Protect Yourself from Fraud, as we take your safety on a priority. It’s our prime obligation to warn and protect our customers as well as the systems from becoming an instrument for fraudulent activities. Managing fraud risks is a key objective for ACE Money Transfer. ACE wants to protect its reputation as a reliable global provider of money transfer services. Moreover, ACE will take action against any form of criminal activity, whether it is money laundering, the financing of terrorism, or fraud.

Knowing what to look for is the key to spot the warning signs of a scam and then avoiding it. Our Customer Fraud Awareness Guide is to warn and protect customers from becoming an instrument for fraudulent activities. There is no foolproof way to prevent fraud awareness, but hiding your personal information from unknown people is the best defense.

How to Protect Yourself

Following are the tips that will help keep your money safe from fraudsters and scams..

  • Protect your computer and mobile devices with up-to-date security software
  • Only enter your card details on secure sites - check the web address begins with ‘https’ and that there’s an unbroken padlock symbol in the browser address bar
  • Register with the verified Visa / MasterCard Secure Code
  • Use PINs or passwords that are hard for someone to guess. For example, use a mix of letters, numbers and symbols for passwords. Change your PIN or password immediately if you think someone may have discovered it.
  • Be aware of opening attachments or clicking on links in emails or texts that you are unsure about.
  • Never let someone take your card away to process a transaction.
  • Block and report any lost or stolen cards immediately
  • Know who you’re buying from before giving your card details online or over the phone
  • Avoid entering your card details on public computers
  • Always log out after the online transaction and save the confirmation email as a record of your purchase
  • If you’re unsure of what you’re being asked to do, we urge you to take your time and don’t rush.

By telling a credible story, fraudsters motivate their victims to transfer money to unknown and unreliable receivers. Fraudsters Gain Your Trust, and then Steal Your Money..

They use any means to contact victims—telephone, snail mail, email, and other online sources. They gain your trust, and when they have you hooked, they ask you for money; then they take it and run..

But you can protect yourself as well as your friends and family members with knowledge of the most common types of fraud. Make sure you verify the information, before you transfer the money, and confirm it with your family/friends..

Identity theft and account takeover

Identity theft is a crime where a fraudster obtains personal information that they can use to steal your money. Fraudsters may attempt to use the details of your credit cards, loans, state benefits, mortgages and documents such as driving licenses and passports. Alternatively, fraudsters may try to gather enough information about you in an attempt to gain access to your existing accounts or services

Remote access fraud

You may be contacted out of the blue, by a fraudster impersonating someone else, typically a computer, internet or telecoms company or by anyone else. They may explain that they’re calling about slow internet speed or a potential virus on your device. During the call, they’ll encourage you to run program’s and download software to help identify and solve the issue..

If you download software, what you’re doing is installing a program. This allows them to have remote access to see your screen and take over your device. This may even make the screen blank so you can’t understand what’s happening. They’ll then convince you to reveal your passwords or access your Online or Mobile Banking, sometimes saying they’ve credited your account with a refund and want to check it’s arrived. Once you’ve signed in they may be able to access your accounts and personal details..


Increasingly, fraudsters are resorting to convincing people to disclose their personal and confidential details through phone calls. They do this by pretending to be from the bank, the police or other legitimate organizations, and taking advantage of the person’s trust in that company. This is known as ‘vishing’ (voice phishing)


‘Phishing’ is the most common way of obtaining online banking details. This is when you receive bogus emails asking you to confirm your security details. The links in these emails take you to fake online banking websites that record your information, which the fraudsters then use to access your account. These emails can also be used to infect your computer with viruses, Trojans and spyware..

Investment fraud

Following the “get rich quick” approach, Scam artists play off the emotional desire for people to meet their goals. They offer them an opportunity to make an extraordinary amount of money in a short period. This is appealing, given no other investment seems to accomplish that goal..

In this circumstance, you get a cold call from a broker pretending to offer you the opportunity to invest in a variety of schemes or products that are either worthless or don’t even exist..

Online shopping scams

Online shopping scams involve scammers pretending to be legitimate online sellers, either with a fake website or a fake ad on a genuine retailer site. While many online sellers are legitimate, unfortunately, scammers can use the anonymous nature of the internet to rip off unsuspecting shoppers.

Your Responsibility

While we will do our best to protect you against fraud, it’s your responsibility to be alert when it comes to scams and tricks. Before buying online, do some research into the vendor to check whether they are credible, and evade those with poor ratings or not. You need to be sure who you are paying, as well as what you are paying them..

Check your statements: This will assist you in making sure that the correct amount has been deducted, and that it is going to the right place. If you think you’ve been scammed or you’re being targeted, you should also contact Action Fraud, a government organization closely associated with the police. You can find further details about fraud on their website..

Note: This handbook is solely for the awareness of our customers and does not create any legal binding on ACE Money Transfer. Do write to us on if you think you have been a victim of a fraud or scam..