Wire fraud is one of the most expensive and damaging scams happening today. Criminals are getting better at impersonating trusted people and organizations, and once a wire transfer is sent, it can be extremely difficult to recover the funds.

At Michigan United Credit Union, we want our members to feel confident when sending money. Knowing what wire fraud looks like is one of the best ways to stay protected.

What Is Wire Fraud?

Wire fraud happens when a scammer tricks someone into sending money through a wire transfer by pretending to be a trusted source. This could be a real estate agent, title company, contractor, family member, or even your financial institution.

Scammers often use email, phone calls, or text messages to create urgency and convince you to act quickly.

Common Wire Fraud Scams

Wire fraud can show up in many forms, but these are some of the most common situations where scammers strike.

Real Estate and Home Closing Wire Fraud

This is one of the most well known wire fraud scams. A buyer may receive an email that appears to come from their realtor or title company with updated wiring instructions. The message may look legitimate, but the money is actually being sent directly to a scammer.

Business Invoice Fraud

Businesses are often targeted when scammers impersonate vendors or suppliers. They may send a fake invoice with new wiring instructions and request payment immediately.

Romance and Emergency Scams

Some scammers build relationships online and eventually ask their victim to wire money for emergencies, travel expenses, or medical needs. These requests often include emotional pressure and urgent timelines.

Account Impersonation Scams

Fraudsters may pretend to be from your credit union, a government agency, or even law enforcement. They may claim your account is at risk and tell you to wire money to a “safe” account.

Red Flags to Watch For

Wire fraud often has warning signs. Be cautious if you notice any of the following.

A sudden change in wiring instructions
A request to keep the transfer secret
High pressure to send money quickly
Emails with unusual wording or spelling errors
A sender email address that is slightly different than normal
Requests for payment through wire transfer instead of a normal method
Someone refusing to verify instructions over the phone

How to Protect Yourself From Wire Fraud

The good news is that wire fraud is preventable if you slow down and verify before sending money.

Always confirm wiring instructions by calling a trusted number you already have on file. Do not use the phone number listed in an email or text.

If you are buying a home, confirm wire instructions in person whenever possible. Ask your realtor or title company what their process is and how they deliver wiring information.

Never send money based on an email alone. Even if the message looks official, scammers can spoof email addresses and logos.

Be cautious of urgent requests. Scammers rely on panic and pressure to prevent you from thinking clearly.

If something feels off, trust your instincts and pause the transaction.

What To Do If You Think You Sent a Wire to a Scammer

If you believe you have been a victim of wire fraud, act immediately. Time matters.

Contact Michigan United Credit Union right away
Request that the wire be recalled or investigated immediately
File a report with your local police department
Report the fraud to the Federal Trade Commission at reportfraud.ftc.gov
If the fraud involved a home purchase, notify your realtor and title company immediately

Stay Alert and Stay Protected

Wire fraud is serious, but awareness is your best defense. Scammers are skilled at making their messages look real, but taking a few extra minutes to verify details can protect you from major financial loss.

If you ever receive a suspicious request involving a wire transfer, contact Michigan United Credit Union before sending money. We are here to help you protect your accounts and your peace of mind.