Be Aware of Wire Scams!

Protect Yourself Against Wire Scams

  • Only wire money to people you know or recipients you have verified.
  • Verify ALL wire requests that you receive by calling to confirm wire instructions when wiring money or funding an investment.
  • Never wire money to a stranger who says they work for a government agency (like the IRS) or a well-known company (like Amazon).
  • Wiring money is like sending cash – once it’s gone, you probably cannot get it back.

You May Be the Target of a Scam if the Requestor: 

  • Sends you wire instructions via email (ex. Loan closing – always verify details by phone).
  • Contacts you unexpectedly.
  • Claims there is an emergency and must pay immediately.
  • Has typing or grammatical errors.
  • Only accepts payment via wire, gift cards, or crypto currency. 
  • Tells you to “keep it secret” or instructs you “how to answer questions at the bank”.
  • Makes an offer that sounds too good to be true.
  • Asks for your personal information. 
  • There is little to no organization, structure, or standardized professional process. 
  • Is unable to answer any requests for verification due to technology or distance.

Known Common Wire Scams

Family Emergency

“Grandma, I’m in trouble – I need money fast.”

Imposter

“I’m with the IRS, and you owe back taxes. If not paid immediately, a lawsuit will be filed against you.” Or, “This is Amazon and we need to verify an iPhone purchase on your account.”

Investment Opportunity

“This is a once-in-a-lifetime opportunity with a big payout!”

Romance / New Friend

“I want to meet you in person, but I can’t afford to travel. Can you send me money?”

Amazon Scam

“Someone is attempting to buy a $1,000 iPhone on your account. Call us back at 123-456-7890.”

Overpay

“We’ve paid you too much, can you wire the extra $500 back to us?”

Apartment Rental

“This low price is only available today. Wire over $1,000 for the first month’s rent and security deposit to lock in the low rate!”

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and Our Fee-Only Fiduciary Advice

Call: (920) 785-6010
Visit: www.EndowmentWM.com

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