Avoid Remittance Scams: A Safety Checklist for International Transfers

Q: What is the most common type of remittance scam?

The most common types are romance scams (where a fake online relationship leads to a money transfer request), emergency impersonation (a scammer poses as a family member in distress), and overpayment scams (a fake buyer sends a fraudulent check and asks you to wire back the 'excess'). All three exploit urgency and trust.

Q: Can I get my money back if I was scammed on a wire transfer?

Recovery is difficult but not impossible if you act fast. Contact your bank within hours to request a wire recall. For transfers through services like Wise or Remitly, contact their fraud teams immediately. For crypto, contact the exchange. File a report with the FBI IC3 (US), Action Fraud (UK), or your national cybercrime agency. Recovery rates are low — under 3% for completed wires — so speed is critical.

Q: Is it safe to send money internationally using cryptocurrency?

Yes, when you initiate the transfer yourself through a regulated exchange. Coinbase, Kraken, and Gemini are licensed in the US and allow you to send USDC internationally with low fees and transparent costs. The risk arises when someone else asks you to send crypto — unsolicited crypto payment requests are a major fraud red flag.

Q: How do I check if a money transfer company is legitimate?

In the US, look up the provider in the FinCEN MSB Registrant Search at fincen.gov. In the UK, check the FCA Register at register.fca.org.uk. In the EU, the provider should be licensed by a national competent authority (e.g., BaFin in Germany, ACPR in France). A company that cannot be found in these registries should not be used.

Q: What should I do if I receive an unexpected request to change payment details?

Treat any last-minute change of bank account, wallet address, or payment method as a potential business email compromise (BEC) scam. Call the requester on a phone number you independently know — not one provided in the same message — to verify before making any change. This type of fraud costs businesses and individuals billions annually and is almost entirely preventable with a single verification call.

$10.2B — Lost to wire transfer fraud in the US in 2023 (FBI IC3)

Why remittance transfers are targeted by scammers

Stop immediately if someone asks you to send money to a new account 'urgently'

Part 1: Verify the recipient before you send

1. Verify the recipient's identity through a separate channel

2. Confirm the transfer provider is licensed and regulated

3. Check the transfer URL and app for signs of spoofing

4. Look up the exchange rate independently before confirming

5. Do not send to crypto wallets unless you initiated the contact

Legitimate provider vs. scam provider: key differences

Signal	Legitimate Provider	Scam Indicator
Regulatory status	Licensed by FCA, FinCEN, or equivalent — verifiable in public registry	No license listed, vague 'international registration', or unverifiable
Fee disclosure	Fees shown upfront before confirmation, itemized	Fees hidden until after transfer, or 'no fees' with no explanation
Exchange rate	At or near mid-market rate (check xe.com)	Unusually favorable rate with no clear fee structure
Contact method	You found them via app store, official website, or referral	They contacted you by email, text, social media, or dating app
Payment urgency	No time pressure; transfer can wait for verification	Must send 'within 2 hours' or 'today only' to get the rate
Recipient account	Stable, matches identity you verified	New account provided at last moment, or frequent account changes
Crypto payment request	Optional, initiated by you through regulated exchange	Mandatory, unsolicited, requested as the only payment method
Customer support	Phone, email, live chat on official domain	Only reachable via WhatsApp or email with free domain (gmail, yahoo)

Gift cards and wire transfers to strangers are never a legitimate payment method

Part 2: Recovery steps if you've already sent money

< 3% — Recovery rate for wire transfer fraud losses (FBI estimate)

Safe providers for legitimate international transfers

Compare safe, regulated providers for your corridor

Related guides

Frequently asked questions

What is the most common type of remittance scam?

The most common types are romance scams (where a fake online relationship leads to a money transfer request), emergency impersonation (a scammer poses as a family member in distress), and overpayment scams (a fake buyer sends a fraudulent check and asks you to wire back the 'excess'). All three exploit urgency and trust.

Can I get my money back if I was scammed on a wire transfer?

Recovery is difficult but not impossible if you act fast. Contact your bank within hours to request a wire recall. For transfers through services like Wise or Remitly, contact their fraud teams immediately. For crypto, contact the exchange. File a report with the FBI IC3 (US), Action Fraud (UK), or your national cybercrime agency. Recovery rates are low — under 3% for completed wires — so speed is critical.

Is it safe to send money internationally using cryptocurrency?

Yes, when you initiate the transfer yourself through a regulated exchange. Coinbase, Kraken, and Gemini are licensed in the US and allow you to send USDC internationally with low fees and transparent costs. The risk arises when someone else asks you to send crypto — unsolicited crypto payment requests are a major fraud red flag.

How do I check if a money transfer company is legitimate?

In the US, look up the provider in the FinCEN MSB Registrant Search at fincen.gov. In the UK, check the FCA Register at register.fca.org.uk. In the EU, the provider should be licensed by a national competent authority (e.g., BaFin in Germany, ACPR in France). A company that cannot be found in these registries should not be used.

What should I do if I receive an unexpected request to change payment details?

Treat any last-minute change of bank account, wallet address, or payment method as a potential business email compromise (BEC) scam. Call the requester on a phone number you independently know — not one provided in the same message — to verify before making any change. This type of fraud costs businesses and individuals billions annually and is almost entirely preventable with a single verification call.

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