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Whether it’s someone you like or just a fun friend to chat with, online friendships can feel really special. After spending months—or even years—talking through apps like Facebook or WhatsApp, you may feel super comfortable with them. In fact, sometimes the connection can feel even stronger than with people you see in person. You laugh, share personal stories, and might even reveal secrets you wouldn’t tell your closest friends or family.
That kind of bond is powerful. But it can also make you vulnerable.
Imagine this: your online friend or crush suddenly says they need help. Maybe they’re starting a business, lost a job, or can’t make rent. They’re in a tight spot and “promise” they’ll pay you back. Sometimes, they say they’ll send you money first and ask you to forward it from your U.S. bank account. To make things more tempting, they might even offer to let you keep a little bit of it as a thank-you.
At first, it sounds harmless. You want to help someone you care about. But this is exactly when you need to pause and be careful.
Wire transfers can be useful for sending money quickly—but scammers know that once a wire is sent, it’s incredibly hard to reverse. That’s why it’s one of their favorite tricks. In many scams, criminals ask their victims to wire money directly to them. Or, they’ll send victims money and then tell them to forward it elsewhere.
In both situations, the person who sends the wire is at serious risk. If you send your own money, you might lose thousands of dollars. If you send someone else’s money—especially from a suspicious check or transfer—you could be acting as what’s called a money mule. That means you’re helping criminals move stolen money, even if you don’t know it. And yes, it could land you in legal trouble.
Wire fraud doesn’t just target individuals. Scammers often go after companies using clever tactics. One common method is called Business Email Compromise. In this scheme, criminals pretend to be someone important inside the company—like a boss or vendor—and send a fake email requesting a wire transfer.
The email might look real, and the instructions may seem normal. But when a worker sends the wire, the money actually goes to the scammer. These types of fraud can cost companies millions of dollars and damage relationships with trusted clients and suppliers.
According to the Federal Trade Commission (FTC), 42,729 reports involving wire fraud were made in 2023, leading to an estimated $344 million in losses to consumers (Brewer, 2024). That’s why staying alert is so important—these scams can happen to anyone.
To protect yourself, take a moment before sending a wire and ask these simple questions:
· Are they rushing you? Scammers often say the transfer needs to happen right away, pushing you to act fast before you have time to think.
· Do you know who you're sending money to? If you've never met them in person, or the name doesn’t match the person you’ve been chatting with, be extra cautious.
· Did they send you money first? If you're using funds from a check or transfer from someone you don’t really know, that could be part of a scam.
· Were you promised payment for helping? If it sounds too good to be true, it probably is.
· Are there spelling and grammar mistakes in their message? Sloppy writing can be a sign that the message came from a scammer.
· Did they ask you to lie about the wire's purpose? If someone tells you to make up a fake “reason” when the bank asks, it’s definitely suspicious.
If you handle finances for your business or assist with payments, these questions can help prevent costly mistakes:
· Does the amount match your records? Make sure the payment request matches what your company actually owes.
· Do you regularly send money to this person or business? If it’s a new recipient, be cautious.
· Did the payment info change? If wire instructions are different than usual, confirm them by calling a trusted contact—not using the phone number in the message.
· Is the request coming through the normal channel? If your company usually uses secure portals, and you get a wire request by email or text, double check.
· Are there spelling or grammar issues in the message? Even in business settings, mistakes can indicate fraud.
Here’s a simple rule to follow: Always stop and ask yourself, “Does this wire request make sense?”
If something feels off—even just a little—it’s worth digging deeper. Trust your instincts. They exist for a reason. When you’re unsure, reach out to someone you trust or call your bank. Banks have tools and expertise to detect fraud, and they can help you figure out if a request is real or fake.
Even having one extra person review a wire request with you can help you avoid being scammed or losing money.
The internet makes it easy to connect. But with that ease comes risk. Whether it’s a friend, a romantic interest, or a business partner—being asked to send a wire should always come with serious consideration.
So, remember:
· Don’t ignore red flags, even in close relationships.
· Rushed requests, grammar mistakes, and pressure to lie are common scam signals.
· Businesses should verify any changes in payment details using known contacts.
· A gut feeling is powerful—listen to it.
· Your bank is a trusted partner, not just a place to move money.
By slowing down, asking the right questions, and getting help when you need it, you can protect yourself and your business from wire fraud—and keep your money exactly where it belongs.
References
Brewer, E. (2024, March 08). Bank wire fraud – How social engineering and technology perpetrate fraud losses. Retrieved from Abrigo Blog: https://www.abrigo.com/blog/bank-wire-fraud-how-social-engineering-and-technology-perpetrate-fraud-losses/
