Wire fraud in real estate involves scammers intercepting or redirecting funds during transactions, often by compromising email communications between parties.
Alarming Statistics
In Q1 2025, wire-related errors were present in 8.4% of real estate transactions, marking the sixth consecutive quarter with over 8% in this category. Additionally, 47.7% of transactions had issues related to Closing Protection Letter (CPL) validation, indicating significant vulnerabilities in the system.
These fraud schemes are becoming rampant and everyday these criminals become more and more sophisticated. By engaging in routine, seemingly harmless communication, criminals bait users into giving their personal information or clicking a link that allows hackers to steal log-in information and passwords. Typically, a method called phishing in the form of email messages, website forms or phone calls is used to fraudulently collect personal information. When this personal information is obtained, the target is set and often times is used in attempts to gain access to wiring of funds.
Don’t become a victim of wire fraud! Education is key to prevention. This page’s purpose is to give you the knowledge and tools needed to recognize wire fraud attempts.
By Caroline Biggs | Jan. 3, 2020 | The New York Times The F.B.I. says real estate transactions are a growing target of wire fraud. Here are some ways to fight
December 11 | National Association of REALTORS® More and more phishing scams are targeting real estate professionals and their clients, attempting to dupe you out of money. There are several
The following security tips can help you identify a compromised email account and prevent further exploitation.
Homebuyers beware: It takes the average single person 11 years to save for a down payment on a home, and in an instant it can be taken from you by hackers during your closing.
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