YOUR Money

Should I wire money to someone I do not know?

Wiring money is like sending cash; once it’s sent, you can’t get it back. Con artists often insist that people wire money – especially overseas – because it’s nearly impossible to reverse the transfer or trace the money. You can file a formal complaint with the company used to wire the money, but know that recouping the loss is usually not successful.  Never wire money to strangers or someone you haven’t met in person.

This list includes:

  • Sellers who insist on wire transfers for payment
  • An online love interest who asks for money or a favor
  • Someone advertising an apartment or vacation rental online
  • A potential employer or someone who says it’s part of your new online job
  • Someone who claims to be a relative or friend in dire straits – often in a foreign jail or hospital – and wants to keep it a secret from the family

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