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Confirming wire-transfer controls

Question: 
Do we need to confirm that our commercial wire transfer clients have controls in place to prevent wire transfer fraud?
Answer: 

Requiring that higher-risk (high volume and/or large amounts) clients provide audit documentation of agreed-upon controls is always a good loss-mitigation strategy.
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Learn more about Rayleen Pirnie’s webinar
New Twists on Wire Transfer Fraud

First published on 02/04/2018

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