wire transfer fraud

Wire transfer fraud occurs when scammers manipulate individuals or businesses into sending money electronically under false pretenses. This can happen through phishing emails, phone calls, or fake websites that appear legitimate. Victims may be tricked into revealing sensitive information or instructed to send funds to accounts controlled by the fraudsters. Once the money is sent, it’s difficult to recover, as it can quickly be moved or withdrawn. Awareness of the signs of fraud, such as urgent requests for payment and unfamiliar payment instructions, is crucial to prevent falling victim to this type of scam.