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dtw dtw is offline
GAFB
 
Join Date: Dec 1999
Location: Raleigh, NC, USA
Posts: 7,842
I have researched wire transfers and it seems to be the safest means of consummating large $ transactions. The key fraud risk seems to be unauthorized ACH debits. A best practice to prevent this and any other potential fraud is to open a new account for the wire transfer, consummate the deal, sweep the money back to a main account, and close the new account. Another thing I've done in the past is conduct transactions directly with the bank - with the client standing there in the bank - but with me on the phone providing account information directly to a verified bank rep. Client never handles my personal info.
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Old 01-12-2007, 06:31 AM
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