With everything being sent digitally these days, the number one question on everyone’s minds is: “How can I trust that my personal information is going to be kept secure and private?”
It’s a common concern. Last year, 53 percent of online consumers stated that they were more concerned about their online privacy than they had been a year prior. With a new breach in the news seemingly every day, these concerns aren’t going anywhere anytime soon.
We’ve got good news for you. When you send money internationally through a secure provider, there are numerous measures in place to ensure that your money and information will stay secure and arrive where you want it, when you want it.
What keeps my money safe?
During a money transfer, no physical money is moving. The money “moves” as a result of a secure information exchange. But how can you trust that your money will be secure if you make an Xe transfer?
- Strong, enterprise-grade security measures. We are registered with numerous financial authorities across the world and comply with rigorous regulatory standards in every country that we facilitate transfers for.
- Years of trustworthy transfers. We have processed over $115 billion in 170 countries for over 112,000 clients. We know the money transfer business, and we are committed to creating a perfect transfer experience for our customers.
How can I avoid potential security pitfalls?
Many people imagine cyber-attacks and data breaches as the work of brilliant, sophisticated hackers who can swipe our information without us even knowing. The reality is much less glamorous. According to IBM’s most recent Cost of a Data Breach Report, 24 percent of the world’s data breaches are caused by human error.
Many of these breaches are the result of phishing emails, in which scammers fraudulently send emails to entice the recipients into revealing personal information or making a money transfer. You may have seen the following:
- A loved one has gotten into some trouble abroad, and they need you to transfer money ASAP to avoid further trouble.
- You’ve committed some ambiguous misdeed, and now you’re in legal trouble. If you don’t transfer money, you could end up behind bars.
- Your boss or another executive from your company needs you to send them money for some big project. They can’t tell you the details, but it’s urgent, so do it quickly or risk the consequences!
It’s not always pleasant to think of ourselves as being at fault, but this does mean that there’s a lot we can do to prevent ourselves from being victimized.
Here are a few simple strategies for avoiding money transfer scams and fraud:
- Stay calm. Many phishing schemes and other attempts to fraudulently obtain your data create a sense of urgency and rely on you not thinking critically in your state of panic. Before initiating a transfer or providing your information, take a deep breath and take a moment to really think about the situation. Does it make sense? Odds are, it doesn’t.
- Verify with the sender. If you receive a suspicious (or even a non-suspicious) message from a colleague or family member asking for a money transfer, check with them before initiating the transfer or providing them with anything else sensitive.
- Never give out personal information on an unsecured page. Xe and other money transfer operations will not ask for personal information over email. If you receive an email that seems suspicious, contact us directly to discuss whether the email is legitimate.
If you make an online money transfer through an experienced, secure provider, you can trust that your money and your personal information will remain secure throughout every step of the process.
Still have questions about the money transfer process? Take a look at our step-by-step guide.