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The Best Ways To Avoid Money Transfer Scams in 2022

Money transfer scams are becoming more popular, yet there’s a lack of awareness when it comes to how these scams work. The process is simple: the scammer will offer a customer an unusually good deal for an expensive product or service to generate interest. Once they have their attention, they will use that interest to ask for payment in a different form and/or location. The user is then asked to send money via Western Union or other wire-transfer services, and eventually, the scammer receives their money while the innocent victim has lost theirs.

The most common scams in money transfers are fake offers from people who want to transfer money abroad. They send email messages or text messages to their potential victims asking for the account details of their bank where the money should be transferred into. The scammers then request a fee, which is usually located in a different currency than that of the original offer.

Money Transfer

Transfer money scams have been on the rise in recent years because of increased use of the internet and social media, availability of new high-tech tools, and unforeseen political events like Brexit. Scams are big business, up to US$1 trillion in some countries. For many people (particularly the very old, the very young, and those without education), scams are a way of life. The scammer’s goal is to identify a potential victim and then convince them that they need money urgently for an emergency.

The scammer might pretend to be someone who is in an urgent situation and ask for help from a person who has savings or credit card details or send fake emails of companies/agencies asking for bank account information. There are many ways scammers may want your money transfer, including email phishing scams, malware attacks on mobile phones that install malicious apps that send SMS messages with links to fraudulent websites to steal your confidential information and password, bomb hoaxes, etc. However, if you are safe enough, you can actually avoid the whole situation very well. If you want to know how do money transfer scams work, then follow along with this article.

No one is immune from scams. In fact, according to a report by the FTC, millennials lost more money to financial scams than seniors

FTC News 2020

If you’re someone who wants to protect your financial transactions, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

The Hazardous Effects of an Online Money Transfer Scam

100 dollar bill

One of the most frustrating aspects of living in the modern world is that it feels like we are constantly being bombarded by scam artists, and we don’t even know how to avoid money transfer scams. They come at us from all angles, using new and creative ways to try and steal from us. But, worry not! With this informative post, we have revealed some of the best tips for avoiding these scams without giving up any comfort or convenience in your life. Stay safe out there! There are plenty of precaution measures one could take to avoid these scams and to protect themselves against online scams and corruption.

At the same time, making transactions, make sure to always review transactions with a privacy filter. For securing access, one also opts for installing anti-virus software to avoid security breaches. Be cautious when sending a wire transfer. Ask yourself if the payee is a real person or not. Do not access online banking sites from public computers or open wireless networks. Always update security software on your computer if you have an active virus detection program on it, especially if you do business online and use email. Always trust your instincts, and do not be afraid to report suspicious activity to the authorities in your country. If you feel compelled to travel to a foreign country, visit online sites for useful tips on how to avoid scams while abroad.

credit card with laptop

Online banking has become a convenient and efficient method of managing transactions and sending money securely. With its growing prevalence, scammers have found new ways to steal your money. So, it’s worth being aware of just how much people are losing to online scams. The internet is a great tool for making money, but it can also be a great tool for losing money. For example, the FBI has estimated that people have lost more than $1 billion to online scams in 2018. This number is only going to increase as people become more reliant on technology and less aware of the risks.

There are many ways that people can lose money online, but one of the most common ways is through phishing scams. These scams typically involve an email or text message from someone who claims to be from a legitimate company like PayPal or eBay and asks for personal information. The information that you provide might then be used to steal your identity or hack your account. The first thing to know is that there are many different scams out there. From phishing emails to fake lottery scams, the internet is full of them.

The second thing to know is that people are losing more money from these scams than ever before. In 2016, people lost $1 billion from these types of scams, and the number continues to grow each year. Online money scams are a big problem for everyone – both for those who have been scammed and for those who haven’t yet been scammed but could be in the future. The more we know about how much people have lost from these scams, the better we can protect ourselves against them in the future.

10 Tips to Avoid Money Transfer Scams

A money transfer scam is an email scam that uses the pretext of a fraudulent transfer of money to lure in the victim. The goal of the scam is to trick the victim into sending money, usually through wire transfer or Western Union. The first email online money transfer scams were prevalent in Nigeria and Russia around the 1990s. In 2004, Nigerian email money transfer scam scammers and Russian money transfer scam scammers started using this type of fraud to target people from all over the world. They would send emails asking for help with a “family emergency” or telling recipients that they had won a prize and needed help paying taxes on it.

The most common form of this type of wire transfer email scam today is called “advance fee fraud.” It’s when someone sends an email with instructions on how to wire them funds because they are unable to access their bank account due to an email money transfer scam is a type of fraud that targets people who are looking to make an international payment. 

