assess Your Fedline advantage program
For FedLine Advantage customers, validate your internal security policies and procedures for electronic funds transfers, such as wire transfers and ACH.
Fedline security & ControlS Procedures AUDITS
FedLine Advantage is web-based, layered security solution facilitating electronic payment services, such as wire transfers and ACH, as well as electronic access to information services and applications. FedLine Advantage has both hardware and software components and is delivered by The Federal Reserve via subscription.
The Federal Reserve Banks require that the security and control procedures be implemented by each FedLine Advantage customer pursuant to the terms and conditions of Operating Circular 5, Electronic Access (OC 5), and these procedures are part of the security procedure agreement under specific Operating Circulars. The FedLine Advantage Solution has been designed using a layered security model. To supplement the security of the FedLine infrastructure, the Federal Reserve Banks expect organizations to follow internal organizational security policies and procedures, industry best practices and supervisory guidance. BAI Security’s FedLine Security & Controls Audit validates adherence to these requirements.
Examples of information BAI Security reviews as part of this assessment include:
- Wire transfer terminal configuration documentation
- Training documentation of employees over wire transfer practices and organization training policy
- Policies and procedures in place over administrative, technical, and physical safeguards covering the organization’s wire transfer infrastructure
- Business and IT operations documentation
- Sanction and disciplinary policies and procedures over privacy violations
- Business continuity documentation
- Data handling procedure documentation
- Assurance documentation relating to the review and audit of wire transfer controls
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