8 wire fraud prevention tactics every financial institution needs
Wire fraud is a rising threat to financial institutions and their clients, leading to significant financial and reputational consequences. According to the FBI’s Internet Crime Complaint Center (IC3), wire fraud complaints increased by 10%, with associated losses surging by 22% from 2022 to 2023—and the trend continued upward in 2024. This guide equips financial crime professionals with essential best practices to prevent wire fraud and protect their organizations.
