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What is wire fraud?

Wire fraud is an act of fraud that uses electronic communications, such as making false representations on the telephone or via email, to obtain money.

How does wire fraud work?

Wire fraud occurs when a fraudster obtains money through false representation or promises. For example, the fraudster may impersonate a settlement agent or an attorney sending wire instructions in order to get financial information.

How to protect yourself from WIRE/ACH fraud:

  • Do not share your online banking login credentials, including your username and password with anyone.
  • Do not share your banking number with anyone who does not need it.
  • Never access your bank account using a public computer (e.g.,at the library or a hotel business office.)
  • Monitor your accounts regularly for unauthorized transactions and report any unauthorized transactions to your bank immediately.
  • Be suspicious of emails from free, public email account domains.
  • Watch out for phishing emails with embedded links, even when they appear to come from a trusted source.
  • Install a firewall on your computer to prevent unauthorized access.
  • Be skeptical of any change in wiring instructions.
  • Confirm wire and other disbursement instructions you may have received via email by calling to confirm them at a known or independently-confirmed number, not the telephone number at the bottom of the email.
Monument Valley, Arizona, USA

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