11 Common Money Transfer Scams and How to Avoid Them
Wherever there is money involved there are always scams. This guide will help you avoid money transfer scams.
Trust & Safety Center
Enhance your online safety knowledge with confidence — welcome to our Trust & Safety Center. This comprehensive resource is designed to keep you informed and empowered with expert tips, tools, and guidance to identify, report, and safeguard against scams. At Remitly, we are dedicated to helping you protect what matters most to you.
What is a scam?
A scam is a deceptive scheme intended to trick you into giving away money or personal information. An individual with harmful intent might gain your trust by pretending to be a family member, love interest, financial expert, or government official.
What is a romance scam?
In a romance or dating scam, the victim is tricked into thinking they’ve found true love online. Scammers play with your emotions, pretending to be interested in a romantic relationship. They use flattering words and stolen pictures to win trust and affection.
Once they have the victim hooked, they ask for money or gift cards. They might claim it’s for a plane ticket to meet up, to cover unexpected medical expenses, or to make an investment for the future together. They prey on the desire for love and companionship, making it hard to say no.
How you can protect yourself from romance scams:
- Trust Your Instincts: If something feels off, take a step back.
- Stay on the App: Scammers often try to move conversations off dating platforms quickly to avoid detection.
- Be careful if you're lured into investing “for your future together”: Romance scammers often gain your trust, then introduce an investment opportunity as part of building a life with you.
- Verify Their Story: Verify the person’s identity by doing a reverse image search or asking for a video call.
- Be Cautious of Love Bombing: Scammers often use "love bombing" to overwhelm you with excessive compliments, grand promises, or declarations of love early on. While it may feel flattering, this is a common tactic to lower your guard and build quick trust. Take your time to get to know someone and be wary if they push for intense emotional closeness too soon.
- Avoid Sending Money: Requests for financial assistance, especially early on, are a major red flag, even if the person appears to be in a dire situation.
- Learn to Spot AI Deception: Scammers may use AI-generated text or images to seem more authentic. Look for inconsistencies in their communication or overly polished profiles.
Protect yourself from:
What is an “It’s Me” Scam?
This is a type of scam where scammers impersonate a trusted person, such as a family member, police officer, lawyer, or company representative. Their goal is to pressure the victim into handing over money by fabricating an emergency, such as a legal settlement or accident.
These scams typically begin with a vague or urgent phone call, prompting the victim to assume the caller’s identity. By creating panic or confusion, the scammer gains the victim’s trust and rushes them into sending money without confirming the details.
How you can protect yourself from an “It’s Me” Scam:- Install a nuisance call-blocking device to automatically reject suspicious or unregistered numbers.
- Don’t give out personal information, bank details, or PIN numbers over the phone—even if the caller seems to know you.
- Set a family password or code phrase in advance to confirm identities during real emergencies.
- Always verify the caller’s identity by hanging up and calling the actual family member using their known number.
- Stay calm and take time to think. Scammers rely on panic to pressure you into acting quickly.
What is an investment scam?
This is a type of scam where fraudsters use fake investment ads—often featuring celebrities—to lure victims into sending money. They typically make contact through social media or messaging apps, build trust through repeated messages, and then request transfers under the pretense of “investment funds” or “fees.” Victims may end up sending money multiple times before realizing it’s a scam.
How you can protect yourself from an investment scam:- Be wary of ads with celebrity names or “guaranteed profits.” These are common scam tactics.
- Don’t trust investment offers from strangers online, even if they seem friendly.
- Watch for red flags, like being asked to send money to personal accounts or if the account changes frequently.
- Avoid unregistered investment services—check registration with Japan’s Financial Services Agency.
- Ignore pressure tactics like “only for you” or “without a doubt.”
- Never share personal or financial info with a stranger, and consult someone you trust before sending money.
Report a scam
If you suspect you may have been scammed, our specialized team is standing by to help. Click the button below to get in touch.
External scam resources
Recommended hotlines from the National Police Agency:
- Think you may be a scam victim? Call the National Police Agency’s helpline at #9110 for assistance, or visit their Scam Webpage for more information and resources.
- Need to report suspicious investment offers, such as unlisted stocks? Contact the Japan Securities Dealers Association at 0120-344-999.
- Have information about a scam attempt—even if you weren’t tricked? You can anonymously report details about the suspect by calling 0120-924-839.