How secure are your financial transactions?
Every day, finance teams move millions of dollars through wires, closings, and high-value disbursements. But even with strong internal controls, gaps can creep in—whether from human error, outdated processes, or fraudsters exploiting weak points.
This worksheet is designed to help you quickly evaluate your team’s exposure to wire fraud and transaction security. In just a few minutes, you’ll see:
- Where your current practices are strongest
- Where you may be vulnerable to fraud or costly mistakes
- Which areas to prioritize for tighter controls or additional protection
Your score will reveal whether your risk posture is low, moderate, high, or critical—and give you a clear starting point for improving transaction security.
Download, mark up, and share with your team:
DOWNLOAD THE ASSESSMENT AS A PDF
Instructions
For each item, mark with an ❌ if partially implemented at your organization or not in place.
At the end of each section, tally your ❌s to determine your current exposure.
1. Identity & Access Controls
❑ We verify the identity of all transaction participants before funds move.
❑ Multi-factor authentication is required for all staff initiating or approving payments.
❑ Access to transaction systems is role-based (not “all access”).
❑ We regularly review and revoke access for departed or inactive users.
Section Score: ___ / 4
2. Bank & Payment Verification
❑ Bank account ownership is validated before disbursements.
❑ We use out-of-band verification (e.g., call-backs, micro-deposits) for new or changed account details.
❑ Wire instructions are never accepted by email alone.
❑ High-value transfers require dual approval.
Section Score: ___ / 4
3. Transaction Process & Controls
❑ Transactions follow a documented checklist (no ad-hoc steps).
❑ Large or multi-party closings are managed in a secure platform rather than email/spreadsheets.
❑ Every transaction has a clear audit trail (who approved, when, and how).
❑ We separate duties between initiation, approval, and reconciliation.
Section Score: ___ / 4
4. Fraud Awareness & Training
❑ Employees are trained on phishing, spoofed emails, and social engineering.
❑ We conduct periodic internal tests (e.g., simulated fraud attempts).
❑ Staff know the escalation process if suspicious activity is detected.
❑ Our team reviews fraud incidents or near-misses and updates policies.
Section Score: ___ / 4
5. Insurance & Risk Transfer
❑ We have a cyber or crime insurance policy that covers wire fraud.
❑ We understand the limits and exclusions of that policy.
❑ We use transaction-level insurance or other protections for high-value payments.
❑ We have a process to notify carriers quickly if a loss occurs.
Section Score: ___ / 4
Scoring Guide
⛔️ 0–6 points → Critical exposure. Immediate action required.
⚠️ 7–11 points → High exposure. Significant weaknesses exist.
🚧 12–16 points → Moderate exposure. Some gaps to address.
👍🏻 17–20 points → Low exposure. Strong controls in place.
Want to safeguard your transactions from every angle?
The Secure Transactions Framework gives finance teams a clear playbook—covering identity verification, account validation, permissions, insurance, and more. Think of it as your blueprint for reducing fraud risk and building confidence in every wire, closing, or high-value payment.
