against unauthorized access
    • Implement and regularly test controls around critical systems
    • Manage business continuity risk
    • Enhance information security awareness and training program
    • Conduct ongoing information security risk assessments
  • Discussion of risk management practices and controls over information technology (IT) and wholesale payment systems networks, including authentication, authorization, fraud detection, and response management systems and processes
  • Ongoing assessments of your institution’s ability to mitigate risks related to information security, business continuity, and third-party provider management
  • Overview of International Fund Transfer requirements

Take-Away Toolkit

  • Sample wire transfer policy
  • Sample wire transfer risk assessment
  • Best practices for online banking users
  • Sample wire log
  • Employee training log

Attendance verification for CE credits provided upon request.

Who Should Attend?

This informative session is designed for Compliance Officers, IT Officers, Operations Officers, and individuals responsible for initiating and verifying funds transfers.

Registration Options:

If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.

Event Type:Webinar &/or On-Demand Link/CD
Early registration ends on Apr 18, 2018.
Regular registration starts on Apr 19, 2018 and ends on May 24, 2018.
Late registration starts on May 25, 2018.
(GMT-05:00) Eastern Time (US & Canada)


Registration Fees
Fee TypeEarlyRegularLate
 Live Webinar
Member Fee: $265.00$265.00$290.00
Non-Member Fee: $400.00$400.00$425.00
 Additional Hookups
Member Fee: $175.00$175.00$175.00
Non-Member Fee: $260.00$260.00$260.00
 Recorded Webinar + Free Digital Download
Member Fee: $345.00$345.00$345.00
Non-Member Fee: $490.00$490.00$490.00
 Both Live Webinar and Recorded Webinar + Free Digital Download
Member Fee: $395.00$395.00$420.00
Non-Member Fee: $600.00$600.00$625.00