The first hours count
Call your bank immediately and ask it to attempt a recall of the wire and to alert the receiving bank to the fraud. Ask for the fraud department rather than general customer service, and get a reference number. Report the transfer to the FBI's Internet Crime Complaint Center as well, because in some cases law enforcement can work with banks to freeze funds that have not yet moved. Speed matters since wired funds are often moved out of the receiving account quickly. Delay can narrow the practical chances of recovery and, in some situations, weaken your position with the bank.
Why banks often push back
Many people expect the bank to reimburse them and are surprised when it declines. Federal consumer protections for electronic transfers are aimed mainly at unauthorized transfers, meaning ones you did not make or approve, and many wire transfers fall outside those protections altogether. When you sent the wire yourself after being deceived, the bank's response usually depends on its own policies, the account agreement, and the rules that govern wire transfers, so reimbursement is far from automatic. Questions can still be raised about whether the receiving bank ignored warning signs when it opened or ran the account, or whether a title company, lawyer, or business partner whose email was compromised bears some responsibility. Those claims depend heavily on the facts.
Building a recovery picture
Keep the email chain with the fraudulent instructions, including header information if you can export it, and the wire confirmation showing the receiving bank and account. Identify who else was copied on the messages and whose mailbox may have been compromised. We look at where the money went, who may share responsibility, and whether a claim against an intermediary or an insurer is realistic. Sometimes the honest answer is that recovery is unlikely, and we will tell you that early so you can make decisions with clear information. Wire fraud victims are also frequent targets of follow-up recovery scams, so treat unsolicited offers of help with caution.
