Wire Transfer Compliance, Including International Remittances

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Funds transfer fraud causes millions of dollars in losses for businesses. Last year, financial institutions filed over 44,000 suspicious activity reports (SARs) on wire fraud incidents. Cyber attackers continue to grow more sophisticated and even the largest institutions are vulnerable. Recent high-profile, successful cyberattacks on international wire transfers have raised the bar on examiners’ expectations for international and domestic wire transfer security systems and risk monitoring.

This session will cover the regulatory requirements for both domestic and international wires, provide sample audit procedures, and address how to identify and react to possible wire fraud attempts. It will identify system and process vulnerabilities that can expose financial institutions to cyberattacks and increase liability. Join us to learn ways to strengthen policies, monitoring, procedures, and risk assessments.   


  • Detailed review of both domestic and international wire requirements, including:
  • Internal controls
  • System security
  • BSA requirements for wires and recordkeeping
  • Identification and authentication requirements
  • OFAC screening rules
  • Wire transfer regulations under Reg S, Reg E, Reg J Subpart B, and UCC-4A 
  • Common types of wire fraud and scams
  • International funds transfer rules, notices, and error resolution procedures
  • Risk management practices and controls over IT and wholesale payment systems networks, including authentication, authorization, fraud detection, and response management systems and processes


  • Sample wire transfer policy
  • Sample wire logs
  • Wire transfer audit procedures
  • Sample wire transfer request form
  • Employee training log
  • NEW – Interactive quiz

This informative session is designed for BSA officers, compliance officers, internal auditors, and staff who handle wire transfers.

ABOUT THE PRESENTER – Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Originally recorded on July 18, 2019.

Recorded webinar is available until January 31, 2020.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.