Frequently Asked Questions

The more you know, the less likely it is that you’ll become a victim of scams and fraud.

Here are our most frequently asked scam and fraud questions.

What is money transfer fraud?

Companies that offer money transfers deliver a useful service, however, money transfer fraud, or wire transfer fraud, occurs when scammers convince consumers to send them money and then do not deliver goods services or value promised. According to the Washington State office of the Attorney General, U.S. Consumers lose millions of dollars each year due to money transfer, or wire transfer, scams.

Is it safe to send money?

Yes, it is.  But it’s especially important to know who you are sending money to first. Money transfer is a useful, fast, and convenient way to send cash to friends and family.  Problems occur when you authorize the delivery of funds to individuals you don’t know, or to organizations with questionable backgrounds.

Are there risks to money transfers?

Yes – particularly when you don’t know who you are sending the money to. Keep in mind, sending money is the same as sending cash. Once you send it, it’s gone, and you can’t get it back.

Who is most at risk for money transfer fraud?

Anyone can be at risk of money transfer fraud. Scammers target everyone. They look for people who appear to be vulnerable, are unfamiliar with the scheme, and are trusting of others.

What are the warning signs of money transfer fraud?

Here are some common “red flags” that may indicate a scam – if someone:

  • You don’t know asks you to wire money to them
  • Asks you to deposit a check and send them back a portion of the money
  • Pretends to be a friend or relative claiming to be in a crisis, and asks you to wire money to them right away
  • Tells you you’ve won a prize or contest that you don’t remember entering, and asks you to wire money to pay fees, taxes, or customs to receive your prize

How do scammers fool people?

They do it in many ways, but most commonly, they take advantage of your trust in people. The methods they use can be quite clever and may seem quite innocent, but they usually have one ambition – and that is to take your money.

What do I do if I’ve become the victim of phone or money transfer fraud?

Contact your local police immediately.

You can also report suspected incidents of over-the-phone fraud or Internet fraud by submitting an online report to the National Consumers League’s Fraud Center.

File a complaint with the Federal Trade Commission or call toll free 1-877-FTC-HELP.

What do I do if I’ve been scammed online?

File a report with your local police and contact the Internet Crime Complaint Center (ICCC). The ICCC is a partnership between the FBI and the National White Collar Crime Center. Try to provide as much detail as you can, including dates, times, and names if available.