When you see a warning signs for wire transfer fraud, the good news is that you can protect yourself by being alert to typical scams and taking some simple self-protection steps. If you do need to wire money overseas, using a reputable provider like OFX will get your money where it needs to be safely and securely.
At OFX, we’ve taken a multi-layered approach to your security because we don’t want you to fall victim to scammers. A combination of SSL encryption, fraud prevention, and identity protection means you can enjoy the benefits of our services while resting easy. So tell those scammers to scram because you’re too smart to be fooled by their tricks.
Wire transfers are one of the most efficient ways to transfer money overseas, but is it safe to wire money? The simple answer is yes. Usually.
The risks associated with wiring money are, in part, a result of the efficiency of the method for sending funds. Wire transfers can often be completed within one business day by providers like OFX. But once the funds are received by the overseas party, it’s very difficult to retrieve them if you discover a problem.
You can increase the safety of your money wire by following some simple guidelines: