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Course description

According to the FBI, U.S. businesses have already lost an estimated $180 million to ONE form of wire fraud alone; many of those businesses didn't survive the loss. In mid-2015, a San Jose, California-based networking equipment company disclosed it lost $46.7 million through a scam where the company was tricked into unwittingly wiring money to fraudsters.

Criminals are constantly evolving their scams to circumvent your expectations and controls. This course will arm you with vital information on the latest scams fraudsters are using to rob businesses -- and their banks -- of their assets. From business email compromise to supply chain fraud, every business and bank is at risk as these crafty tricksters are looking for a big payday from your bottom line.

Join us to:

  • Learn how the most common forms of wire fraud occur
  • Identify sound business practices to thwart these common forms of fraud
  • Isolate security procedures every organization needs, from education to transfer request controls

This program will cover each of the following forms of fraud:

  • Business email compromise
  • Supply chain fraud
  • False invoices
  • Account takeover

Additional schemes may also be discussed, as wire transfer fraud changes rapidly. Each discussion will include an explanation of the fraud, how it occurs, detection and mitigation strategies, and more.

Who Should Attend:

Operations / Wire Transfer Department; Account Officers; Compliance / Audit; Bank staff who receive and/or process wire transfer requests; Bank staff who manage internal transfers (i.e., who approve and send wire transfers for the bank)







Instructor(s)

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.

Course curriculum

  • 1

    Video

    • Wire Transfer Fraud – $$$$$
  • 2

    Materials

    • Slides

    • Questions and Answers