A Public Movement for Reform
People lose life-changing money. Banks aren't required to check that the name matches the account. The system says it's our fault. We disagree.
A public movement pushing for modern protections, accountability, and reform. No legal advice. No harassment. No personal bank details.
The Problem
Innocent American families are destroyed as the epidemic of fraud related cyber crime explodes to over 800,000 cases a year!
Many people assume one simple safeguard exists: if the name on the wire instructions does not match the receiving account, the transfer should stop.
But research indicates that is not universally required.
“That may be efficient for the system. It can be devastating for people.”
Current protections often point back to UCC § 4A-207, a framework adopted in 1989 — before email-era fraud became what it is today. Courts have held in wire-transfer disputes that account information can control over the named recipient in certain circumstances. The rules were not written for the fraud environment we live in now.
So we are building something simple: a credible public record of stories that lawmakers, regulators, media, and the banking industry cannot ignore.
Our Story
This is why we initiated WireFraudFiasco. Emails are hacked. The scammer contacts a client posing as my firm and requests the client wire money into an account at Wells Fargo in the name of my firm.
Wells Fargo accepts the wires twice. The money goes in and is immediately transferred out. Calls are fruitless. We are left helpless. This should never have happened, and it shouldn't happen to you.
UCC Article 4A adopted. Rules written for a pre-internet world.
Business Email Compromise emerges. Wire fraud losses accelerate.
$12.5B lost. Core protections: still 1989.
Stay in the fight
Submit with your name, initials, or anonymously where available.
Facts, patterns, and pressure — that's how change happens.
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Not legal advice. We are not lawyers or affiliated with any law firm.