How to spot a fake wire transfer?

One sign of a wire transfer scam is when you are unexpectedly asked to wire money. This can come as a surprise, especially if the request is from someone you trust or a seemingly legitimate source. Be cautious and thoroughly verify the request before proceeding.

Another red flag is when you are sent a check in exchange for a return payment. The check may appear to be from a reputable company or individual, but it could be fraudulent. Always wait for the check to clear before making any payments or transferring funds.

Be wary if you are asked for a confirmation code before withdrawing funds. This could be a phishing attempt to gain access to your financial information. Never provide this information to anyone unless you are absolutely sure of their identity and intentions.

Another common tactic in wire transfer scams is when you are asked to wire money to another country. This can be particularly risky as it may be difficult to recover your funds once they have been sent overseas. Always thoroughly research any international transactions before proceeding.

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