Wire Fraud: How to Verify Wire Instructions Before You Send Money

Wire fraud is one of the most common and costly crimes in large transactions. A criminal gains access to an email account, or creates one that looks almost the same, and sends "updated" wire instructions. The money goes to the criminal's account and is usually gone within hours.

The firm's rules

• The firm never publishes its trust account details on a website.
• Wire instructions are given by the attorney directly.
• The firm never changes its wire instructions by email. Any message saying the firm's bank details have changed is fraudulent.
• Before sending funds, call (714) 782-7275 and confirm the instructions with Bahram Madaen.

Steps that protect you

1. Call to confirm. Use a phone number you already know or find independently, never one in the email.
2. Look closely at the sender. Look-alike addresses differ by a single letter.
3. Be suspicious of urgency. "Send today or the deal is off" is a warning sign.
4. Send a small test amount for a new payee, and confirm it arrived by phone.
5. Protect your email with a strong password and two-step sign in.

If it happens

Call your bank immediately and ask it to recall the wire. Report it to the FBI at ic3.gov. Speed matters: recovery is much more likely within the first 24 to 72 hours.