Real estate wire fraud happens when a criminal impersonates your title company, real estate agent or attorney and sends fake wiring instructions, so your down payment or sale proceeds land in the criminal's account instead of escrow. The most effective defense is simple: never act on wiring instructions received by email alone. Before you send any funds, call your closing agent at a phone number you have verified independently.
How closing wire fraud works
Most closing wire fraud is a form of business email compromise. Criminals gain access to an email account belonging to someone in the transaction, or create an address that looks almost identical, and quietly watch the conversation. When closing approaches, they send a message that appears to come from the title company or agent, with "updated" wiring instructions.
The message often looks routine. It may use the correct names, property address and closing date, because the criminal has been reading the real emails. The only change is the bank account.
At Premier Title Solutions, our escrow services include a standing rule we share with every client, in every language: never trust wiring instructions received by email alone.
What the latest FBI data shows
The FBI's Internet Crime Complaint Center (IC3) tracks these crimes every year. In its 2025 Internet Crime Report, the FBI recorded:
- Business email compromise: 24,768 complaints and about $3.05 billion in reported losses nationwide. This is the category that covers most closing wire fraud.
- Real estate fraud: 12,368 complaints and about $275 million in reported losses. The FBI's real estate category is broader than closing wire fraud and also includes investment, rental and timeshare schemes.
- Florida: ranked third in the nation for both the number of complaints and total reported losses across all internet crime types.
The report also describes a 2025 case in which a homebuyer received a compromised email, appearing to come from the "title company," with wiring instructions for more than $1.3 million. Because the fraud was reported quickly, the FBI was able to work with banks to freeze the receiving account.
Red flags to watch for
Treat any of the following as a reason to stop and verify before sending money:
- An email saying the wiring instructions have "changed" or that a different bank must be used
- Urgent pressure to wire funds today or risk losing the closing
- A request to keep the change confidential or not to call
- Sender addresses with a small misspelling, an extra character or a different domain
- Phone numbers or links in the email that differ from those you received at the start of the transaction
- Instructions to send funds by cryptocurrency, gift card or a payment app
How to verify wiring instructions safely
The CFPB recommends setting up your verification process before you ever need it. A practical routine:
- Confirm contacts early. At the start of the transaction, write down the name and phone number of your closing agent and real estate agent from a trusted source, such as the company's website or a printed document.
- Call before every wire. Before sending funds, call your closing agent at that known number and confirm the account name, account number and amount out loud.
- Never use contact details from the email. A fraudulent email can include a fake phone number that rings straight to the criminal.
- Do not email financial information. Email is not a secure way to share bank details.
- Confirm receipt. After sending, call again to confirm the funds arrived.
These steps take a few minutes and protect what is often a family's largest payment.
What to do if you wired money to the wrong account
Speed matters more than anything else. If you suspect you sent funds to a fraudulent account:
- Call your bank immediately and ask them to recall the wire. Ask what documentation they need.
- File a complaint with the FBI at ic3.gov and include the full transaction details.
- Call your closing agent at a verified number so the transaction team can respond.
- Preserve the evidence. Keep the emails, headers and any text messages.
According to the FBI's 2025 report, its Recovery Asset Team helped freeze about $679 million of roughly $1.16 billion in attempted theft across the incidents it worked that year. Fast reporting improves the chances of recovery, though recovery is never guaranteed.
Extra steps for international buyers and sellers
Clients wiring funds across borders face additional steps: different banking hours, time zones, intermediary banks and sometimes communication in a second language. Criminals take advantage of that complexity. A message that arrives overnight, when the closing office is closed and a call is harder to make, is exactly the kind of moment fraudsters look for, so plan your verification call during office hours.
If you are wiring funds from abroad, confirm instructions by phone well before the closing date and allow extra time for international transfers. Our team assists clients in English, Spanish, Russian and French, so you can confirm every detail in the language you are most comfortable with. Foreign sellers should also understand FIRPTA withholding on Florida property sales, which affects how sale proceeds are disbursed.
Wire fraud is not the only risk a buyer should plan for. Title defects from before your purchase are another, which is why we also explain the difference between owner's and lender's title insurance.
Frequently asked questions
Will a title company ever change wiring instructions by email?
You should treat any emailed change to wiring instructions as suspicious. Legitimate instructions should be confirmed by phone at a number you verified independently, not one listed in the email. If you receive a change notice, stop and call your closing agent before sending any funds.
What should I do if I already sent the wire?
Call your bank immediately and request a wire recall, then file a complaint at ic3.gov with full transaction details and notify your closing agent at a verified number. Acting within hours rather than days improves the chances that banks and law enforcement can freeze the funds.
Is it safer to pay closing funds by cashier's check?
Some closing agents accept cashier's checks for certain amounts, while others require wires for larger sums. Policies vary, so ask your closing agent early which payment methods they accept. Whatever the method, confirm the payee and instructions directly with the closing agent by phone.
Are sellers at risk too?
Yes. Criminals also target sellers by sending fake requests to change where sale proceeds are deposited. Sellers should provide payout instructions through a secure method arranged with their closing agent and confirm any change by phone at a verified number.
Questions before you wire?
This article is general information, not legal advice. If anything about your wiring instructions looks unusual, stop and call or contact our Aventura office using contact details you have verified independently before sending any funds.