Definition - What does Wire Fraud mean?
Wire fraud is fraud that is committed using electronic mediums such as wires, computers, or televisions. Wire fraud involves using these mediums to cheat or scam people out of their money or property. Wire fraud is illegal. Those found guilty of it can face punitive consequences from the legal system.
Justipedia explains Wire Fraud
It is very common for people committing wire fraud to attempt to trick other people into giving them access to sensitive information such as bank accounts and PIN numbers. Once the scammers have access to this information, they can access their victims money and send it to themselves. This type of wire fraud is often committed through fake telemarketing calls, or through phishing scam emails. Often, the emails will claim to be from people such as Nigerian princes looking to give away money.
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