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Combatting Fraud: Money Wiring Scams

Combatting Fraud: Money Wiring Scams

One of the most popular scams involves someone asking you to wire money to them or a company. Maybe you were contacted by a “friend” asking you for financial help; or you’ve been told you won a contest or lottery and that you have to pay taxes or fees before your prize can be paid out.

Any request to send money via a wire transfer is a red flag that you’re being scammed. Transferring money via a wire transfer is like handing over cash. If you have a friend in need that you truly want to help, do so in person. Don’t assume that the person you’re talking to over the phone or via an email or other online message is really who you think they are.

Scammers are excellent at gathering personal details to accurately impersonate another person for the purpose of a scam. The scammer may seem adamant or pushy that they need the wire transfer completed immediately because of an emergency or deadline.

If you’re feeling pressured or something seems off, listen to your gut. After all, it’s always better to be safe than sorry. You can read more about identifying wire transfer scams and other similar scams here.


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