Just remember, when it comes to money transfer scams, your best weapon is yourself. We can detect malware, fraudulent apps, and phishing scams that have been targeted at our customers. We have a fraud system that takes a multi-layered approach to not only detecting, but also preventing, fraud. In addition to SSL encryption that provides a secure connection and protects your information from being intercepted, we have sophisticated technology to monitor everything from logins and registrations to transactions. As upsetting as it is, there’s no need to deny your charitable compassion–just do your due diligence to make sure the money is going where you think it’s going.Ĭhoose a reliable money transfer providerĪt OFX, we take security very seriously and our award-winning fraud prevention team employ some of the most sophisticated strategies in fraud deterrence and prevention. You may receive physical letters written by children, but it’s all part of the scam. The sad reality is that scammers will do anything to get your money including pretending to be an orphanage overseas or some other cause. Arrange to meet the parties involved in person, and if you can’t, it’s probably time to walk away.Ĭharitable giving. The internet provides a level of anonymity that scammers love. Has someone you don’t know suggested that you invest in overseas business opportunities? Are they giving you a great deal on a product or offering a chance for you to work from home? Maybe you’ve won the lottery or an inheritance from overseas? Don’t believe it. Before wiring money, it’s worth the price of a plane ticket to see if your love is legit. The lure of love can be a strong pull, but scammers are preying on your compassion, integrity and generosity. Have you fallen for a beautiful person you met online who lives overseas? Does he/she need money for relocating, or a recent injury or illness? Be wary. While most of the time your money transfer provider is not the problem, it’s always wise to choose a service who takes security seriously. Use a reputable and secure money transfer service.

If you don’t meet their deadline and they contact you again saying the deadline has been extended, you may be dealing with scammers. Scammers will often say you have to transfer by a certain date in order to take advantage of what they have offered you. If you feel you have to send money to someone you’ve never met, try to avoid sending large sums all at once.Ĭonsider paying late. The good news is: you can protect yourself and avoid money transfer scamsįollow a few simple guidelines to stay one-step ahead of the scammers.Īvoid sending money to someone you’ve never met in person. That’s why scammers often prefer money transfers, because the money moves fast, and once it’s gone the chances of recovering it are slim.

There’s typically no way that you can reverse a transaction once it’s been processed. Once the money is overseas, it can be very difficult to get a foreign government involved with your claim. No matter which company you choose to send your money, you could be vulnerable to con artists, if you send money to someone you’ve never met.

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