Fraud on Transferwise account

Peter3473 wrote on Wed Feb 17, 2021 12:03pm:

I am so sorry to hear about your problem and hope you get back what is rightly yours, Thank you for posting this unfortunate episode in your life, as you have been so helpful to others on this website, I wish you all the best, stay safe and healthy. Peter. 

Kimmy11 wrote on Wed Feb 17, 2021 11:12am:

Hi all,

I've just picked up this notification from Facebook and wanted to ask others who, like me, have a Transferwise account to be extra vigilant using their accounts:

Read more...

"TRANSFER WISE WARNING..FRAUD..I have used transferwise for many years in Spain to transfer GBP to Eur and have always been very happy with rate and service. Two weeks ago I made a transfer. Logged in with password and received passcode via mobile to enter my account. Secure and normal. For first time, rather than default to my account I was asked to enter my IBAN. Did not overthink this, thought it may even be a Brexit thing. I then carried on with the transfer. Having used the service for so long I thought no more about it. Transfer completed as normal confirming money transferred to *account name*.  Today I made another transfer but noticed that the target/default account (on first page), although in my name, showed last four digits which I did not recognise. My true account was in the line below and I selected this and successfully completed the transfer. I then contacted Transferwise due to my suspicion re the unknown account. I was informed that my previous transfer earlier in the month had actually been paid into this unknown, to me, account with Sabadell in Barcelona. This account had only been opened on the day of the transfer. I have only ever held one account in Spain and never with Sabadell. Hindsight is a great thing and obviously I wish I had checked my Spanish account on line to confirm money arrived, but after very many successful transfers over the years it did not cross my mind. Just a heads up for anyone using money transfer companies. Would also be very interested to hear if anyone else has been unfortunate enough to fall victim to this scam. Matter currently passed to Transferwise fraud team, but not sure when I will hear more. Would also be grateful if this post could be shared to other relevant groups, of which I am not a member, to make as many people aware as possible."

Current responses on Facebook don't suggest a wide-spread problem, but forewarned is forearmed!

Take care,

Kim

dinnerout wrote on Wed Feb 17, 2021 3:57pm:

Wow! Very interesting Kimmy.

I don't have a Transferwise account, at least I don't think I do? I log in to their website using my password then use the service which remembers my Sabadell bank account. It asks me to select that account if it's where I want the money transferred to.

Read more...

The fraud you've described sounds quite sophisticated and without knowing more details suggests the victim's phone may have been hacked.

Was the fraudulent transfer using the website as I've described above, or was it a differently configured account?

Steve

Kimmy11 wrote on Wed Feb 17, 2021 11:12am:

Hi all,

I've just picked up this notification from Facebook and wanted to ask others who, like me, have a Transferwise account to be extra vigilant using their accounts:

Read more...

"TRANSFER WISE WARNING..FRAUD..I have used transferwise for many years in Spain to transfer GBP to Eur and have always been very happy with rate and service. Two weeks ago I made a transfer. Logged in with password and received passcode via mobile to enter my account. Secure and normal. For first time, rather than default to my account I was asked to enter my IBAN. Did not overthink this, thought it may even be a Brexit thing. I then carried on with the transfer. Having used the service for so long I thought no more about it. Transfer completed as normal confirming money transferred to *account name*.  Today I made another transfer but noticed that the target/default account (on first page), although in my name, showed last four digits which I did not recognise. My true account was in the line below and I selected this and successfully completed the transfer. I then contacted Transferwise due to my suspicion re the unknown account. I was informed that my previous transfer earlier in the month had actually been paid into this unknown, to me, account with Sabadell in Barcelona. This account had only been opened on the day of the transfer. I have only ever held one account in Spain and never with Sabadell. Hindsight is a great thing and obviously I wish I had checked my Spanish account on line to confirm money arrived, but after very many successful transfers over the years it did not cross my mind. Just a heads up for anyone using money transfer companies. Would also be very interested to hear if anyone else has been unfortunate enough to fall victim to this scam. Matter currently passed to Transferwise fraud team, but not sure when I will hear more. Would also be grateful if this post could be shared to other relevant groups, of which I am not a member, to make as many people aware as possible."

Current responses on Facebook don't suggest a wide-spread problem, but forewarned is forearmed!

Take care,

Kim

Portet wrote on Wed Feb 17, 2021 11:55pm:

I don't really understand what has gone on here maybe because we don't have the full details but it all sounds a bit confusing. How a transferee was set up by the provision of your own IBAN is strange. Are we clear it is not operator error? What have TW fraud team said?