Bank wires can be an easy and convenient way to transfer money quickly and is often used for real estate purchases and other large transactions. At the same time, wire fraud is on the rise and we want to warn against some of the things you can do to help prevent being victimized by this potentially devastating crime. Once you wire cash, especially overseas, it can be nearly impossible to reverse the transaction.

  • Be vigilant with potential scamming, spoofing, and phishing techniques, especially as it relates to email and the Internet. The FBI has shared common scams, crime information, and safety tips, which you can review using the link below
  • Always confirm wire details with the receiving financial institution, either in person or over the phone (after you call them directly using a verified phone number).
  • Avoid sharing sensitive details over email. Email can be hacked or intercepted, so all bank wire information should be confirmed over the phone or in person.
  • When we help you initiate a bank wire, we always: 1) call to confirm the bank wire instructions verbally; 2) Prepare the paperwork required by your account custodian (most often Fidelity, TD, or Schwab) for you to physically or electronically sign.

FBI Scams and Safety Tips