PROTECT YOURSELF FROM WIRE SCAMS

Wire Fraud is on the rise, and these scams involve deceptive schemes where individuals or organizations try to trick others into wiring them money or sensitive information under false pretenses. Please read below to learn more about how to recognize and avoid wire scams. 

Common Wire Scams

Real Estate Wire Fraud:

Scammers intercept communications between buyers, real estate agents, and/or title companies to misdirect the closing costs and down payments to fraudulent accounts. For instance, a homebuyer receives a last-minute change in payment instructions into a scammer-controlled bank account, often justified as a procedural necessity.

Investment Wire Scams:

Scammers offer fake investment opportunities promising high returns with low risk. They may use sophisticated terminology and forged documents to appear legitimate, urging victims to wire money to participate. This could include opportunities in overseas markets or unregulated commodities.

Employment Wire Scams:

Job seekers are tricked into wiring money for training materials, software, or other job-related expenses as a condition of employment. Often, the job does not exist, and the scammer collects the money transferred under false pretenses.

Romance Wire Scams:

Job seekers are tricked into wiring money for training materials, software, or other job-related expenses as a condition of employment. Often, the job does not exist, and the scammer collects the money transferred under false pretenses.

Lottery or Prize Wire Scams:

Victims are informed they have won a lottery or a prize but must pay taxes or fees upfront through a wire transfer to claim it. An example is a notification via email or phone that you’ve won a foreign lottery, with a request to wire funds to cover administrative fees before receiving the winnings.

Red Flags to Watch Out For:

Urgent Requests For Money	Unsolicited Offers or Deals
Request For Secrecy	Grammatical Errors and Poor Language
Unusual Payment Methods	Changes in Payment Instructions
Mismatched Email Addresses or Urls	Unexpected Return Offers

What Can You Do:

• Verify Requests.
• Use Secure Communication Channels.
• Verify Identities.
• Implement Two-Factor Authentication.
• Education and Awareness.
• Report Suspicious Activity. If you experience any suspicious activity, please call our customer support team at 800.448.7768 for assistance.