How to avoid wire fraud before closing

How the scam works

Criminals monitor real estate email, then send you fake wiring instructions that look like they came from your title company, agent, or lender, usually right before closing. The instructions route your down payment to the criminal's account. Once a wire is sent, the money is often gone for good.

The one rule that stops it

Never trust wiring instructions you receive by email, even if they look legitimate. Before sending a dollar, call the title or escrow company using a phone number you got independently, not the number in the email, and confirm the instructions out loud. Verify the account details every time, even if you have wired before.

Verify the people, not just the account

Know who is handling your closing. Confirm your loan officer's NMLS license early, and confirm the title company and the closing agent directly. Scammers rely on you not knowing exactly who should be contacting you.

What to do if you are targeted

If you sent a wire to the wrong place, call your bank immediately and ask for a wire recall, then report it to the FBI's IC3 at ic3.gov. Speed matters: the first 24 to 48 hours give the best chance of recovery.