Summary: Wire fraud can drain thousands of dollars in moments. Extra verification, close attention to details, and strong security practices help protect businesses from fraudulent transfers.

A single fake message can redirect thousands of dollars in seconds.

That's why extra verification is essential when it comes to wiring money.

One – Email verification alone is inadequate. Instead, call the requestor at a number you’ve independently verified.

Two – If the instructions change, assume it’s fraud. Hackers often respond to emails with updated instructions for wiring money.

Three – Examine email addresses closely, and use secure, business-managed accounts for sensitive transactions.

Four – Watch for common red flags, like mismatching account names or accounts listed in a different location than the requestor.

To protect your accounts, regularly update your passwords, using complex sequences with numbers, symbols, and varying letter capitalization.

Vigilance is the best protection. Ensure your employees and your customers know what to look out for.