Fake Investment Yield Scams Collecting Funds via Wise
Fraudulent investment platforms instruct victims to send funds via Wise as part of a high-yield investment scheme, collecting deposits they will never return.
Part of: Fake Staking and Yield Scams
Last reviewed: 1 June 2026
Wise (formerly TransferWise) is a legitimate international money transfer service used widely for low-fee cross-border payments. Fake investment scammers direct victims to send Wise transfers to accounts they control because Wise is fast, multi-currency, and less associated with traditional banking red flags than a direct wire.
Victims who question the payment method are reassured that Wise is used for low fees and currency conversion efficiency. The funds arrive in the scammer's account with no buyer protection and no reversal mechanism once the transfer is initiated.
How this scam works on Wise
A victim is recruited into a fake crypto staking or forex trading platform that promises monthly returns. After a free 'test period' showing simulated profits, they are invited to deposit via Wise to an account presented as a corporate treasury. The deposited funds never grow toward the displayed balance — the balance shown is entirely fabricated.
Some schemes direct victims to first buy USDT on an exchange, then send it to a Wise account that 'converts' it — in reality, the funds are simply stolen at the conversion step.
Affiliates of the scheme are paid commission from victim deposits to recruit further investors, extending the pool before the eventual exit.
Common red flags
- Investment platform asks for a Wise transfer to a personal or unfamiliar account
- Returns shown on the platform dashboard are not verified by any independent audit or blockchain record
- Withdrawal requests are declined, delayed, or subject to endless new requirements
- Wise transfer recipient is an individual name rather than a registered company
- The platform was recommended via social media or a messaging app rather than a regulated financial adviser
- No verifiable regulatory licence for the investment platform in any jurisdiction
How to protect yourself
- Only use regulated investment platforms authorised by a recognised financial authority in your jurisdiction
- Verify platform registration with your national financial regulator before depositing any funds
- Never send investment funds via Wise to a personal account
- Test withdrawal of a small amount before committing larger sums to any platform
- Consult an independent, registered financial adviser before making any significant investment
- Report platforms promising unusually high returns to your national financial regulator
How to report it
- Report the fraudulent investment platform to your national financial regulator as an unauthorised scheme
- Contact Wise's fraud reporting team with recipient account details so they can investigate
- File a cybercrime complaint with your national authority including all Wise transaction references
Frequently asked questions
Can Wise reverse a transfer sent to a scammer?
Wise can attempt to recall a transfer if reported before it reaches the recipient's account. Once funds are received by the recipient, Wise cannot force a return. Report fraud to Wise immediately and file a complaint with your national financial authority to support any investigation.