Test Key

Internal controls used to verify the authenticity of incoming wire requests involve the use of test keys. A test key is a formula used to develop or interpret test codes or test words. Test codes or words consist of a series of numbers signifying different types of information and usually precede the text of the message. As an example, a test code may contain a bank number, the amount of the transaction, and a number indicating the day and week of the month. As an additional precaution, many test codes contain a variable (sequence number) based on the number of messages received.