Financial Fraud Kill Chain
The FBI offers a process named the Financial Fraud Kill Chain (FFKC) to help recover large international wire transfers that are stolen from inside the United States. The FFKC is just one tool people can use to try and recover stolen funds. It’s important to follow all procedures and attempt all avenues to recover finds if you are the victim of wire fraud.
The FFKC has a few requirements before it can be used.
- The wire transfer is $50,000 or more
- The wire transfer is international
- A SWIFT recall notice has been initiated
- The wire transfer has occurred within the last 72 hours.
All wire fraud occurrences should be reported to law enforcement, even if they do not meet the requirements listed above. The FFKC is just one of the many tools that can be used to recover funds. RELAW, APC reminds everyone that wire fraud is growing and becoming a lot more common. Everyone needs to be vigilant and do their part to combat this crime. Even if funds are fraudulently stolen, there are many tools to attempt a recovery?
Reprinted from a newsletter by Jennifer Felten, Esq.