I am being asked to wire money to someone. How do I know this is legitimate?
Any time you wire money, it is important to research the recipient of the wire and the instructions surrounding the wire request to determine if it is a scam. Oftentimes it is as simple as typing “wire scam” combined with the name of the business you are researching into the browser. Fraudsters can pose as professionals who offer the opportunity of a lifetime. They often put pressure on their victims to act fast or miss out on large amounts of money. Once a wire has been sent, the funds are irretrievable so it is paramount that all research be done prior to sending the wire.
If you are being asked to wire money and you are unfamiliar with the business or individual, call 1 (800) 479-7928 to speak with a member service representative or speak with a branch manager. They can refer you to an investigator who can help you determine the legitimacy of the wire request.