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Customer education helps prevent wire fraud

Answered by: 

Question: 
What is the most common gap in banks’ wire transfer fraud prevention programs?
Answer: 

Education of customers. Many community banks I have worked with have reported that they either provided limited education to customers on the type of fraud that affected them most or didn’t provide information because they didn’t feel their customers “would read it” anyway. The CFPB has been pushing hard on institutions over the past couple of years to provide more customer (consumer and business) education. The FFIEC has been pushing this agenda for years, as well. Smarter customers are less susceptible to common scams.
In the webinar, I will share 20 years of experience in how to educate and reach your customers with these important messages.
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Learn more about Rayleen Pirnie
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Wire Transfer Fraud Prevention Programs

First published on 06/02/2019

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