In 2018, homebuyers were the most common target for wire fraud. Sadly, this will probably remain true for years to come. It’s not difficult for a fraudster to fool any homebuyer, lender, or escrow company with an authentic looking email that provides instructions on how to transfer money to a fake account, usually internationally. It happens more often than you think, and that’s why it’s very important that victims know they have a way to fight back: The Financial Fraud Kill Chain (FFKC).

Here’s what you need to know about this tool for Americans who are victim to international wire fraud.

What is the Financial Fraud Kill Chain?

The Financial Fraud Kill Chain (FFKC) is an FBI initiative designed to help any victim of international fraud activity through email scams – like wire fraud in real estate – get their money back! The following must be true to initiate an FFKC action:

·      The transfer is $50,000.00 or more

·      The money was sent internationally

·      A SWIFT recall notice was initiated

·      The FBI is informed within 72 hours

How to Report Fraud to the FBI

All cases of fraud, even if they don’t meet the FFKC requirements above, should be reported to the FBI quickly. If you know that you’ve been a victim of this type of internet fraud, you should begin by promptly filing a complaint with the Internet Crime Complaint Center (IC3). Any form of email fraud similar to a real estate situation can be reported here, and this site is the place to make sure you’re reporting an FFKC situation within 72 hours.

Talk to Your Bank

It’s critical to understand how to get the FBI involved to get your money back, but it is also critical to communicate with your bank as soon as you realize there is a problem. To effectively utilize the FFKC, your bank may need to take some action — like making a SWIFT recall notice. Financial institutions deal with many cases of fraud, so there will be someone there to help you manage the process. You should be sure to mention the Kill Chain, though, and immediately ask that the FBI become involved.