Money Wiring Scams

We have seen a marked increase in local customers and businesses who have been tricked into thinking they need to wire money. Read about the most common scams below.

Common wire scams:

• You buy something online. The seller tells you to pay by wiring money.
• You get a check for something you are selling. The check is for too much money. The buyer tells you to deposit the check and wire the extra money.
• You see an ad promising you a credit card or a loan, but first you have to wire money to pay to apply.
• You have met someone online and developed a relationship or a friendship with them. This relationship may go on for a period of time and you may grow close to them. All of a sudden there is an emergency of some sort that they desperately need money to fix. They may ask for the money or they may wait for you to offer because you are such a nice person.
• Someone calls to say you inherited money or won a lottery, but first you have to wire money to pay the taxes.
• You get a call from your grandson or granddaughter. They say they are in trouble in Canada and need your help. They ask you to wire money. They ask you not to tell their parents.
• You see an ad saying you can earn $500 – $1000 per week working from home. They send you a large check to pay for office supplies and ask you to wire back what you don’t use. Or, they ask you to send the money for supplies or a certification to get you started.

Scammers are very good at being friendly. They are also very good at fooling people, and make lots of money doing this. Follow these guidelines:

• Never wire money to someone you do not know.
• Never wire money because someone contacted you:
  
  • Even if you feel like you know the person
  • Even if the person says he is your friend or related to you

Scammers hack into your friends’ and relatives’ e-mail or Facebook Messenger account and send you messages that appear to be from your friends or relatives. If you have a business, they mimic your co-workers e-mail to make a request. They may ask you to wire money or tell you about an investment that they are making tons of money in. If you are relying solely on an electronic communication for this wire, you need to pick up the phone and call your friend, relative or business associate before you send it.

Wiring money is like sending cash. Do not wire money to people you do not know. Never wire money based solely on any form of electronic communication or text. If it is a scam, in almost all cases, you will not get it back.

Please be careful! Contact us if you have questions or need more information about how to avoid money wiring scams.

More Resources

• Security
• IDProtect
• Thumbprint Signature Program
• Debit Card Fraud Monitoring