Scammers may pretend to be your relatives or friends, urging you to wire money immediately to help them with an emergency.
If you have to pay a fee in advance for a guaranteed loan or credit card — you’re dealing with a rip-off.
This video shows some common money wiring scams, and what happens to some people who meet the scams.
Lisa finally won the lottery. The caller told her, “You’ve won millions! Now just wire $400 for taxes.”
Eddie sold his camera online. But the buyer sent Eddie a check for more than the selling price. He asked Eddie to wire him the extra cash.
Henry found a listing for the perfect rental house. The owner told him to wire the deposit, and she would send the house keys.
Anita’s grandson called to say his wallet was stolen in London. He begged her to send money – but not to tell his mom.
What happens next?
Well, Lisa sent the $400 to collect her lottery prize, but she never got her winnings. She lost $400.
Eddie called his bank. They said the cashier’s check was probably fake – and they were right. Eddie didn’t deposit the check. He didn’t send the money back, and he sold his camera to someone else.
Henry wired the deposit for his perfect house. He never got the keys. And when he went to the house, the owner told him it wasn’t even for rent. Henry lost his deposit.
Anita called her daughter. Her grandson was in college 50 miles from home, not in London. And he wasn’t the one who called her.
Both Eddie and Anita knew to investigate before sending money. Lisa and Henry learned to do that for the future.
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