Money transfer – advice when sending money to somebody you don’t know

Using a money transfer service is a way to send money to people that you know and trust. Money transfer providers offer fast, convenient and reliable options for consumers to send and receive money worldwide.

Money transfer services are often used by fraudsters in connection with many types of fraud including:

  • Advance Fee Fraud – Paying money for a promise of wealth (419 Fraud)
  • Criminal Cash-Back, Cheque/Draft Overpayments, Shipping and Escrow frauds
  • High Yield Investments, Share and other Investment Frauds
  • Identity Fraud - is someone using your identity?
  • Internet, Advertising, Auction and On Line Fraud
  • Lotteries, prizes, awards , miracle cures, clairvoyants and other scams  - mass market fraud
  • Social Networking - online dating and 'honey traps'
  • Vehicle buying and selling
  • Working from home scams/financial intermediaries – money mules

Whilst the receiver of the money has to produce ID, fraudsters use forged documents and give false addresses in order to collect the money, which is then untraceable.

Our Advice

  • Never let a fraudster educate you on how a money transfer service works - only take advice from the money transfer company.
  • Never ignore the warnings or make false statements on money transfer documents. The information is there to protect you.
  • Do not pay for items bought on line, including via Auction sites, using a money transfer service. Providers of money transfer services are not responsible for the satisfactory receipt of goods or services paid for by means of a money transfer.
  • Never share details of a money transfer with a third party to prove the availability of funds. Doing so may enable the money transfer to be paid to that third party. This is known as a ‘Proof of Funds’ fraud.
  • Many people become victims of fraud due to a relationship they have over the Internet. This may be persuasive selling or a long term ‘honey-trap’ romance lasting months.
  • The advice is simple: Never send money to, or share details of a money transfer with, somebody that you do not know.