- Wire fraud is the use of electronic communication with the intent to commit financial fraud.
- While wire fraud encompasses small-time crimes like phishing emails, it’s often attached to larger white-collar crimes like investment frauds or money laundering schemes.
- Wire fraud describes the method of fraudulent activity, while bank fraud describes the target of fraud.
No, you don’t have a long-lost uncle who wants to bequeath to you his immense fortune before he passes away. There is no wealthy tycoon who lost their passport while traveling and needs your help to get home. And no, a member of the royal family in a foreign country isn’t counting on you to sneak his fortune out of the country.
Often when we think about wire fraud, our mind jumps…
