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Bulletin No.: 2015-31
October 30, 2015

TO: MEMBERS

SUBJECT: Use Caution with Wire Transfer Requests

As the banking industry continues to be vigilant against fraudulent activity, the Federal Home Loan Bank of Dallas (Bank) would like to remind our members to use caution when initiating wire transfers for customers, including wire transfers initiated through the Bank.

For example, accepting wire transfer requests from your customers by fax or email can expose your customers to increased fraud risk. Criminals may be able to falsify these instructions while making them appear legitimate, so your institution should have secondary controls in place to verify the validity of such requests. This will reduce exposure to potential fraud and save your institution time and money.

Please be aware that the Bank takes safeguards to protect our members who initiate wires or ACH transactions through us, including login requirements, secondary verifications, and security measures such as multi-factor authentication. We also do not request sensitive information from our members through unsecure means. Please feel free to contact our Member Services Desk at 844.FHL.BANK if you suspect a communication you received from us may not be legitimate.

We value the trust you place in us. As your financial partner, we are committed to protecting the security and privacy of your accounts and personal information. Thank you for your valued partnership.

 

Sincerely,


Gustavo Molina
SVP, Chief Banking Operations Officer