Protect Yourself from Wire Transfer Fraud | Horizon Bank

Last year, the FBI’s Internet Crime Complaint Center reported over $16.6 billion in losses from internet enabled fraud - much of it due to wire transfer scams that hijack your wiring instructions

How wire transfer fraud worksScammers target emails with your legitimate wiring instructions, then send a modified message with new directions; steering your funds into their accounts before you realize.

Why wire transfers are vulnerable

• Speed & finality. Once sent, wires are nearly impossible to reverse.
• Process gaps. Small lapses in internal controls or untrained staff can be exploited.
• Immediate availability. Funds hit the recipient’s account right away, making recovery difficult.

How to protect yourself from wire fraud

• Personally verify every request. Call the sender using a known number. Never just reply to the email.
• Watch for phishing red flags. Be suspicious of messages from free email services (Gmail, Yahoo) or last minute changes in wiring details.
• Enable account alerts. Sign up for real-time notifications in Online Banking for wire and ACH activity.
• Act immediately. If something seems off, contact us right away to pause transactions and start recovery.
• Flag unusual activity. Immediately investigate any unexpected transfer requests.

By staying aware and cautious, you can better protect yourself from evolving identity theft scams in 2025. Always double-check before acting - if something feels off, it probably is!