If you source globally, you most likely have to wire money from time to time to the people and companies that are providing the materials and services for your products. Bank transfers are the most common and convenient way to exchange funds between currencies. And while they allow people from all parts of the world to do business together, there are several vulnerabilities inherent in this method of payment, especially for small, foreign buyers.
The most obvious issue is that once you...
first, money, supplier, wiring