How Homebuyers Can Prevent Wire Fraud: 5 Smart Steps for a Secure Closing

Buying a home is an exciting milestone — but did you know it can also be a target for cybercriminals? With more real estate transactions handled digitally, wire fraud has become one of the fastest-growing threats in home buying.

In fact, first-time buyers are three times more likely to fall for wire fraud schemes. But there’s good news: with the right steps and a little knowledge, you can protect yourself and your investment.

Here’s what you need to know — and how to stay safe.

What Is Wire Fraud in Real Estate?

Wire fraud occurs when a scammer tricks a buyer into wiring their closing funds (often tens or hundreds of thousands of dollars) to a fake account. These criminals usually gain access to email accounts and send what looks like legitimate wiring instructions — often timed right before closing, when buyers are expecting to move quickly.

Once the money is sent, it’s often gone.

5 Ways Buyers Can Protect Themselves from Wire Fraud

1. Verify Wire Instructions Over the Phone

Never trust wiring instructions sent by email alone. Always call your title company or real estate agent directly — using a verified number you’ve used before — to confirm the details. Don’t use phone numbers or links in the email.

2. Be Skeptical of Last-Minute Changes

If you receive updated wire instructions close to your closing date, be suspicious. Title companies rarely change this information last-minute. Always verify with a phone call.

3. Work With Security-Minded Professionals

Choose a real estate agent and title company that take cybersecurity seriously. In fact, nearly 80% of buyers say they’d rather work with an agent committed to security, even if it costs more — and for good reason.

4. Request a Wire Fraud Disclosure

Ask your agent or title company for a wire fraud disclosure early in the process. This document outlines how to identify and avoid fraud, and it shows your team is proactive about your security.

5. Be Cautious With Email

Never send sensitive information (like your Social Security number or bank details) over unsecured email. Use encrypted platforms when possible, and be alert for typos or strange email addresses that don’t match your contacts exactly.

What to Do If You Suspect Wire Fraud

If you think you’ve been targeted — or worse, sent money to the wrong place — act fast. Time is critical.

Here’s what to do immediately:

Contact your bank and ask them to issue a recall.
Report the incident to the FBI’s Internet Crime Complaint Center (IC3) at ic3.gov.
Contact your state’s Attorney General — for North Dakota, reach out to the ND Attorney General’s Office right away.

Peace of Mind Is Possible

Wire fraud is a serious risk, but it doesn’t have to derail your dream of homeownership. With a trusted agent by your side and a few smart precautions, you can keep your transaction secure — and focus on the excitement of getting your keys.

Ready to buy with confidence? We're here to guide you every step of the way — safely and securely.