Send Money From Singapore And Australia To Worldwide

The digital revolution has undoubtedly brought ease into everyone’s lives. Still, it has also brought some challenges that have to be tackled smartly to always be on the safe side in everyday life. One of the biggest challenges is to stay away from common money scams, particularly when sending money from Australia to the UAE. In the remittance game, the prime focus of expats is to look for a service that charges nominally, which is a sensible concern, but with that, keeping yourself aware of the most common scams relevant to money transfers is also a must.  It helps in not letting your money go into the wrong hands, and this blog lies at that theme; hence, reading it till the end is a must for you. 

 

Let’s Get into This Matter More Deeply

Yes, it is also concerning that scammers keep improving their methods of deceiving remitters as they strive to discern common fraudulent activities. So, being wise while sending money from Australia to the UAE is a must, along with being always prepared to tackle common money scams. Though everyone should be aware of possible money transfer scams, but those who use emails, text messaging, and other kinds of digital communication should stay more vigilant. An informative study in October 2022 by the messaging security provider SlashNext evaluated billions of link-based URLs, attachments, and natural-language messages in mobile, email, and browser platforms. It came up with a conclusion of 255 million attacks.  Remember that there was a 61% increase in phishing attacks compared to 2021. Now it is 2024, so one can easily understand how efficaciously scammers will have enhanced money transfer phishing methods to deceive remitters. 


Below are Some of the Most Common Money Scams Linked with Sending Money from Australia to the UAE


1- Family Emergency Scams

When a person falls prey to this type of scam, they are misled into believing that they are providing money to assist a friend or family member who is experiencing unexpected difficulties. Scammers take advantage of the victim's inherent concern for a person or thing that is important to them. Examples of these include being involved in a car accident, becoming stranded at an airport, or evading arrest. The con artist can make an urgent phone call while pretending to be a member of the family, a friend, a loved one, or even somebody in a position of authority, such as a law enforcement officer or a medical specialist.


Tips to Protect Yourself

·         Make immediate contact with a friend or loved one to confirm the emergency.

·         Take your time completing the transaction. Take time to check the details.

·         Requests for hurry or secrecy should raise suspicions.

·         Unknown callers or texts should be taken seriously.


2- Blackmail or Threat Scams

Threats and blackmail scams include con artists illegally collecting money from a victim through the use of coercion. In the event that the victim does not cooperate, the con artist threatens to cause them damage. In order to increase the level of intimidation, the con artist may include personal information in the email or phone call. In the event that you do not pay up, they may threaten to hurt you or your loved ones physically, claim to know where you live or work, and threaten to hurt you with bodily violence. In the event that the victim does not comply with the demands, con artists may even threaten to arrest them or even put them in jail.


Tips to Guard Yourself

·         Refuse to give in to the con artist's demands.

·         If you feel afraid or endangered, get in touch with law enforcement right away.

·         Unknown callers or texts should be taken seriously.

·       When disclosing personal details, use caution when providing information online or replying to unsolicited calls or messages.


3- Imposter Scams

An impostor scammer assumes the identity of a legitimate person and demands money to resolve a fictitious issue. In order to steal from the victim, scammers may also assume the identity of trustworthy company representatives (business impersonators) and makeup stories about fraudulent charges that need to be investigated or reimbursed. Their deceptive statements on unauthorized expenses, reimbursements, delivery problems, or other imaginary costs entice the target to provide private or financial data. Even customers' phones may be hacked by scammers in order to carry out illegal activities.


Instructions to Shield Yourself

·         When disclosing personal information online or in reply to unsolicited calls or messages, use caution.

·         Check the representative's or company's credibility.

·         Never give out financial details over email or phone.

·         Unsolicited correspondence from unidentified people or companies should not be trusted.


4- Immigration Scams

It's acceptable to be cautious at first if someone calls you claiming to be an immigration officer. Fraudsters might contact you and say there's an issue with your immigration paperwork, which can be resolved by sending money right away or by giving them access to your account. You should never reveal personal financial information, even if they threaten to deport you or even disclose personal information.


Methods to Safeguard Yourself

·         Never reveal any of your private or financial information to a person in whom you do not have complete faith.

·         Inform concerned authorities immediately about the phishing attempt through email or phone.

·         Don’t feel the pressure of scammer threats despite their massive intensity.


5- Marketplace Scams

Marketplace scams aim to profit from individuals who purchase and sell goods on Craigslist, eBay, Facebook Marketplace, and other websites. For instance, a fictitious customer may inquire whether they can pay with a cashier's check, money order, or personal check. The buyer sends a fictitious cheque or money order for more than the sale price if the seller accepts. The buyer will then request that the seller wire or transfer the remaining funds back to them. The cheque is revealed to be fraudulent once they proceed with wiring or transferring the funds. Furthermore, phony sellers may also attempt scams involving money transfers or wire transfers. In this variation, a con artist posts an enticing item for sale on an online marketplace.  If you show interest, they will request payment via wire transfer or cash and inform you that the item will be shipped after the funds are received.


Tips to Defend Yourself

·         When selling goods online, never take a cashier's cheque, money order, or personal cheque.

·         Process transactions only via sales platforms, and be suspicious of anyone requesting that you use an alternate method in order to avoid paying costs.

·         Verify the ratings and reviews for both sellers and purchasers.

·         Never consent to wire transfer payment for an item you purchase from an online marketplace.


