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Common examples of wire fraud

On Behalf of | Jul 19, 2022 | White Collar Crimes

For years, wiring money to family or friends has been a convenient option to get money moved quickly. However, criminals have also found ways to turn wiring money into wire fraud. 

Unfortunately, many scammers use these tactics, which result in cases of wire fraud. Understanding the most common types of wire fraud can help you avoid being a victim. 

Romance scams

With this type of scam, a person creates fake profiles and posts them to dating apps and sites. The goal is to get someone to message them and earn their trust. These scammers are so dedicated they will even talk and chat with the person multiple times per day. Once they have earned the person’s trust, they will create a story about an emergency or another issue and ask the victim to send money. 

Fake check scams

Another common wire fraud scam is if someone sends you a check and then requests you deposit it. They will then tell you to wire some of the money back to them or someone else. People fall for this because the scammer often tells the person cashing the check to keep a significant amount for themselves. 

While financial institutions are better at catching these checks today, some still get through. When it is discovered that the check was fake, the person who cashed the check is on the hook for all the money that was withdrawn. 

Protecting yourself from wire fraud charges

Unfortunately, cases of wire fraud are more common than some people realize. If you have found yourself in a situation where you are accused of wire fraud, it’s smart to know what legal options you have to defend your situation. This is going to help you avoid negative outcomes for the situation.