Advisers must manage risk to prevent wire fraud

08/26/2013 | ThinkAdvisor

The responsibility to prevent wire fraud is on advisers, particularly those serving as fiduciaries, according to this article. Failure to do so could result in financial disaster for advisory firms. To protect against this risk, advisers must verify whether wire requests are legitimate, and, most importantly, know their customers. The article offers tips on recognizing and avoiding fraud.

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