There was a time when wire transfer was the only way to send money across all domains and sectors of the banking industry. Thankfully, with the advancement of technology, we are seeing newer methods of money transfer. Unfortunately, First Option Recovery has found out that there are certain people who have been taking advantage to the age old system of money transfer and making many people fall into the trap of money wire transfer scams. They are often posing as charity organizations or some caretaker of a distant relative and then they are asking for money to be sent via wire transfer into an offshore account. Once the money has been transferred, the victim is unable to trace the account and get his or her money back.
First Option Recovery is a fund recovery group that is dedicated to eradicate all kinds of money wire transfer scams across the globe. We have a dedicated team of 120+ attorneys, who have worked in over 3000+ cases and have recovered more than $19 million so far. Our client base includes victims of all kinds of scams be it crypto scam, binary scam, forex scams or even money wire transfer scam. So far we have worked with over 2400+ clients, some of whom are repeat clients as well.
What is the money wire transfer scam?
Certain con artists will contact you about some mishappenings that have happened to you or them, and then ask to donate some money to them. These include fake charity organizations running fake fundraisers, or the scammers posing as a different person who is in dire need of money. Also, sometimes there are certain people who mail you that you have won a multi million dollar lottery and you need to wire them a small token amount as a means of processing money. Owing to your emotional discipline not being on the stronger side, you end up wiring the money and the damage is done. You have successfully become just another victim of another money wire transfer scam. First Option Recovery suggests its customers to never transfer money based on email offerings or what a person calls and says via a phone call. Only after proper verification can he send the money.
Types of Money Wire Transfer Scams
When you are trying to purchase something online, you often make payments via an escrow service. If the seller is directly asking for money into his bank account, there is a high chance of it being a scam. First Option Recovery recommends you to never pay for a service upfront if the payment is not handled by an escrow service.
Phishing (Million Dollar Lottery Scams)
This is the most common money wire transfer scam where you will be sent an email that you have won a million dollars as a lottery and you are required to send in your bank account details as a reply. Instead of directly transferring the money, you will get an email citing that the company needs a small amount of money as processing fees. Many people fall for it and end up losing a few bucks.
Charity Money wire transfer scams
Humans make decisions based on emotions and then justify them with logic. Same is the case of charity events where the con artists call you saying that there is some random charity there to end world hunger and it would be great if you could donate some money for it. First Option Recovery has found out that such scams have increased due to the coronavirus pandemic as scammers are asking money as wire transfers and entwining people into money wire transfer scams.
What to do if you are a victim of any Money Wire Transfer Scam?
The first thing that you need to know is that you are not alone when it comes to losing funds due to the Money Wire Transfer Scams. There are thousands like you and we at First Option Recovery have helped all of them. We, as a fund recovery group, have helped all major victims of money wire transfer scams get their money back and deposited directly into your bank account. Hence, if you have been a victim, we highly suggest you to contact us so that we can get back to you at the very earliest.