Wire Transfers: Establishing Strong Internal Controls
On-Demand Webinar
StreamedJul 16, 2024Duration90 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Funds transfer fraud causes millions of dollars in losses for businesses and financial institutions every year.
In 2023 alone, financial
institutions filed over 400,000 suspicious activity reports regarding incidents
of wire fraud and/or suspicious funds transfers. This informative program will
explain the compliance requirements and the steps you can take to protect your
institution and accountholders!
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Detail requirements of
both domestic and international wires, including:
- Internal controls
- System security
- Identification and authentication
- OFAC screening
- Understand BSA requirements for wires and recordkeeping
- Identify how Reg S, Reg E, Reg J Subpart B, and UCC-4A impact the wire process
- Recognize common types of wire fraud and scams
- Explain rules, notices, and error resolution procedures for international funds transfers
WEBINAR DETAILS
Wire transfers are unique
transactions. This program will cover the regulatory requirements for both
domestic and international wires, provide sample audit procedures, and address
how to identify and respond to possible wire fraud attempts. In addition, it
will identify vulnerabilities in systems and processes that can expose
financial institutions to cyberattacks and increase liability.
This session
will also examine ways to strengthen policies, monitoring, procedures, and risk
assessments. Participants will be provided with tools to support and enhance their
wire transfer compliance program.
WHO SHOULD ATTEND?
This informational
session is designed for operations personnel, BSA officers, compliance officers,
internal auditors, and anyone who handles wire transfers.
TAKE-AWAY TOOLKIT
- Sample wire transfer policy
- Sample wire audit procedures
- Sample wire transfer request form
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Brode Consulting Services, Inc.
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