Wire Transfer Audit

Wire transfers are a high-risk function for many financial institutions. As with any cyber financial activity, wires are targets for fraud, malicious activity, and attacks, often resulting in substantial financial loss and a damaged reputation for your organization. Regular audits can help protect your operation and promote improvements, but some companies may not have the resources or know-how to complete these audits. 

10-D Compliance streamlines audits for Bank Secrecy Act (BSA) wire transfers, FedLine wire transfers, and more. We make sure that your processes allow for smooth, safe transactions for any use. 

Our Wire Transfer Review Services

Whether you use them for transactions or facilitating wires for clients, wire transfers are essential. A wire transfer audit evaluates internal processes for wiring and detects inadequacies that impact your business. We perform wire transfer audits and other financial auditing services, such as BSA/AML audits and ACH NACHA evaluations.

10-D has a tailored audit approach that thoroughly evaluates your system for wiring money. Our wire transfer audit report will include:

  • An itemized summary of every test and evaluation. 
  • Any weaknesses or vulnerabilities in your current wire transfer operations. 
  • All gaps that could lead to risk exposure. 
  • Any steps you can take to reduce malicious or fraudulent transactions. 

Once complete, our report summarizes your overall risk level and ranks your company. We use a universal format that makes it easy to read our report and prioritize financial objectives.

The Scope of Work

Our professionals have years of compliance backgrounds, so they understand industry requirements and regulations. We have worked with hundreds of financial institutions and enhanced their safety and security. 

During our audit, we review:

  • Wire transfer process
  • Wire transfer history
  • Wire transfer policy and procedures
  • Customer agreements and training materials
  • Wire transfer applications

Audits are a staple for any financial company, especially those that: 

  • Offer wire transfer or cash management services.
  • Fall under Gramm-Leach-Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley Act (SOX), or Payment Card Industry (PCI) regulations. 
  • Have had fraudulent, erroneous, or malicious activity within the past year. 

Contact 10-D Today 

Wire transfers are a key component to many financial institutions - it's critical to maintain your system and follow regulations. If you want to improve processes or monitor your compliance yearly, audit services from 10-D can help. We alleviate some of the work from your team and ensure you follow critical guidelines and protect private information. 

Our team streamlines all audits with years of industry experience for fast, actionable results. Request a quote or contact us online today! 

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The 10-D Compliance Difference
  • We have experience auditing hundreds of financial institutions across the country.
  • Our professionals have compliance backgrounds and understand the regulatory requirements.
You would benefit from a 10-D
Wire Transfer Audit if
  • You are offering wire transfer or cash management services and products.
  • You are subject to regulation; such as GLBA, HIPAA, SOX or PCI.
  • You have had a fraudulent, erroneous or malicious activity within the last 12 months.

Keep your institution off the evening news.

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