Real Estate Wire Fraud: How to Protect Your Closing Funds

Published October 9, 2026 · Recalde & Friedman, PLLC

How the scam works

Criminals hack or spoof email accounts of buyers, agents, lenders or title companies, watch the transaction, and send fake wiring instructions right before closing. The money goes to an account they control. The CFPB has warned consumers about these mortgage closing scams and cites FBI data showing a sharp rise in reported real estate wire-fraud attempts.

Our policy

We will never send you new or changed wiring instructions by email, text, or social media. If you get a message that appears to be from us with new instructions, don't act on it. Call us at (305) 792-9100, a number you can verify on this website and in your contract.

CFPB's protection steps

1. Identify two trusted people in your transaction (for example, your agent and your closing attorney) and confirm their names and contact information in person or by a verified call early on.
2. Agree on a code phrase with your trusted contacts.
3. Never use phone numbers or links from an email to verify wiring instructions. Call a number you obtained independently.
4. Be suspicious of last-minute changes or urgent pressure.
5. Confirm with your bank before sending, and call the recipient to confirm they received the funds.

If you think you've been scammed

• Call your bank immediately and ask them to contact the receiving bank to try to recall the wire.
• Report it to the FBI at the FBI Internet Crime Complaint Center (IC3).
• Notify your closing attorney, agent and lender.

Time matters. The faster the banks are notified, the better the chance of stopping the funds.