Canadian Anti-fraud Centre and U.S. Secret Service freeze fraudulent transfer

In a testament to the power of rapid international cooperation, the Canadian Anti-Fraud Centre (CAFC) and the United States Secret Service worked together to successfully freeze a fraudulent wire transfer before the funds could be stolen. The case began when a Canadian business reported a suspected business email compromise (BEC) fraud to the CAFC. The company had received what appeared to be a legitimate email from a trusted business partner requesting a change in payment details for an upcoming invoice. Acting on the request, the company initiated a significant wire transfer to the new account. Shortly after, the company became suspicious and contacted their business partner, confirming that the email was fraudulent and they had never requested the account change. The company immediately reported the fraud to the CAFC. Understanding the time-sensitive nature of wire fraud, CAFC analysts quickly gathered the relevant information including bank details, transaction information, and timeline. The CAFC then contacted the U.S. Secret Service, which has jurisdiction over financial crimes in the United States. Working through established protocols for cross-border cooperation, law enforcement was able to contact the receiving financial institution and freeze the funds before they could be withdrawn or transferred further. The money was subsequently returned to the Canadian business. This successful intervention was made possible by: prompt reporting by the victim, rapid information sharing between agencies, established international cooperation protocols, and coordination with financial institutions. This case demonstrates that while fraud often succeeds through speed and deception, quick reporting and international cooperation can successfully combat these crimes.