Conclusion

Now, you are well aware of all the prominent money transfer scams in the remittance world globally and have explored ways to protect yourself from them. Remember that scammers are always on the lookout for more clever ways to deceive you at the time you send money from Australia to the UAE.

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Compliance

Speed Remit works diligently to prevent its systems from being used to perpetrate any unlawful activity. We protect our customers and prevent the use of our products or services by anyone for money laundering, terrorist financing, sanctions violations, scams, and fraudulent intentions. As necessitated, we work with law enforcement to apprehend and impeach offenders.

Speed Remit collect different types of personal information for legal and compliance purposes relating to you that may be Compliance information, including fraud prevention, identity verification, and sanction checks. This may further include using your personal information to validate and authenticate your identity, and utilising third parties to help us do so, using personal information needed to comply with legal and regulatory duties related to anti-money laundering and counter-terrorist financing; detection, prevention and prosecution of fraud and theft as well as preventing illegitimate or prohibited use of our services or other illegal or wrongful activity.

Onboarding customer Identity Verification

Speed Remit is a financially regulated company and required by laws to verify the information prior to onboarding customers. Below are the more information on our verification processes and policies for our onboarding customers.

1. Why does Speed Remit need to verify me?

1.1 Normally, we will only need to check/Screen your name, address date of birth and country of origin.
1.2 We may also do enhance due diligence (EDD) that will be depend on amount to comply with the sending country regulations.
1.3 We will contact you if we need anything from you, so please ensure you check your emails regularly after you’ve made your transfer. In very rare cases the funds remain undelivered in absence of any additional information required under the prevalent laws of the territories.

2. What ID is required for the country I’m registered in?

2.1As a financially regulated company we are required by laws to verify all of our customers. Part of this process is 'identity verification'. Usually this involves collecting a copy of Government issued Valid ID from you and you can upload your ID securely at any time for our screening / verification during registration process.
2.2 Please upload your ID front side and back side to complete your verification process.

3. .Is there anything I need to know before I upload my ID?

3.1 When submitting your ID, please make sure that it's a high quality photo or scan of a valid original government-issued ID card, and the image should be clearly displaying the below information:

- ID Number
- Your Photo
- Your Complete name
- Your Date of Birth
- ID’s expiry date
- The full machine readable zone (the two lines of letters and numbers at the bottom of the document) if present
- Resident Address

3.2 The complete name and date of birth must match with your details on your Speed Remit account.

3.2 If any details do not match, please contact the Speed Remit Customer Support team (sr.cs@speedremit.com) to have your details amended. For more information on this click "My Account" option

4. What types of ID can I use?

4.1 In case the Government issued ID card is not available incidentally at the time of registration / transaction, we may alternatively accept below ID's in case it is allowed your local central bank / financial regulator. At the end of the day, you must be holder of a valid ID even if you are unable to present it at the time of transaction.

- Driving License
- National ID
- Passport - All four corners of the document must be visible and it should visibly display the vital information.

4.2 Always upload the front and back of the ID or any alternate document (if any). The document number must be visible and there should be no glare or defocused image.
* Must match the details in your Speed Remit account

5. What is address verification?

Address verification is part of our customer verification.

5.1 If we need to verify your resident address we will contact you by email. You’ll need to reply to the email with your address and any proof of Address document as an attachment e.g. Last Utility Bill etc.

5.2 When submitting your proof of address, please ensure that it is a high quality photo or scan of a valid document showing:

- Your full name
o This must match what appears on your Speed Remit account
- Your full Resident address
o This must match what appears on your Speed Remit account

5.3 The name and address on the document must match the details on your Speed Remit account.

5.4 If any detail does not match, you can update them on our app or website by visiting the My Account Option of the Speed Remit.

6. What types of document you required to accept for address verification?

6.1 ID documents we can usually accept include:

- Utility Bill
o This can be a gas, electricity, water or insurance bills.
o We can’t accept mobile phone bills
o The bill must be no older than 3 months
- Driving Licence
o This must show your address
o This must be in date – we cannot accept expired documents
- Bank / Credit card statement
o This must be no older than 3 months

6.2 If your document is not accepted, it could be for a number of reasons. Some of the reasons documents cannot be accepted are:

- The date on document
o If the document is older than 3 months, we cannot accept it
- The details on your document
o The details (including name and address) on the document are not matched with information on your Speed Remit account
o The details must be for your home residence, not a PO Box or workplace
- The document type
o The type of document may not be one we can accept (for example a mobile phone bill)

7. What happens to my personal information after I upload it?

7.1 We only use these when we are completing Know Your Customer (KYC) checks, which is an essential process.

7.2 You can read more about our privacy policy and how we use your information here.

8. Need to send us your documents?

8.1 TIf we've emailed you and asked you to send us some documents, use the link in our email to upload your photo ID or selfie, and provide your proof of address by attaching it and replying to our email.

- To provide your photo ID or selfie: use the shared link in the email, or upload them here:
o Photo ID
o Selfie
- To provide your proof of address or any other document, reply to our email with your document as an attachment

Be our Agent

Speed Remit is expanding and intend to widen our presence in order to provide our customers with remarkable services across the world. We offer a great opportunity for worldwide regulated money transfer companies/ Banks to join speed remit Network as send and receive agent, simply fill in the form below. We’ll get back to you as soon as possible.