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Stop Losses Before They Happen

With the internet at their disposal, fraudsters are steadily increasing their abuse of electronic payment systems. Particularly vulnerable are wire transfer processes, where a fraudulent transaction can cost a financial institution more than just its assets. Protect your company’s reputation by adding WireFraud Manager to your installation of WirePro.™

Before the funds leave your institution, you can prevent fraudulent outgoing FedLine wire activity initiated by:

• Unauthorized persons
• Account holders
• Internal bank employees

Automatically stop the progress of the transaction if it needs further investigation, and proactively prevent potential losses.

Minimize the Risk of Wire Fraud 

WireFraud Manager can help you detect abnormal wire red flags for further investigation — particularly wires originated through online banking where the risk of corporate takeovers from “malware” (malicious software) are increasing at epidemic proportions.

Best of Both Worlds 

WireFraud Manager filters out suspicious wires based on both transactional and behavioral criteria. This dual-angle protection gives you more comprehensive fraud prevention abilities than previously available from other leading providers.

Take Fraudulent Wire Transactions Out of the Equation
After being scanned for OFAC, if an outgoing wire matches one of our fraudulent alerts, it is sent to the “Blocked Wires – Wire Fraud Manager” queue for further review before being processed. This queue is only available for users of WireFraud Manager.



Investigate Suspicious Transactions
Suspect wires are held in Blocked Wires along with the details of their abnormal patterns so that you can determine whether or not it is a fraudulent wire.



Customize Your Alerts
WireFraud Manager empowers your administrator to adjust and customize alerts at the institution, account group, or individual account level so that you can prevent your expected customer activity from landing in the blocked wires queue. You can even document the reason for the specific change to the alert.



Take Action
Once you have conducted your review of the suspicious wire, you can choose “Clear” and allow it to continue processing, or “Mark As Fraud” to thwart the fraudulent wire attempt and successfully stop criminals in their tracks.