Wire Transfer Security: Regulatory Guidance, Risk Management & Monitoring - Details

Session Available from: Jan 1, 2020 12:00 - Dec 31, 2020 12:00
Session Options: Recorded Webinar + Free Digital Download Only, ().
Live Session Date: Jan 1, 2020 - Dec 31, 2020
Time: 12:00 - 12:00
Event description:

Wire Transfer Security: Regulatory Guidance, Risk Management & 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 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. 

Recorded Tuesday, July 24, 2018

Continuing Education:   Attendance verification for CE credits upon request


  • 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 programs
    • Participate in industry information-sharing forums
  • 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

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


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

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.


Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.