You may have come across the sort of scam where someone wants to "buy" something you're selling. But they send you a much larger check. "Please send us the extra/surplus", they say. Or, "the rest is for shipping, send that to X, they'll pick up the item". Then when the check works its way through the system, is found to be fraudulent, the transaction gets reversed.
Wiring money is something outside the norm in the US banking system. I think if it were more common, then ACH fraud would be far more common.
Anecdote: When I wanted to wire money (overseas), the hassle at my bank was plenty. Every piece of paper had in huge letters "this could be fraud! Once this transaction happens, the money is gone! Forever!" (slight exaggeration).
You may have come across the sort of scam where someone wants to "buy" something you're selling. But they send you a much larger check. "Please send us the extra/surplus", they say. Or, "the rest is for shipping, send that to X, they'll pick up the item". Then when the check works its way through the system, is found to be fraudulent, the transaction gets reversed.
https://www.fdic.gov/consumers/consumer/news/august2019.html
Wiring money is something outside the norm in the US banking system. I think if it were more common, then ACH fraud would be far more common.
Anecdote: When I wanted to wire money (overseas), the hassle at my bank was plenty. Every piece of paper had in huge letters "this could be fraud! Once this transaction happens, the money is gone! Forever!" (slight exaggeration).