Wire fraud is a serious offense that could harm your business. When you’re a victim of wire fraud, it means that you’ve been defrauded (or that someone attempted to defraud you) through some form of electronic communication. That could mean that you were defrauded by phone, over the internet or through other means.
One of the most common wire fraud schemes is a phishing scam in which someone tries to obtain your business’s financial information for theft or identity theft.
How do you know if you’ve been a victim of wire fraud?
Usually, victims don’t know until they see that they are missing money or that someone has used their identity in a way they didn’t authorize. To hold the accused accountable, a prosecutor has to show that:
- The person who committed the crime intended to defraud your business.
- The person used interstate wire communications to commit fraud.
- It is reasonable to think that interstate communications would be used to commit the crime.
“Interstate wire communications” is a broad term, which means that if your business was defrauded online, over a cellphone, through a landline or through Wi-Fi or other services, you may still be able to pursue a claim for wire fraud.
Your business can stay protected against wire fraud
Practicing good security measures can help protect your business against wire fraud. Deciding not to accept checks, for example, could help you avoid common scams. Similarly, using good online security protocols and limiting access to your business accounts can help minimize the risk of others defrauding you personally or through an employee. If you do suspect wire fraud, report it as soon as possible. You may still be able to protect your business and prevent losses.