Wire Transfer Scam

[flatwater bill]

I recently received a phone call from my banker. He said "Bill, I really need more documentation than a text message before I transfer $30,000 out of your account". Whoa! I said, What are you talking about? I never asked for $30K to be transferred out. So I went to the bank straight away, and he showed me a message, from me, that asked for a transfer to somebodies account......(swift code, numbers, etc), asking for $30K. Problem is, I didn't send it.
Here's the kicker: one week before I DID transfer $9K to Namibia, via South Africa, as a deposit on two hunts. Coincidence? Further, I had only $32K in the account....as if someone knew that.....I mean, if they had asked for $50K that would have sent up a flare. I am now, more than ever, reluctant to send a bank to bank wire transfer. (and BTW, the real transfer went thru fine)......is this a coincidence? Anyone else have it happen shortly after a legit wire transfer? ......FWB

 

[Scott CWO]

I recently received a phone call from my banker. He said "Bill, I really need more documentation than a text message before I transfer $30,000 out of your account". Whoa! I said, What are you talking about? I never asked for $30K to be transferred out. So I went to the bank straight away, and he showed me a message, from me, that asked for a transfer to somebodies account......(swift code, numbers, etc), asking for $30K. Problem is, I didn't send it.
Here's the kicker: one week before I DID transfer $9K to Namibia, via South Africa, as a deposit on two hunts. Coincidence? Further, I had only $32K in the account....as if someone knew that.....I mean, if they had asked for $50K that would have sent up a flare. I am now, more than ever, reluctant to send a bank to bank wire transfer. (and BTW, the real transfer went thru fine)......is this a coincidence? Anyone else have it happen shortly after a legit wire transfer? ......FWB

I have not had that problem but it sounds like the bank in SA or Namibia has a dirty employee or the bank has been hacked to get your information?

 

[Tokoloshe Safaris]

Our company has been hacked/scammed. It involved the following countries, Germany, Zimbabwe, USA, Nigeria. Guess which country the money ended up going to? It was not Zimbabwe. Lost it all.

Right now we are having a problem getting paid/ wire transfer. No bank wants to take money from a Russian bank?

 

[krish]

I some time worry about that. Some of my higher end puchases i do wire transfer either receive or send. Every finacial trsnsaction can be hacked. Escro may be the best way by an establisshed escrow company.
Krish

 

[geoff rath]

Great work by your bank, worth a "thankyou!". Mine is right on the ball, even with minor amounts of money; anything unusual, I get a message from them post haste.

 

[Fatback]

Appreciate the heads up. I’ve never had an issue with sending a wire transfer but this will give you pause. My bank requires that I come in and sign for the transfer to happen, I guess to keep situations like this from happening. Glad your banker caught it and you didn’t have a mess to deal with.

 

[375Fox]

I’m glad my bank makes me come to the bank in person to sign. The text from “you” is what scares me. I think it’s only going to get worse as AI develops. I see a new iPhone feature is going to allow you to clone your voice. Supposedly for persons losing their ability to speak in the future. Nice idea, I can’t imagine what unintended harm it will have.

 

[Tgood1]

A bank I use offered me an enhanced verification for transactions such as these. I have to go in person, sign off then later the corporate office calls me and questions all my verification info then it goes thru.

 

[Jondnov]

Yes my bank makes me go in person as well. I wonder if you get scammed if there is protection against this? Sorry FWB that you had to go through that. Glad your bank was able to catch it. Wish they would find the evil folks that do this and prosecute to full extent of the law. Thanks for the heads up.

 

[Justbryan]

My bank doesn't call me anymore to verify. I may open an account just to use for transfers and larger payments. I can make a deposit just prior to a wire transfer.

 

[Red Leg]

I can call in and do a transfer, but it requires a good bit of verification to enable it. We live in Texas and bank out of Northern VA, so driving in to sign something would be tricky.

 

[WAB]

I can call in and do a transfer, but it requires a good bit of verification to enable it. We live in Texas and bank out of Northern VA, so driving in to sign something would be tricky.

I’m in the same boat, but the verbal verification system would be virtually impossible to defeat.

 

[Rubberhead]

Your bank should have the bank of the destination account "flag" that account as fraudulent.

 

[Sue Tidwell]

I recently received a phone call from my banker. He said "Bill, I really need more documentation than a text message before I transfer $30,000 out of your account". Whoa! I said, What are you talking about? I never asked for $30K to be transferred out. So I went to the bank straight away, and he showed me a message, from me, that asked for a transfer to somebodies account......(swift code, numbers, etc), asking for $30K. Problem is, I didn't send it.
Here's the kicker: one week before I DID transfer $9K to Namibia, via South Africa, as a deposit on two hunts. Coincidence? Further, I had only $32K in the account....as if someone knew that.....I mean, if they had asked for $50K that would have sent up a flare. I am now, more than ever, reluctant to send a bank to bank wire transfer. (and BTW, the real transfer went thru fine)......is this a coincidence? Anyone else have it happen shortly after a legit wire transfer? ......FWB

Wow, this is so scary to hear. You just can't trust anything anymore. Thanks for sharing your experience.

 

[JimP]

With all that I have to go through to do a wire transfer I wouldn't think that something like this would be possible. Even after I answer all of my banks questions about knowing the person and where I got the swift numbers and everything they still want to know more about it.

I don't know if I would trust anything just over the phone even if they know me. It is so much easier just to open up a account at a local bank where you can transfer money to when needed to do a transfer.

I'm glad that my bank won't do anything like this just over the phone or with a email/text.

 

[Wheels]

Stories like this may be pushing us closer to a party-to-party type transaction system such as bitcoin or a stable coin and completely bypassing third parties like banks and the swift system.

 

[Newboomer]

Stories like this may be pushing us closer to a party-to-party type transaction system such as bitcoin or a stable coin and completely bypassing third parties like banks and the swift system.

I have to go in to my bank and fill out the paperwork and sign for any transfers. If anything unusual crops up anytime my bank notifies me. My credit card was hacked twice a few months ago by the same outfit. Real hassle to notify everyone and wait for a new card.

 

[Mark Biggerstaff]

To do a wire transfer in my small town bank you have to go in person and they fill out all the papers. Then about an hour later I usually get a call from the one who actually is processing it to confirm everything. Love my small town bank where they know you by first name when you walk in.

 

[flatwater bill]

I may not be communicating very well. My point is not that your bank won't send money based upon a text or email. Obviously mine won't either. And it's not that my bank isn't in a small town, or doesn't know me.....they do. Very well. The point is that a legitimate wire transfer to RSA was hacked by someone on that end.....and they probably still work there. That's the message.......FWB

 

[375Fox]

Stories like this may be pushing us closer to a party-to-party type transaction system such as bitcoin or a stable coin and completely bypassing third parties like banks and the swift system.

Unless we go back to physical gold and silver coins there will always be a 3rd party of some sort.