Wire Fraud Prevention
Wire transfer is one of the common types of fraudulent activity that attracts criminals due to the speed and finality of payment. Criminals know that money wired is nearly impossible to recover because of immediate settlement and availability of those funds.
Cybercriminals use Business E-mail Compromise (BEC) schemes in which the criminals send an email message that appears to come from a known source making a wire request.
|How to Prevent It|
|Carefully examine the e-mail address, URL, and spelling used in any correspondence.|
|Verify the legitimacy of the wire request by calling the requestor (using information you have, not the one provided in the email message).|
|Verify the wire instruction to see if the receiving bank and account number information is consistent with previous transactions. A request to wire money to a new beneficiary or different bank account should make you highly suspicious.|
|Always Stay Vigilant!|
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