Wire

Countdown to Fedwire ISO 20022 Migration Webinar

On-Demand - 2 Hour

Wire Transfer training session to assist you in being prepared for the upcoming FedWire Migration. 

The  Fedwire® Funds Service will be migrating from the existing Fedwire Application Interface Manual (FAIM) format to the ISO® 20022 message format. Join us for an informative 2-hour session where we review important details and considerations to help attendees, and their organizations prepare for migration. Topics covered include:

• Key dates and milestones
• An overview of ISO 20022
• A review of what’s changing
• Operational considerations
• Accountholder impact
• Software considerations
• Training Opportunities
• Readiness checklist
• Post-migration support

We are pleased to have wire experts as speakers for this event to share tips on preparing for the migration and to ensure you are in compliance. 

At the time of the live webinar, the effective date of the Fedwire Migration to ISO 20022 was March 10th. Federal Reserve Financial Services (FRFS) has delayed implementation of the Fedwire Funds Service ISO 20022 implementation from March 10 to July 14, 2025. This will provide customers and vendors who are not ready additional time to better prepare for the transition to the new ISO 20022 format.

CEUs: 2.4 AAP/APRP

Wire Transfers: Risk, Compliance and Accuracy

On-Demand - AAP/AFPP/APRP Credits 1.8

This workshop focuses on the critical aspects of processing wire transfers, emphasizing the importance of mitigating fraud risks, adhering to regulatory requirements, and ensuring transaction accuracy.

Wire transfers are highly susceptible to fraud due to their speed, finality, and the potential for sophisticated scams such as spoofed emails, invoice modification schemes, and executive impersonation. Once funds are sent, they are often difficult or impossible to recover, making robust internal controls and proactive fraud detection essential.

Participants in this training will learn to:

• Identify common fraud scenarios and implement controls such as transaction limits, biometric checks, two-factor authentication, and callback verification.
• Establish and audit compliance procedures for both domestic and international wire transfers.
• Strengthen policies, monitoring, and risk assessments to support a resilient wire transfer program.

This training is essential for operations staff, compliance officers, auditors, and anyone responsible for initiating or approving wire transfers, providing practical tools and knowledge to safeguard financial transactions and maintain regulatory compliance.