As the threat of wire fraud grows and criminals develop increasingly complex scams, banks and credit unions require quick and effective solutions to protect their institutions and their customers from loss. Wire losses can be significant and difficult to recover, and the high values and international nature of many wire transfers make them inherently risky.
With criminal schemes such as Business Email Compromise (BEC) a growing concern, institutions need enhanced monitoring to prevent serious loss.
Highlights from this presentation include:
- Recent wire fraud trends and insights from the Cloud
- An overview of wire fraud threats such as BEC and elder financial abuse
- A review of fraud detection, investigation and prevention scenarios for wire payments