Event Detail

Event Description

Funds transfer fraud causes millions of dollars in losses for businesses. Last year, financial institutions filed over 248,000 Suspicious Activity Reports on incidents of wire fraud and/or suspicious funds transfers. Cyber attackers continue to grow more sophisticated with their schemes and attempts and have increased even more during the recent pandemic. Recent 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. Are you prepared?

Wire transfers are unique transactions. In this session we will cover the regulatory requirements for both domestic and international wires, provide sample audit procedures and discuss how to identify and react to possible wire fraud attempts. In addition, we will identify vulnerabilities in systems and processes that can expose financial institutions to cyberattacks and increase liability. We will also examine ways to strengthen policies, monitoring, procedures, and risk assessments. You will be provided with tools to support and enhance your wire compliance program.

Program Highlights

• Detailed discussion of requirements of both domestic and international wires, including:
  • Internal Controls
  • System security
  • Bank Secrecy Act requirements for wires and recordkeeping
  • Identification and authentication requirements
  • OFAC screening rules
• What, Reg S, Reg E, Reg J Subpart B and UCC-4A have to say about wire transfers
• Review of common types of wire fraud and scams
• International Funds Transfers: rules, notices and error resolution procedures
• 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

*Tools to be provided to support and enhance your wire compliance program

Who Should Attend?

This jam-packed session is designed for BSA Officers, Compliance Officers, internal auditors and any employee who handles wire transfers.

Instructions

Live Plus Five - $265
Register for the live event and get five days access to the OnDemand Playback. You'll have opportunity to ask questions during the presentation and be free to review the content for the next five business days. Registration also includes links to presenter materials, handouts, and pdfs.

OnDemand Recording Only - $295
Includes a weblink for unlimited viewing for 6-months after the date of the webinar as well as a link to handouts. Does not include live session.

CD-ROM and Hardcopy Handouts - $345
CD-ROM plus Hardcopy Handouts. Does not include live session.

Live Plus Six - $365
Attend live; includes six months access to OnDemand playback. Combine the advantages of live attendance with an unlimited number of replays for the next six months.

Premier Package - $395
Includes all three options above. Live session, OnDemand Weblink, and CD-ROM plus Hardcopy Handouts.

Additional Locations
Want your branches to participate? Facilities within your organization will be able to participate without the travel costs of coming to one location.

Webinar (03/02/21 1:30PM - 3:00PM)

Online Registration