Remittance

Remittances are funds sent home by migrants and overseas workers to support family members. Globally, remittances represent hundreds of billions of dollars annually and are critical to the economies of many developing nations. Services used include bank wires, specialist providers (Western Union, MoneyGram, Wise), mobile money platforms, and informal hawala networks.

The remittance corridor is targeted by several fraud types. Scammers contact recipients claiming there is a problem with an incoming transfer and request fees, taxes, or account details before releasing funds — all fraudulent. Fraudsters also impersonate remittance services with fake apps or websites that capture login credentials.

Legitimate remittance services will never ask recipients to pay a fee before receiving funds. All fees should be disclosed to the sender upfront. If you receive an unexpected call claiming to be from a money transfer company asking for payment, do not pay and verify directly with the service.