How to avoid a wire scam:
What you should know before you wire money...
- Scammers prefer wire transfers because it's the easiest way for them to take your money and disappear.
- Remember that wire transfers are like sending cash - once it is sent, you can rarely get it back.
How to avoid a wire scam:
- Be transparent with your banker. Never hide the purpose of a wire or your relationship to the recipient.
- Anyone that tries to intimidate or scare you is scamming you.
- Don't wire money to anyone who says they work at a government agency like the FTC, IRS, SSA, U.S. Customs and Border Protection, or a well-known company. (That's a scam: the government will never ask you to send money this way.)
- Never wire money to anyone who pressures you into paying immediately.
- Don't wire money to anyone who says a wire transfer is the only way to pay.
- Never wire money to someone who tries to sell you something over the phone. (It's illegal for a telemarketer to ask you to pay with a wire transfer.)
- Never wire money through companies like MoneyGram, Ria, or Western Union to anyone you haven't met in person. (That's a scam: no matter what reason they give.)
- When in doubt, stop and ask for help.