The Alarming State of Wire Transfer Fraud

Wire transfer fraud has often rendered businesses and financial institutions helpless despite their best efforts to combat the threat. This training program will identify the red flags of common forms of wire transfer fraud and help understand how you can isolate your organization and help combat fraud. The webinar instructor will also review sound risk assessment practices to help minimize exposure.

Why Should You Attend:

Wire transfer fraud has been around almost as long as the payment system itself and shows no signs of coming to an end. In fact, in 2015 and 2016, there have been renewed efforts to defraud consumers, businesses and financial institutions driving losses to alarming heights. This course will provide attendees with a brief overview of current forms of wire transfer fraud with an emphasis on identification and mitigating risks.

Learning Objectives:

• Identify the red flags of common forms of wire transfer fraud
• Isolate how your organization can help combat fraud
• Review sound risk assessment practices to help minimize exposure
• Document valuable tips to protect your organization and customers
• Record valuable resources for consumers, businesses and financial institutions

Areas Covered in the Webinar:

Red flags of the most common forms of wire transfer fraud, including:

• Advance fee frauds
• Account takeover
• Romance scam
• Grandparent scam
• Phishing
• And more
• Security expert findings on the techniques criminals use to initiate these frauds (i.e. data harvesting, data breaches, etc.)
• Incorporating wire transfer fraud into your organization’s risk assessment
• Tips
• To educate consumers
• How the frontline/customer service/account officer can help
• Handling requests you suspect are fraudulent/a scam
• Valuable resources for staff

Who Will Benefit:

• Frontline/Customer Service Personnel
• Internal Auditors
• Risk Officers
• Director of Security
• Compliance Professionals
• Operational Risk Professionals
• CFO/Finance Professionals
• CPAs
• Audit Committee Members
• Operational Risk Managers
• Departmental Managers
• IT
• Fraud Investigators
• Trainers
• Branch Managers
• Wire Transfer Processors