What to Do in the First 24 Hours After a Wire Fraud

With wire fraud, time is everything. The funds are moving, and every hour reduces the chance of a recall. If you’ve just discovered a fraudulent transfer — whether a business email compromise or a scam payment — here is exactly what to do in the first 24 hours.

Hour 1: Contact your bank immediately

Call your bank’s fraud department right away and ask them to initiate a wire recall and a fraud notification to the receiving bank. For international transfers this is sometimes called a SWIFT recall. The earlier this request lands, the more likely the beneficiary account can be frozen before the money is withdrawn.

Hour 2–3: Notify the receiving bank’s fraud team

Your bank can flag the receiving institution, but a direct, documented fraud report adds urgency. The goal is to get the beneficiary account frozen while funds are still sitting in it.

Hour 3–6: Preserve all evidence

• Save the fraudulent invoice, email or message that induced the payment.
• Capture full email headers — they prove a business email compromise.
• Record exact amounts, dates, reference numbers and beneficiary details.
• Do not delete anything, even messages that feel embarrassing.

Hour 6–12: Report to the authorities

File a report with the relevant law-enforcement or national fraud-reporting body. An official report number is often required before banks and institutions will cooperate fully on a recall or freeze.

Hour 12–24: Lock down and get expert help

If the fraud came through a compromised email, change passwords and enable multi-factor authentication immediately — attackers often try to redirect a second payment. Then bring in a recovery specialist to coordinate the recall, document the fraud properly, and pursue any frozen funds.

What not to do

• Don’t assume it’s hopeless — many wire frauds are partially or fully recoverable when caught fast.
• Don’t pay any “fee” to a stranger promising to unlock the funds.
• Don’t wait “to see if it resolves itself.” It won’t.

The difference between a full recovery and a total loss is often measured in hours. Act fast, document everything, and get professional help coordinating the recall — that combination gives you the best possible chance.