Wire Fraud

Wire Fraud In Depth

Wire fraud and mail fraud are similar. They both involve schemes that are designed to deceive people into giving away, sensitive personal information, money or other assets. The main difference is, wire fraud uses electronic services like phone, fax, sms and the internet.  

Historically wire fraud schemes relied on the telephone with scammers limited by the amount of calls they could place to try to hook their victims. Today, with the proliferation of the internet, fraudsters can reach many more people through social media with their fake stories of loss, love and instant wealth. Some of the most common types of wire fraud include:

Nigerian Prince Scam

This is a common scam that has been around for along time and was made famous by scammers posing as a Nigerian Prince. The fake characters have changed over time but the basic format is the same. The scammer sends a message claiming to have a very large sum of money, but for political or legal reasons they cannot get access to it. They ask for help to get access to the money and in return they promise to pay the victim a share. The goal of the scammer is to get access to the victims personal information like their date of birth, social security number, bank account and credit card details which they use to steal money or use their identity in other kinds of fraud.

Lottery & Prize Scams

Victims receive an email that they have won a cash prize or sweepstake. The communication states that to claim the winning prize they need pay a processing fee of a few hundred dollars. Unfortunately there is no prize and the scammer makes off with the money you transferred. 

Catfishing

Catfishing is when someones sets up a fake profile to win their victims trust and ultimately get money from them. Often these types of scams are associated with online dating and they target vulnerable people looking for companionship. Once the scammer has won a victims trust they start asking the victim for money, often for small amounts initially then gradually increasing over time.

Phishing

Scammers use email or sms messages to try to trick people into giving away personal information. The send an email that looks like it is from a trusted company like a bank, online store or social network.  The message is designed to get the victim to click on a link or open an attachment. Some of the tactics include; notifying you of a problem with your account, offering a coupon, confirming personal information or overdue payment. Clicking on the link installs malware onto the victims computer and allows the scammers to get access to their email account, which they to find businesses that they victim has some transaction history with. They pose as that business and request payment by wiring money to them.

Scams Relating to Wire Fraud

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Red Flags of Fake Credit Union Emails: Prevent Phishing
15 September 2021 |

Red Flags of Fake Credit Union Emails: Prevent Phishing

Scammers have turned their phishing attempts to members or credit unions by sending out fake emails hoping to get their hands on valuable personal data.

Scams in Other Categories...
Received a Text/Email Asking You to Validate Your COVID-19 Status? It's a Scam

Received a Text/Email Asking You to Validate Your COVID-19 Status? It's a Scam

Scammers are impersonating government departments in an attempt to steal your information in this new COVID-19 scam.

How to Identify a Fake Email from Your Bank & Protect Yourself

How to Identify a Fake Email from Your Bank & Protect Yourself

Scammers impersonate well-known banks, such as Citibank and Chase, to trick you into giving up your sensitive information—learn how to beat these scams.

The "Little Gift" is a Lie! Protect Yourself From Fake Verizon, AT&T, and T-Mobile Texts
15 October 2021 |

The "Little Gift" is a Lie! Protect Yourself From Fake Verizon, AT&T, and T-Mobile Texts

If you receive a text message from your cell phone provider containing a link to a "little gift," don't click on it—it's a scam!

Red Flags of Fake Venmo Email Scams Promising A Lot of Money

Red Flags of Fake Venmo Email Scams Promising A Lot of Money

Venmo users are noticing suspicious emails hitting their inboxes with claims of a large sum of money waiting to be transferred by a PayPal user.

Tinder Code Scam Leads to Monthly Porn Subscriptions
7 October 2021 |

Tinder Code Scam Leads to Monthly Porn Subscriptions

The Tinder safe dating scam tricks users into giving up their credit card info to verify their profiles and leads to auto-enrollment in monthly subscription-based porn sites.

Recognize Fake Bank Reps Calling to Steal Your Information
6 October 2021 |

Recognize Fake Bank Reps Calling to Steal Your Information

A call from your bank isn't always legitimate—imposters pretend to represent your bank to steal your information and money.

Vishing Scams: What They Are and How to Protect Yourself
4 October 2021 |

Vishing Scams: What They Are and How to Protect Yourself

In 2020, almost $20 billion was lost to phone scammers in the U.S. alone. With 165 million robocalls being made every day, it's hard not to be targeted.

Red Flags of Advance Fee Scams and How to Beat Them
28 September 2021 |

Red Flags of Advance Fee Scams and How to Beat Them

A promise of a large sum of money in return for a fee should raise some red flags—more often than not, it's a scam.

How the Nigerian Prince Scam Has Evolved & How to Protect Yourself

How the Nigerian Prince Scam Has Evolved & How to Protect Yourself

Arm yourself with information on how this scam works and the red flags to watch out for to protect your bank account from these thieves.

Guides Relating to Wire Fraud

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How to Report a Scam Website and Why It's Important

How to Report a Scam Website and Why It's Important

With more than 2 million fake websites online, it's important to report any you come across to help the authorities shut them down and protect others from falling for scams.

15 Ways to Protect Your Bank Account from Scammers

15 Ways to Protect Your Bank Account from Scammers

Keeping your bank account and money secure isn't as simple as keeping your PIN a secret. Hackers and scammers find numerous ways to gain access to your funds.

Guides in Other Categories...
Senior Safety: 11 Ways to Protect Against Online Elder Scams
26 October 2021

Senior Safety: 11 Ways to Protect Against Online Elder Scams

Millions of senior citizens fall victim to fraud each year. Learn how to protect yourself or a loved one against elder scams and what to do if you've been scammed.

How Much You Really Save on Black Friday: Amazon Tech Prices Compared
23 October 2021 |

How Much You Really Save on Black Friday: Amazon Tech Prices Compared

Just how good are Amazon Black Friday deals? We compare the prices of some of the most popular tech in the lead-up to and post Black Friday.

How to Report Scams in Australia
20 October 2021

How to Report Scams in Australia

With so many services available it is hard to work out what to do. We narrow it down to give you the essential information you need to report a scam and get help.

News Relating to Wire Fraud

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News in Other Categories...
N.J. Man Pleads Guilty to SIM Swapping Conspiracy Stealing Over $500k From Victims
5 October 2021 |

N.J. Man Pleads Guilty to SIM Swapping Conspiracy Stealing Over $500k From Victims

This case shows just why you need to be aware of SIM swapping and how to protect your cell phone number from criminals like this.

Student Loan Scammers Arrested After Stealing $6.1 Million
22 September 2021 |

Student Loan Scammers Arrested After Stealing $6.1 Million

After a 3-year long scam, Angela Mirabella and six others have been indicted on several charges, including grand theft.

FBI Warns Fake COVID Vaccine Cards Could Lead to Prison Time
14 September 2021 |

FBI Warns Fake COVID Vaccine Cards Could Lead to Prison Time

Taking a chance on a fake COVID-19 vaccination card seems like an easy way to get around requirements, but think again before you land yourself in prison.

Beware of this New Scam Involving A Fake Call from CBP
10 September 2021 |

Beware of this New Scam Involving A Fake Call from CBP

Sometimes it just safer not to pick up calls from unknown phone numbers.

Nike Teams Up with U.S. Customs to Stop Counterfeiters
23 August 2021 |

Nike Teams Up with U.S. Customs to Stop Counterfeiters

Nike is taking a stand against counterfeiters and stopping fake products before they hit U.S. soil.