The scam typically starts with the victim receiving an email, which appears to be from their bank or a company they work with. The message requests that the victim send money in order to receive a large sum of cash or some other prize. The Nigerian money transfer scam is one of the most common types of scams, and it has been around for decades. It usually involves someone posing as a Nigerian prince who wants to transfer millions of dollars out of Nigeria and into your bank account in exchange for some help. These types of scams, such as walmart money transfer scams, walmart money card scams, and western union money transfer rent scams, can reoccur very easily, for if you want to avoid being a part of these scams, follow along. Here’s how to stay safe from them:


We have encountered victims who were mentally and emotionally drained when they were scammed out of their money. We can help you with your legal and technical concerns. We can help you get your money back.

1. Beware of Any Unexpected Contact

mail for phone

Scammers often pose as friends or family members in order to get your personal information and money. Protect yourself by being aware of these fraudulent schemes and never giving out your personal or financial information. When transferring money, it’s important to be aware of scam artists who may try to take advantage of you. To avoid any unwanted contact, only transact with people or organizations you trust. And be sure to guard your personal information closely. By being vigilant, you can protect yourself from falling victim to a money transfer scam.

2. Avoid Sharing Personal Data

facaebook on phone

In order to avoid wire transfer scams, never give out your personal information. The scammers will ask for your name, address, date of birth, and other personal details. Freedom Financial Network will never ask you for this information. This also includes your bank account number and Social Security number. Scammers will often try to contact you via email or phone in order to get this information. If you suspect that you may be the victim of a scam, please contact your local authorities immediately.

3. Always Have an Updated System

desktop applications

Keep your computer or device and virus protection software updated to avoid money transfer scams. Fraudsters often use old, unprotected systems to scam people out of money, so make sure you are using the most up-to-date security measures to stay safe. Be vigilant about any unexpected contact with people you don’t know, as this is often how scammers gain access to personal information. Fraudsters often use social engineering tactics to try and get money out of their victims.

If you’ve been a victim of money transfer scam you can contact us for support!

4. Always Opt for Strong Passwords

lock with laptop back

In order to keep yourself safe from bank money transfer scams, it is important to remember to never use an unexpected contact and to always have a strong password. This will help you to protect your funds and ensure that they are transferred securely. Whenever you need to transfer money, be sure to keep your password unexpected to avoid getting scammed. Keep your contact information private to avoid any unexpected contact. This directly enhances the durability and security of your accounts by twenty percent. You can opt for a personal memory of something that concerns your personal interest or pet peeve but make sure to keep a secretive passcode that most people don’t know of.  

5. Never Pay in Advance

Payment Scam

To avoid becoming a victim of a money transfer scam, avoid making any advanced payments. Many scammers will ask for money upfront in exchange for a promised payout, but they will never deliver. By keeping your payments to a minimum, you can protect yourself against these criminals. Be careful when transferring money online – many scams involve victims making advance payments. By waiting until the product or service is received, you can avoid being scammed.

When transferring money, it’s important to be aware of scams that can rob you of your hard-earned cash. One of the most common scams is when someone asks you to wire money in advance for some bogus reason. Avoid this by only transferring funds after you have received the product or service you paid for. 

6. Avoid Money Transactions with a Holding Account

online banking

In order to avoid becoming a victim of a money transfer scam, it is important to avoid advanced payments. Fraudsters often require these payments in order to wire money, which they will never do. By avoiding these payments, you can protect yourself from losing your hard-earned money. Holding accounts are very hard to track or monitor; hence if you pay with digital money or participate in any transaction, you will likely not be able to get the money back any time soon.

When transferring money to a holding account, be very careful to avoid any situation that requires you to make an advanced payment. Scammers often require these payments before they will release the funds being transferred, which can leave you out of pocket with no recourse. Stick to transfers through legitimate services, and you’ll be able to avoid these costly scams. Learn more about money transfer scams by visiting our website!

money and calculator

Key Takeaways!

To conclude all the content mentioned above, money transfer scams can happen in multiple ways and forms with variations of methods and tactics. In order to keep yourself, make sure to always monitor the flow of your money and keep track of your digital inventory while online shopping or transferring money to a friend via Paypal, cash app, venom, or apply pay.

This article consisted of information on multiple scams, the scammers’ tactics, and tips on avoiding these types of internal scams as many people have no idea on how to report money transfer scams or how to report individual money transfer scams. Most people are confused and ask questions like who can I talk to about money transfer possible scams? Hopefully, this article helped you with your queries. 

do you need help?

A lot of those who contact us have questions and concerns about their personal and business data being compromised. We aim to arm you with the legal and technical know-how in the fight against scams. Also, we will be able to refer you to top scam recovery agencies.

Please fill up the form. Rest assured that our support team will get in touch with you

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