This is a YouTube video titled "WATCH OUT For Scammers When Wiring Money" containing a spoken explanation about the importance of verifying wiring instructions by phone to avoid scams, particularly in investment contexts. The speaker warns about email interception scams and advises caution when wiring money to ensure it goes to the correct recipient.
Verify on the phone the wiring instructions. And Vanguard and most other reputable places will ask and actually demand that you confirm those wiring instructions in person or by phone, or they won't send the wire. They will ask you how you verified the wiring instructions. And the wrong answer is by email because it can all be hacked. You know, one of the worst scams out there are people that start intercepting emails and they eventually get you to give them your bank account information to a white coat investor. A few years ago, they were investing into a real estate investment and they ended up emailing mistakenly with a scammer and they wired their investment money into the scammer's bank account. And the problem with the wire, Right, the money's now in their bank account. They pull it out, they close the account, they disappear, the money's gone. And so you got to be real sure that you're wiring it to the right place.
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