Forensic Wire Fraud Investigation & Analysis

Expert Investigations into Complex Wire Fraud Schemes

In today’s business environment, the impact of wire fraud is growing at an alarming rate. In 2023 alone, the FBI IC3 (Internet Crime Complaint Center) received a total of 880,418 complaints, leading to $12.5 billion in lost funds. Wire fraud can result in significant financial losses, disruption of business operations, reputational damage and more.

While wire fraud is not a new crime, the approaches used by cybercriminals are continually evolving and are even beginning to leverage generative AI technology in applying deepfakes. In a recent case, one finance worker was tricked into wiring over $25 million to fraudsters because of a deepfake video. Forensic Discovery experts have been providing forensic wire fraud investigation & analysis services for decades and we keep up with the latest techniques used by criminals to target organizations, collecting and analyzing data to connect the dots in wire fraud transactions. Forensic Discovery is how we help you catch the wire fraud perpetrators!

Scope of Services

At Forensic Discovery, we specialize in investigating wire fraud incidents and providing detailed forensic analysis to help recover stolen funds and hold perpetrators accountable. Our expert team is equipped to handle even the most complex wire fraud cases, ensuring that you have the support and expertise needed to navigate these challenging situations.  Here’s how we provide wire fraud investigation & analysis services to our clients:

Types of Wire Fraud Incidents We Investigate

Wire fraud can take many forms, and our team is experienced in investigating a wide range of wire fraud schemes, including:

• • Business Email Compromise (BEC): Fraudsters impersonate executives or trusted partners to trick employees into transferring funds to fraudulent accounts.

• • Real Estate Wire Fraud: Criminals intercept communications between real estate agents, buyers, or sellers to redirect closing funds to unauthorized accounts.

• • Invoice Scams: Fraudsters spoof supplier or vendor email addresses, providing false invoices that direct payments to fraudulent bank accounts.

• • Phishing and Spear Phishing: Cybercriminals use fake emails or websites to gather confidential financial information, later used to commit wire fraud.

• • Charity Fraud: Scammers pose as charities or non-profits to solicit wire transfers from well-meaning individuals or organizations.

• • Investment Fraud: Fraudulent schemes that deceive individuals or companies into wiring funds for fictitious or misrepresented investments.

• • Romance Scams: Criminals exploit personal relationships or online dating platforms to convince victims to wire funds under false pretenses.

Our Wire Fraud Investigation & Analysis Process

Our forensic wire fraud investigation process is thorough and designed to uncover every detail of the fraudulent activity, including identifying responsible parties and tracing the movement of stolen funds. Steps in our investigation & analysis process include:

• • Initial Consultation & Case Review: We begin by conducting an in-depth consultation to understand the details of the suspected fraud and the impact on your business or personal finances.

• • Data Collection: We collect all relevant information, including bank statements, emails, logs, and other communication records, to piece together a timeline of the fraud.

• • Forensic Analysis: Using advanced forensic tools and techniques, we analyze the data to uncover patterns, track fraudulent transactions, and identify any digital footprints left by the criminals.

• • Tracing Funds: We trace the path of the stolen funds through the banking system, often following multiple transfers across jurisdictions, to locate where the funds were transferred.

• • Identification of Perpetrators: Our investigators work with law enforcement and financial institutions to identify those responsible for the fraud, using digital forensics, IP tracing, and other techniques.

• • Incident Reporting: We provide a detailed report of our findings, outlining the timeline of events, how the fraud occurred, and the individuals or entities responsible.

• • Recommendations & Recovery: Based on our findings, we offer recommendations for recovering lost funds and safeguarding your organization against future fraud attempts.

Forensic Testimony for Legal Proceedings

Our role doesn’t end with the investigation. We provide expert forensic testimony to support legal actions or law enforcement efforts in cases of wire fraud. We can:

• • Present Clear, Detailed Findings: We provide comprehensive, easy-to-understand reports of our findings, which can be used in court or other legal proceedings.

• • Expert Witness Testimony: Our forensic experts are available to testify as expert witnesses, explaining the details of the fraud investigation and our conclusions.

• • Support Civil or Criminal Litigation: Whether your case involves civil litigation for fund recovery or criminal prosecution, we offer the forensic support needed to bolster your case.

Our commitment to thorough investigations and clear communication ensures that our clients have the evidence they need to seek justice and recover their assets to the extent possible.

Signs You’ve Been a Victim of Wire Fraud

It’s not always easy to recognize wire fraud, but there are certain warning signs that indicate you may have been targeted:

• • Unexpected Requests for Fund Transfers: You receive an urgent or unexpected request from a vendor, partner, or executive asking you to wire money to an unfamiliar account.

• • Altered Contact Information: Emails, phone numbers, or other contact details related to a payment request appear different than usual or include minor, unnoticeable alterations (e.g., missing or changed characters in email addresses).

• • Last-Minute Changes to Payment Instructions: A partner or client requests changes to payment details at the last minute, particularly without prior conversation.

• • Funds Disappeared Quickly After Transfer: Once the wire transfer is made, you notice that the funds have been immediately moved to multiple accounts, making them difficult to trace.

• • No Acknowledgment of Payment: After sending a wire transfer, you don’t receive confirmation from the legitimate recipient, or they report not receiving the funds at all.

If you notice any of these signs, it’s essential to act quickly. The faster wire fraud is detected and investigated, the better the chances of recovering lost funds.