New Twists on Wire Transfer Fraud

With Rayleen Pirnie

New Twists on Wire Transfer Fraud

With Rayleen Pirnie
  • 1 Video
  • 3 Downloads
  • 2.0 hrs
Course description

ICB Credit: 2.5 CRCM

Liability for fraudulent wire transfers really hit the forefront during the early days of Account Takeover. Since then, a number of cases has presented some interesting twists on liability for losses associated with fraud. 


While contracts are an important component of your wire transfer risk management program, they are not the sole consideration. Even with a strong contract, your bank can suffer losses if wires are not handled correctly. In this course we will examine some of the most common and costly frauds using wire transfers, focusing on recognizing red flags. We’ll also explore security solutions that can help banks identify fraudulent transactions, smart security strategies, risky actions, and why insurance agencies often deny wire transfer fraud claims. 

Learning Objectives

  • Identify the red flags of common forms of wire transfer fraud
  • Review sound risk management practices to help minimize exposure
  • Document laws and guidance for wire transfer security
  • Explore commercially reasonable security
  • Record insurance tips



Course Curriculum

Video
120:14
New Twists on Wire Transfer Fraud
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Materials
FFIEC Business Sample
Slides
Questions and Answers
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Instructor

Rayleen Pirnie
Rayleen Pirnie

Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert. Her programs educate financial institutions and businesses on topics ranging from payments fraud to information security. She is the author of several payments risk and fraud blogs geared toward helping organizations recognize threats and protect themselves from loss.

Always interested in Risk Management, Rayleen has supported many notable organizations over the years. She is a member of the International Association of Financial Crimes Investigators, supporting their training programs since 1998. She sat on NACHA’s Risk Management Advisory group for two terms, and assisted with FSISAC’s first CAPP exercise.

For 16 years Rayleen has spoken at national and regional conferences. Recent events include NACHAs Payments Conference, the American Bankers Association Risk Management Forum, the Security Matters annual conference at Murray State University, the Risk Management Association, and the Federal Reserve Bank of Kansas City Risk Management Conference.