wire fraud

Wire fraud is a crime committed using electronic communication, such as telephones or computers. It is a type of cybercrime that can involve various fraudulent activities conducted over electronic networks.12

The international nature of cybercrime is particularly evident with wire fraud. One notable case involved Vladimir Levin, a Russian programmer who, in 1994, transferred approximately $10 million from Citibank subsidiaries to various international bank accounts. Although most of the money was recovered, Levin was eventually sentenced in the United States.2

Due to the reliance on electronic communication and the relative anonymity it can provide, the exact extent of wire fraud is difficult to ascertain, making it a persistent worldwide problem.2