# Before you send money: checklist and red flags

> What a valid SWIFT code or IBAN cannot prove, the details to confirm before a wire, and a red-flag check built on the FTC's advice on wiring money.

- Page: https://swiftcodelookup.com/payment-red-flag-check/
- Official rule or bank page: [US Federal Trade Commission, What To Know Before You Wire Money](https://consumer.ftc.gov/articles/what-know-you-wire-money)
- Read on: 2026-10-30
- Registry data as JSON: https://swiftcodelookup.com/data/payment-red-flag-check.json

The checker on this page runs in the visitor's browser and applies published rules only: the BIC format of ISO 9362, the Swift IBAN Registry and the modulo 97 test.

## A correct code is not a safe payment

You may be checking a SWIFT code because someone asked you to send money. The code can be perfectly valid and the payment still a scam. The FTC says wired money is like cash: once you send it, you usually cannot get it back ([FTC](https://consumer.ftc.gov/articles/what-know-you-wire-money)).

## What a format check shows, and what it cannot

| A format check shows | It cannot show |
|---|---|
| The code has an allowed length and allowed characters | That the code is assigned to anyone. Many well-formed codes are not |
| The country code is a real one | That the code is still active. Swift marks the codes of closed organizations as expired rather than deleting them ([Swift FAQ](https://www.swift.com/swift-resource/252025/download)) |
| An IBAN's check digits add up | That the account belongs to the person you mean. A fraudster's IBAN passes too |
| The parts of the code | That the organization is legitimate. Swift's FAQ says a BIC gives no guarantee about the organization's activities ([Swift FAQ](https://www.swift.com/swift-resource/252025/download)) |

## Checklist before you send

Our own practical advice, not taken from the sources:

1. **Get the details from a source you already trust**: the invoice or contract you agreed on, or the payee's bank details page. Not from a message that arrived out of the blue.
2. **Run the code through the [BIC checker](https://swiftcodelookup.com/) and the [IBAN checker](https://swiftcodelookup.com/iban-checksum/).** Add the BIC next to the IBAN: the tools tell you if they point to different countries or banks.
3. **Look the BIC up in [Swift's BIC search](https://www2.swift.com/bsl/)** and compare the institution name with the bank the payee says they use.
4. **If the details changed, phone the payee** on a number you already had, and read the new details back to them. A change of bank details by email is a common pattern in business payment fraud.
5. **For a first or large payment,** wire a small test sum before the rest and wait for the payee to confirm it arrived.
6. **In the euro area,** read your bank's payee name check result. A "no match" on a known supplier is a reason to stop and call ([verification of payee](https://swiftcodelookup.com/verification-of-payee/)).
7. **Keep a copy** of the details you used and the payment confirmation.

## The signs in the red-flag check

From the FTC page: a request that claims to come from a government agency or a well-known company, pressure to pay immediately, being told a wire is the only way, a telemarketer asking for a wire (the FTC says that is illegal), paying someone you have never met in person, a fee to collect a prize, a check that overpays you so you wire back the difference, and a panicked call from a relative, which can use a cloned voice ([FTC](https://consumer.ftc.gov/articles/what-know-you-wire-money)). We add one business check: bank details that are new or changed by email or message.

## How the meter works

Each sign carries a weight, higher for the strongest signs. No ticks means no listed red flag; a few means check before paying; more means stop. The weights are ours, not the FTC's. Ticked boxes stay in this browser's storage (key `sc-safe`) and come back after a reload; nothing is sent.

## If you already paid

The FTC says to contact the wire service (MoneyGram, Ria or Western Union, for example) right away, say the transfer was fraudulent and ask for a reversal. If you sent the money through your bank, contact the bank and ask whether it can reverse the transfer. After that, file a report with the FTC at ReportFraud.ftc.gov ([FTC](https://consumer.ftc.gov/articles/what-know-you-wire-money)). Speed matters. The common scam patterns are on [wire transfer scams](https://swiftcodelookup.com/wire-transfer-scams/).

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SWIFT Code Guide. Errors or changed codes: contact@swiftcodelookup.com