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    Wire Transfer Fraud and Liability

    Thursday, April 26, 2018 - 11:00 AM - 12:30 PM ET
    $149.00
    *
    Wire transfer fraud has been around almost as long as the payment system itself despite numerous federal regulations intended to combat the problem. We all have a role to play in stopping wire transfer fraud before losses rack up. Discussion includes examples of wire fraud, laws that direct liability, and best practices to mitigate risk.

    Overview

    Wire Transfer fraud has been around almost as long as the payment system itself and shows no signs of stopping. In fact, in 2017, we saw renewed efforts to defraud consumers, businesses and financial institutions driving losses to alarming heights.

    This course provides attendees with a brief overview of current forms of wire transfer fraud with an emphasis on identifying and mitigating exposure from multiple perspectives.

    You will learn how to identify the red flags of common forms of wire transfer fraud. We will review sound risk management practices to minimize exposure. We will discuss valuable tips to protect your organization and customers. 

    Covered Topics

    • Wire transfer liability -- examine provisions of the Uniform Commercial Code that designate this liability  
    • Most common and financially devastating forms of Wire Transfer fraud 
    • Risk assessment and enterprise risk management strategies
    • Internal controls 
    • Minimizing exposure to fraud
    • Account controls that are routinely bypassed by criminals
    • Establishing appropriate account controls by client

    Who Should Attend?

    This informative session is designed for anyone in the institution responsible for compliance, including Branch Managers, Risk Managers, Compliance, Audit, Operations, Senior Management and Trainers.

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    Overview

    Wire Transfer fraud has been around almost as long as the payment system itself and shows no signs of stopping. In fact, in 2017, we saw renewed efforts to defraud consumers, businesses and financial institutions driving losses to alarming heights.

    This course provides attendees with a brief overview of current forms of wire transfer fraud with an emphasis on identifying and mitigating exposure from multiple perspectives.

    You will learn how to identify the red flags of common forms of wire transfer fraud. We will review sound risk management practices to minimize exposure. We will discuss valuable tips to protect your organization and customers. 

    Covered Topics

    • Wire transfer liability -- examine provisions of the Uniform Commercial Code that designate this liability  
    • Most common and financially devastating forms of Wire Transfer fraud 
    • Risk assessment and enterprise risk management strategies
    • Internal controls 
    • Minimizing exposure to fraud
    • Account controls that are routinely bypassed by criminals
    • Establishing appropriate account controls by client

    Who Should Attend?

    This informative session is designed for anyone in the institution responsible for compliance, including Branch Managers, Risk Managers, Compliance, Audit, Operations, Senior Management and Trainers.

    Presenter:

    Rayleen M. Pirnie, AAP

    Rayleen is the founder and owner of Missouri-based RP Payments Risk Consulting Services, LLC. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen’s specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years. Rayleen also holds a Bachelor’s of Science in Criminal Justice Administration.