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Recovering funds for a wire transfer fraud victim

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Question: 
If wire transfers are made to what has been described as a legitimate business to the customer, is it valid that the customer is not able to have their money insured and get it back if the business is not legitimate and the customer is defrauded?
Answer: 

Wire transfers are final the minute they are sent. A consumer has no protection when sending a wire that turns out to be sent to a fraudulent account.

First published on 01/19/2025

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