First Signs of Fraud
After compiling interview data from victims of scams, these are reported to be instances that indicated fraudulent activity.
Threatening calls
Victims of wire fraud are sometimes called falsely to alert them that their accounts have been compromised. They have expressed that these calls were significantly more threatening and reactionary than from their banks. If you receive concerning calls about your account from someone other than your bank, do not engage and separately reach out to your bank.
Specific, coercive payment instructions
Criminals sometimes require that you stay on the phone with them so that they can “help” with the process of wire fraud while you are at your local bank branch. Multiple victims have reported that these interactions are coercive. If you are in this situation, you can alert the bank teller and potentially receive advice on the validity of these interactions.
Suspiciously high return on investment
In situations of alleged investment advisors who are actually running scam operations, they often will lie about the returns on your investment. If your investment accounts, which victims have reported are sometimes on strange, previously unheard-of platforms, are growing at shocking amounts, it might be worth it to investigate the brokers or platforms.
Unusual fees
In the experience of those who have been scammed by either false investment opportunities or false instances of “winning” large sums of money, scammers often ask for strange fees. They have been asked to pay fees, taxes, or commission up-front from their own bank accounts directly to the criminals who told them about the alleged opportunities to profit.
Unexpected overseas wire destinations
Multiple victims have reported that the people who have scammed them required that they only use one type of platform to communicate. Rather than communicating via text messaging, the criminals have restricted their messages to other platforms or emails.
Mandated secrecy
If the person contacting you is allegedly in this country, it can be a red flag when they tell you that you must wire money overseas. This has happened in the experience of those who have been asked to wire significant funds, especially those who have been lied to and told their banking information was compromised. Check the validity of the location to which you are sending funds.
Unconventional messaging platforms
The family members and caregivers of fraud victims have been caught off guard by these instances because the criminals have told victims that they must not tell anyone about the transfer of funds. If you feel like you’re unable to tell even your closest family members, it might be worth it to use extra precaution when evaluating whether an opportunity is legitimate.