Payment red-flag check before you wire money
Tick the warning signs that apply to a payment, from pressure to pay now to changed bank details, and see a risk meter based on the FTC's wiring advice.
Official source: US Federal Trade Commission, What To Know Before You Wire Money. Checked
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A correct code is not a safe payment
People often look up a SWIFT code because someone asked them to send money. The code can be perfectly valid and the payment still a scam. The FTC says that once a wire is sent you usually cannot get the money back and that wires lack the dispute protections of card payments (FTC).
The signs in the check
From the FTC page: a caller claiming to be a government agency or a well-known company, pressure to pay immediately, being told a wire is the only way, a telemarketer asking for a wire, paying someone you have never met, fees to receive a prize or a check, and a frantic call from a relative (FTC). We add one business check: bank details that changed by email or message.
How the meter works
Each sign carries a weight, higher for the strongest signs. No ticks means no listed red flag; a few means check before paying; more means stop. The weights are ours, not the FTC's.
If you already paid
The FTC says to contact the wire service or your bank immediately, report the transfer as fraud, ask for a reversal and report it at ReportFraud.ftc.gov (FTC). Speed matters. See also wire transfer scams.
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