Wire transfer

Fake check schemes, or advanced fee check cashing fraud, are one of the most common scams that criminals use to trick victims into giving away their hard-earned money. It's so popular that it was named the number one scam of 2009 by the National Consumers League.

MoneyGram International, Inc., has agreed to pay $18 million to settle federal charges that the money transfer service allowed itself to be a conduit for con artists who allegedly bilked people out of tens of millions of dollars. The money will be used to help consumers recoup some of their...

It's no secret that fraud is on the rise these days, and the troubled economic times have led even more people to latch on to the possibility of a quick buck. One common scam is a form of wire transfer fraud known as advance fee fraud, in which the mark is given a check for a large amount, asked to...