I am the victim of a counterfeit check - which was not detected by my bank. I wired $10K to a "vendor" of the group that was scamming me. This wire went to a large well-known bank in Japan. I was told that there was nothing that my bank could do to stop the wire, though it was based on fraud. I repeatedly asked my bank to "indemnify" the $10 and hold it as long as they needed. Their attorney refused to do so. I was later told by another bank employee that the country, Japan, has laws which prevent indemnification. Their thinking is that people should settle their financial differences in court. I have no idea if this is correct - from my terrible expense it would bearout true. This is my first day on the forum - but I have aleady run across someone else who wired money to Japan. I wanted to share this information - maybe it will prevent someone else from thinking bank transfers are safe. Trust me, it is not!
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