The Writing’s on the Wire: Why Private Markets Must Upgrade Money Movement, Now

According to a new Yahoo Finance article, nearly eight in ten registered investment advisors now list wire fraud and social engineering among their top corporate risks.

This should be a wake-up call for private equity firms and fund administrators, everywhere. 

If RIAs are this worried about wire fraud, imagine how exposed PE firms are. Their transactions are bigger, faster, and far more complex — yet most still rely on status quo processes, legacy wires, and manual double-checks.

To mitigate for the banking blindspots, lack of error protection, or financial recourse of traditional wires, fund administrators make identity verification callbacks that rely on who you think you’re talking to. 

In the age of AI, that’s a dangerous assumption.

Fraudsters aren’t just breaching systems, anymore. They’re manipulating the humans who use them — with AI voice cloning, spoofing, and social-engineering tactics that turn status quo processes into dangerous wastes of time.

Fraudsters are early adopters. They’re using deepfakes to trick even the most careful teams into sending millions to the wrong account. Today, the old call-and-confirm, email-and-spreadsheet processes just create opportunities for fraudsters to attack.

That’s why 6lock exists.

6lock is a secure money movement platform purpose-built for private markets. This instantly deployable solution works with all banks, adding what legacy rails never could: 

• Automated KYC/KYB identity verification
• Bank account verification and self-service management
• Continuous monitoring to detect anomalies
• Customizable workflows and role-based approvals
• Real-time visibility to see funds leave and land
• Robust reporting for compliance

Rather than squinting at emails and spreadsheets, chasing LPs with callbacks, and hoping for the best, PE firms and their fund administrators can set up a secure system of record in 6lock. Safely dispose of all other paper or digital records to improve your security posture, instantly.

With 6lock, LPs know that their data is safe, and they can manage it over time from anywhere. LPs love 6lock for the ease of participating in any PE transaction without friction — no phone calls to re-hash account numbers, logging into bank portals, or having to carefully follow wire instructions. Just easy, actionable notifications they can handle on mobile.

Adopting 6lock means your value creation engine is ready to transact at the pace of opportunity across an LP cohort that is identity-verified, banking information verified, and poised for profit. 

So while RIAs are just starting to name wire fraud as a top risk, private markets have the chance to lead the industry. With 6lock, security and speed are in sync, investor experiences are improved, and PE teams never handle sensitive data again. 

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