LexisNexis (March 24, 2020, 10:16 AM EDT) -- The fraud risk in wire transfer systems is a serious one for sending and receiving institutions. A wire transfer might be fraudulently initiated or altered in an attempt to misdirect or misappropriate funds. One example is an employee who sends unauthorized wire transfers. Another is an interloper who gains unauthorized access to a wire transfer system. How can these risks be reduced, either by internal procedures or contractual provisions? Set forth below is a menu of compliance strategies to consider....