What to do if you sent money to a scammer?

What to do if you sent money to a scammer?

What To Do If You Wired Money to a Scammer

  1. If you sent money using a wire transfer company like MoneyGram or Western Union, contact that company right away. Tell them it was a fraudulent transfer.
  2. If you sent the wire transfer through your bank, contact them and report the fraudulent transfer.

How secure are bank transfers?

As a method of sending money from one account to another, bank transfers are inherently safe. Always ensure you trust the person or organisation you are sending money by bank transfer to. Double-check that you have the correct information for your recipient, including the account and sort number.

Is there buyer protection with bank transfer?

If you pay for something online via a bank transfer, there is very limited protection if things go wrong. In this case, the fault doesn’t lie with the bank, so they are under no legal obligation to compensate you. It will be up to you to contact the seller and try to organise a refund.

Can I cancel a bank transfer?

You may be able to cancel a money transfer but it depends on the circumstances. The money hasn’t been deposited or picked up by the recipient, and you paid for the transfer less than 30 minutes ago. Or, if you scheduled the transfer in advance, you can cancel the transfer up to three business days before it is made.

Do you have to declare e-transfer?

An international electronic funds transfer means the transmission of instructions for the transfer of funds, other than the transfer of funds within Canada. Reporting entities must report only EFTs of $10,000 or more.

Report the fraudulent transaction to the company behind the money transfer app and ask if they can reverse the payment. If you linked the app to a credit card or debit card, report the fraud to your credit card company or bank. Ask if they can reverse the charge.

Who is the biggest scammer in the world?


  • Gregor MacGregor, Scottish con man; tried to attract investment and settlers for the non-existent country of Poyais.
  • Bernard Madoff, creator of a $65 billion Ponzi scheme, the largest investor fraud ever attributed to a single individual.