Wholesale Payment Systems

FFIEC IT Examination Handbook - Wholesale Payments Booklet

Completion Progress0 / 21 Controls

Track your high-value payment system controls

Overall Completion0%

Wire Transfer Controls

0 of 6 controls verified

Complete

Dual authorization required for wire transfer initiation above threshold

High Risk

Out-of-band verification for new or changed beneficiary information

High Risk

Wire transfer request authentication using multiple factors

High Risk

Segregation of duties between wire initiation, approval, and release

High Risk

Daily reconciliation of wire transfer activity

High Risk

Time-of-day and velocity limits for wire transfers

Medium Risk

ACH Origination

0 of 5 controls verified

Complete

Enhanced authentication for high-value ACH origination

High Risk

ACH batch review and approval before transmission

High Risk

Dollar and transaction limits per customer and batch

High Risk

ACH originator agreements with commercial customers

High Risk

Monitoring for unusual ACH origination patterns

Medium Risk

Authentication & Access

0 of 5 controls verified

Complete

Risk-based multi-factor authentication for corporate banking

High Risk

Token or out-of-band authentication for high-risk transactions

High Risk

Session timeout and re-authentication for sensitive operations

High Risk

IP address whitelisting for corporate banking access

Medium Risk

Anomaly detection for unusual access patterns or locations

High Risk

Fraud Prevention

0 of 5 controls verified

Complete

Real-time fraud monitoring for wholesale payment channels

High Risk

Customer notification for high-value or unusual transactions

High Risk

BEC (Business Email Compromise) awareness training for commercial customers

High Risk

Fraud loss allocation and customer agreements

Medium Risk

Incident response procedures for payment fraud

High Risk

Examiner Expectations

Enhanced Authentication

Multi-factor authentication required for wholesale payment channels with out-of-band verification for beneficiary changes and high-value transactions exceeding risk thresholds.

Dual Authorization

Segregation of duties and dual authorization for wire transfers above established thresholds. Dollar and velocity limits enforced with real-time monitoring.

BEC Prevention

Business Email Compromise awareness training for commercial customers. Customer education on verifying payment instructions through independent communication channels.