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 transfer compliance program.
What You’ll Learn
- Domestic and international wires requirements
- Proposed changes to BSA requirements for wires and recordkeeping
- Review of current types of wire fraud and scams
- Rules, notices, and error resolution procedures for International Funds Transfers
- Risk management and controls over information technology
Who Should Attend
This informational session is designed for Operations personnel, BSA Officers, Compliance Officers, internal auditors, and any employee who handles wire transfers.