Q&A: What Are the Risks of Wire Transfers?

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By: Bill Henry
PublishedFeb 22, 2019
1 minute read

What are the risks of wire transfers?

Unfortunately, wire transfers have become more risky lately. Once upon a time, wire transfers were probably the safest way anyone could ever transfer money. But the risks now in the age of email and identity theft are that someone will convince someone who has the ability to send money that they are someone who they’re not. And once they have information that allows them to gain access to account documents or transactions then there’s only a few more steps before they could get their hands on the money and disappear to another country.

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