Description:
The method of choice for many scammers is a wire transfer. The Romance Scam, Work-From-Home Scam, Loan Scam, the Crypto-Investment Scam and the swarm of others begin with a hook that reels our accountholder in and ends with a set of wire instructions and call for urgency that often results in losses for your accountholder.
In this session we will review the latest and greatest wire scams circulating today as well as a few of the tried and true old standards. We will review the requirements of UCC4A and how they impact how we handle fraud and importantly who is liable for losses taken. Join us for this jam-packed session to discover controls and procedures you should have in place to respond to wire fraud and mitigate your losses.
Learning Objectives:
- Review common types of wire fraud and scams
- Understand the rules and requirements defined by the federal reserve operating circular
- Identify how UCC-4A impact your wire process
- Establish controls to mitigate risks from business email compromise and email account compromise
- Detail requirements of both domestic and international wires to proactively protect your institution and accountholders from fraud losses, including:
- Internal Controls
- System Security
- Identification and authentication requirements
- OFAC screening rules
Intended Audience:
This jam-packed session is designed for Operations personnel, BSA Officers, Compliance Officers, internal auditors, and any employee who handles wire transfers.
Presenters:
Dawn Kincaid
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 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 the 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.
December 17, 2025