Wire Transfer Scams

Money transfers can be very useful when you need to send funds to someone you know. But they are NEVER a good idea when you are dealing with someone you do not know. Scam artists often prefer wire transfers to other forms of payment – having money sent to a location where it can be picked up as cash and the scam artist can disappear without a trace.

Remember these tips to prevent becoming a victim of a wire transfer scam:

  • Never wire money to someone you don’t know
  • Never deposit a check from someone who tells you to send some money back
  • Never wire money to a relative in crisis without checking out the story first
  • Never send money to receive money

Wiring money is like sending cash – You can’t get it back

 

Read more about Wire Transfer Scams from the Federal Trade Commission (FTC).