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Tips to avoid wire transfer fraud

According to the Federal Trade Commission, there are approximately 9 million cases of identity theft in the U.S. every year. However, there are steps one can take to protect themselves from becoming a victim of fraud when sending money online.

The first step to sending money securely is to ensure that the computer you are using is safe. Using strong passwords and guarding personal information, such as your social security and credit card numbers, will cut your risk of having your identity stolen.

Keep an eye on your bank accounts and be sure to check your statements regularly. Should someone manage to tap into your account, it is essential that you identify the issue and inform your bank as quickly as possible.

If you plan on sending money online, inform your bank that you will be doing so. This will prevent your bank from freezing your account, and may also help the bank identify false usage of your funds.

Using a wire transfer service is a way to make sure that your account will remain safe and sound. When selecting a service, be sure that they have been approved by the Better Business Buerau and that the site is VeriSign secured.

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