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Sending money internationally has never been easier, but as digital payments become more popular, so do scams targeting unsuspecting senders. Fraudsters use various tactics to deceive people into transferring money, often pretending to be banks, employers, or even loved ones in distress.<\/p>
To help you stay protected, we’ve outlined some of the most common and most recent money transfer scams happening around the world and how you can avoid them.<\/p>
North America: Phishing Emails & Emergency Scams<\/h2>
On the rise in North America, phishing scams involve fake emails and texts pretending to be from your bank or a trusted company, urging you to take urgent action. These messages often contain links to fake websites designed to steal your login details.<\/p>
Another common scam is the emergency scam, where fraudsters pose as a relative or friend in distress, claiming they need immediate financial help. They might say they’ve been in an accident, lost their wallet or need urgent bail money.<\/p>
Tip:<\/strong> Always verify the sender’s identity before transferring money. Contact your bank directly if you receive an email or message about an account issue.<\/i><\/p>
South America: Money Laundering & Recruitment Scams<\/h2>
Fraudsters in South America often lure victims with \"job opportunities\" that involve handling money transfers. They ask individuals to send or receive money on behalf of others — without realising they are laundering stolen funds.<\/p>
How to stay safe: Never agree to move money for someone you don’t know. If a job sounds too good to be true, it probably is.<\/p>
Europe: Overpayment & Fake Job Scams<\/h2>
In overpayment scams, scammers send money to victims, then claim they \"accidentally\" sent too much and request a partial refund. But after the victim sends money back, the original transaction is reversed, leaving them out of pocket.<\/p>
Another common scheme in Europe is the fake job scam, where fraudsters post fake job listings that require applicants to pay a \"training fee\" or “visa processing charge.”<\/p>
Tip:<\/strong> Legitimate employers never ask for money upfront. Avoid sending refunds for overpayments — wait for the funds to fully clear before taking action.<\/i><\/p>
Africa: Lottery Scams & Advance-Fee Fraud<\/h2>
In Nigeria and other parts of Africa, lottery scams and advance-fee fraud remain common. Scammers claim you’ve won a big prize but need to pay a \"processing fee\" to receive it. Similarly, some fraudsters pretend to be officials promising inheritance payouts — if you just cover some minor costs first.<\/p>
Tip: <\/strong>If you didn’t enter a lottery, you didn’t win. Never pay upfront fees for winnings or unexpected “inheritances.”<\/i><\/p>
Asia: Investment Fraud & Crypto Scams<\/h2>
Scammers in Asia frequently target victims with fake investment opportunities. Promising \"guaranteed high returns\", fraudsters often lure people into Ponzi schemes or fraudulent cryptocurrency platforms, stealing funds once deposits are made.<\/p>
Tip:<\/strong> Always research investment platforms before sending money. If returns sound too good to be true, they probably are.<\/i><\/p>
Australia: Fake Charity & Donation Scams<\/h2>
Fake charity scams are particularly common in Australia, especially after natural disasters. Scammers pose as aid organisations, soliciting donations that never reach the intended cause. Tip: Only donate through verified charities. Check official websites before sending money.<\/p>
How to protect yourself from money transfer scams<\/h2>
No matter where you are in the world, these scams can strike when you least expect them. Here are some golden rules to keep your money safe:<\/p>
Only send money to people you know and trust.<\/li>
Be cautious of urgent or emotional requests. Scammers create a sense of panic to make you act fast.<\/li>
Verify sources before making a payment. Contact your bank, employer or the organisation directly.<\/li>
All ArticlesThe Cost of a Bad Hire: The Importance of Strong Values (Cultural Principles) in the Interview Process
The Cost of a Bad Hire: The Importance of Strong Values (Cultural Principles) in the Interview Process
2023-02-02
All articles
World Culture
Personal Finance Tips
Hiring the wrong employee can be a costly mistake for any company. Not only does it result in decreased productivity and morale, but it can also lead to increased turnover, missed opportunities, and damage to the company's reputation. The cost of a bad hire can be staggering, and it is crucial for organisations to take steps to minimize this risk.
Here at Paysend, we made a conscious effort to ensure that not only did we embed our Paysend 7 Cultural Principles (see below) into the business but to integrate them into the evaluation process when candidates are interviewing for roles within the organisation.
Having worked within the Recruitment / Talent Acquisition field for a number of years, I've witnessed on numerous occasions when Hiring Managers have introduced candidates to the recruitment team and put pressure on individuals to push them through the process (“I worked with them previously and they were a great person”, “They will bring loads of business to our company” etc). Here at Paysend, every candidate introduced is evaluated by the Talent Acquisition team against our 7 Cultural Principles prior to moving the candidate to the next stage of the process, ensuring that the next Paysender is exactly that - A true Paysender. The key - We're not afraid to push back if the candidate doesn't demonstrate the right Paysend principles.
We have been keen to have this process in place to make sure that these individuals who are in the interview process and potentially joining Paysend have demonstrated positive attributes against our principles, so that everyone internally are aligned and set up for success within the business.
Finally, it is important to consider the long-term impact of hiring a candidate who does not align with the company's values. While a candidate may seem like a good fit based on their experience and qualifications, if their values are not aligned with the company's values, the potential for conflict and disengagement is high.
Ultimately, the cost of a bad hire can be significant and is something that all organisations should strive to avoid. By focusing on values during the interview process, organisations can reduce the risk of hiring the wrong employee and increase the likelihood of hiring someone who will be a positive and productive member of the team. Strong values create a positive work environment, increase employee engagement, and drive success for the company.