Americans do not understand money transfer, they are still using cheques and western union.
To everyone: If you wrongly send money to a mistyped IBAN it is gone.
To everyone: If you wrongly send money to a mistyped IBAN it is gone.
Plus banks in Europe have a transfer reversal grave period so you just call them and they'll most likely be able to undo the transaction.
> The IBAN check digit consists of two digits in positions 3 and 4 of the IBAN. It is calculated using the MOD97 algorithm and provides the primary integrity check for the IBAN standard.
Very unlikely, the checksum would prevent that.
And most banks (even though I’m unsure it is mandatory) will check the recipient, if totally mismatched a warning will be raised.
But if you send money to the wrong iban+recipient, the money is gone.
It is very unlikely that law enforcement would help you in a situation like this, especially internationally.
You clearly have no idea how an IBAN works. It has a checksum exactly to avoid mistyping.
And even if you send the money to an valid, but wrong, IBAN then one of two things happens:
* The account doesn't exist -> transaction bounces * The account does exist -> ask for money back, worst case go to court to recover it
But the money is not gone. There are no black holes just swallowing everything up.