Wire Fraud

Wire fraud is a cybercrime in which criminals intercept or impersonate communications during a real estate transaction to redirect closing funds to a fraudulent account.

Scammers typically hack or spoof email accounts of real estate agents, title companies, or lenders and send the buyer fake wiring instructions that appear legitimate. Once funds are wired to the wrong account, they are often unrecoverable.

Wire fraud is not a rare occurrence — it is one of the fastest-growing crimes in real estate. The FBI reports hundreds of millions in losses each year. It can happen to anyone, regardless of the transaction size or location.

Why This Matters: Never wire funds based solely on an email. Always verify wiring instructions by calling a known, trusted phone number — not one provided in the email itself. One phone call can prevent the loss of your entire closing funds.