Wire Transfer Fraud Trends and Controls


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Wire Transfer fraud is perpetrated from many avenues, from BEC to friendly-fraud, and account takeover to money mules, fraudsters love access to high-dollar, fast payments with immediate settlement and availability. Despite this highly controlled payment mechanism, fraudsters continue to identify ways to exploit wires for their benefit.

In this session, two payments fraud experts will explain the top forms of Wire Transfer frauds today with a focus on sound mitigation practices and controls. Attendees will identify red flags of possible fraud, assess escalation strategies and internal protocols proven effective in the fight against fraud, and detail how all staff, from the frontline to executive management, have a role to play in the efforts.


Rayleen M. Pirnie, BCJ, AAP, CERP is the Director of Risk & Fraud at NEACH overseeing the organization’s comprehensive risk management program, advancing strategy to support both industry and member efforts to identify and mitigate fraud. With more than 20 years of experience, Rayleen is a leading expert in payments rules, compliance, risk management, fraud prevention, and security. Through leadership roles and years of research and dedication, Rayleen has developed a deep knowledge and unique skillset that allows her to deliver actionable solutions to not only financial institutions and financial service providers, but across other industry verticals as well. Rayleen is an Accredited ACH Professional (AAP) and a Certified Enterprise Risk Professional (CERP). She is a member of the Association of Certified Fraud Examiners (ACFE) and holds a Bachelor of Science in Criminal Justice Administration. She is an author and highly sought-after speaker.

Sean Blake, CFE is a Front-Line Risk Manager at Citizens Bank within their Fraud & Claims area. Sean is a member of the International Association of Financial Crimes Investigators and Association of Certified Fraud Examiners (ACFE). With the ACFE Sean holds the Certified Fraud Examiner certification. Prior to taking on the role of Front-Line Risk Manager Sean has over 10 years of experience as a Financial Crimes Investigator specifically focusing on electronic-crimes. Sean holds bachelor’s degrees in History / Secondary Education and Security Risk Analysis along with a master’s degree in Criminal Justice.

Recorded on Thu, Apr 18, 2024 2:00 PM – 3:30 PM EDT


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