Bank B receives an incoming wire from Bank A. The beneficiary information in the incoming wire is verified by Bank B and it matches a consumer account held by Bank B. The incoming wire is posted.

Bank A now sends Bank B a Return Wire Request stating that the incoming wire is fraudulent. Since Wired funds are irrevocable, Bank B's procedure is to first contact the beneficiary to obtain approval to debit the beneficiary account and return the wired funds; however, Bank B reviews the consumer account history and the incoming wired funds have been used.

Who has liability for the Fraudulent Incoming Wire, Bank A or Bank B: with the possibility that the beneficiary may also be involved in knowing the incoming wire was fraudulent:

A wire transfer is done as soon as the sending bank (Bank A) hits the send button as long as it is credited by the receiving bank (Bank B) according to the wire instructions. Bank B has zero liability.