Wire Transfer Risk Assessment and Audit of Internal Controls

Wire Transfers are becoming more of a focus for regulatory agencies during yearly exams. Wire transfers are attractive to business customers and consumers because they allow funds to settle same day, additionally, wire transfers are irrevocable; both attributes make wire transfers a significant risk. Let one of our payments experts complete an assessment of your institution's wire transfer program to ensure your program is following regulatory guidelines. The service includes review of compliance with FFIEC Guidance. All methods in which the financial institution receives wire requests are considered during the review.

The SFE Wire Risk Assessment and Audit of Internal Controls service includes:

  • Prior to and onsite checklists
  • Client questionnaire
  • Review of sound business practices and internal controls
  • Review of agreements
  • Exit meeting
  • Written report including findings and/or recommendations
  • Risk Assessment Certification form
  • Access to auditor for questions


Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.