Protect Yourself from Wire Transfer Fraud

Wire transfers are a fast and convenient way to move money—but that speed also makes them a common target for fraud. Scammers use increasingly sophisticated tactics to trick people into sending money under false pretenses, often creating a sense of urgency or trust to avoid detection. Understanding how these schemes work and knowing the warning signs can help you stay one step ahead and protect your hard-earned funds.

•  Real Estate / Mortgage Fraud – Fake “updated” wiring instructions from criminals posing as escrow or title agents.
•  Romance Scams – Online acquaintances asking for wires for travel, medical needs, or emergencies.
• Imposter Scams – Callers pretending to be the IRS, Social Security, law enforcement, or even KCU demanding urgent wires.
• Business Email Compromise (BEC) – Fraudsters spoof company/vendor emails with urgent payment requests.
• Lottery / Prize Scams – “You’ve won!” but must wire taxes or fees to claim the prize.

• Someone is pressuring you to send money quickly.
• You’re told to keep the transaction secret or confidential.
• Instructions arrived by email, text, or phone without direct verbal confirmation.
• The receiving account is new, unknown, or overseas.
• Requests tied to romance, prizes, investments, or “protecting your account.”

• Verify Before You Wire – Call a trusted number to confirm instructions.
• Slow Down – Fraudsters rely on urgency and panic.
• Never Wire for Strangers – If you don’t personally know them, don’t send money.
• Double-Check Details – Once sent, wires are nearly impossible to recover.