Real-estate wire fraud targets the moment a buyer sends their deposit or closing funds. A criminal sends a convincing email — often looking exactly like it came from your agent, lender or escrow officer — with “updated” wiring instructions. Once money is wired to the wrong account, it is very hard to get back.
How it usually happens
- An email account somewhere in the transaction is compromised, or a look-alike address is created.
- The criminal watches the conversation and waits until money is about to move.
- A message arrives: the account changed, there's a last-minute problem, it's urgent.
- The new instructions point to an account the criminal controls.
Warning signs
- Any change to wiring instructions — especially at the last minute.
- Pressure to act fast or to keep the change quiet.
- An email address or phone number that's slightly different from before.
- Instructions that arrive only by email or text.
The rules that stop it
- Never wire money based only on an email or text — no matter who it appears to be from.
- Before wiring, call the escrow or title company at a phone number you got independently (their official website, or one your agent gave you in person) — never a number from the email.
- Confirm the exact account details out loud, then confirm receipt by phone right after sending.
- Treat any “instructions changed” message as suspicious until confirmed by a known phone number.
- If something feels off, stop and call your agent.
If it happens
Speed matters. Call your bank immediately and ask them to recall the wire, contact the escrow company, and report it to the FBI's Internet Crime Complaint Center (ic3.gov). Then tell your agent.
For agents: make the warning impossible to miss
Say it at the start of every deal, again before any money moves, and keep it visible wherever your client checks their status. A one-time warning in a long email is easy to forget by closing week.
ClosedEasy shows a persistent wire-fraud warning on the client's board whenever a deposit or closing-funds step is open — with a tap-to-call button for the verified contact on that step.