In 2014, the Supreme Court clarified in Laughlin v. You may also be charged with additional fraud offenses depending upon the methods used to obtain bank account information or to initiate the transfer of money using wires. Obtaining bank account information to institute fraudulent wire transfers may be done through phishing, hacking, or using a variety of online and offline methods.īecause wire fraud generally involves an attempt to defraud a financial institution or to unlawfully obtain money from a financial institution using false pretenses, misrepresentations, or false promises, you may also be charged with bank fraud as defined by 18 U.S. Obtaining bank account information and wiring funds without the account owners permission is also an example of prohibited bank transfer fraud.Claiming that someone’s family member is in trouble and money must be wired immediately to provide assistance can lead to wire fraud charges. Using false pretenses to coerce someone to send a wire transfer is just one of many examples of wire fraud.Scheme has been interpreted broadly and wire fraud laws apply to many different situations in which you are accused of fraud involving wiring money. Code Section 1343 defines wire fraud as using wire, radio, or television communications as part of a scheme or artifice to defraud. Wire transfer fraud is considered a type of wire fraud. Laws Prohibiting Bank Wire Transfer Fraud In fact, you may face multiple federal charges if you have been accused of involvement in a wire transfer scam.Īn experienced wire transfer attorney can provide legal advice and assistance with accusations of wire transfer fraud so you can attempt to avoid the serious penalties that can go along with this offense. Wire transfer fraud is a federal offense. In fact, as many as 60 percent of all fraud attempts in the United States reportedly feature a wire transfer. government considers some of the transactions that take place to be fraudulent. While most of these transfers are completed with no issue, the U.S.

There are more than 130 million wire transfers that take place each year. In 2012, more than $600 trillion of money was moved via wire transfer. Understanding the Charges of Bank Transfer Fraud and Scams

Examples of wire frauds