How common is wire fraud in real estate?

The FBI reports that BEC real estate scams are among the fastest-growing categories of wire fraud, with losses exceeding $400 million annually in recent years. Every buyer with a wire transfer closing is a potential target, regardless of transaction size or location.

Will my bank recover the money if I wire to the wrong account?

Recovery is possible if you act within hours, but success rates are low — often under 10%. Banks can attempt a SWIFT recall, but fraudsters move funds quickly through multiple accounts. Prevention through phone verification is far more effective than relying on recovery.

Can the title company be held liable if I wire to a fraudster?

Liability depends on the circumstances — whether the title company's email was actually compromised vs. the buyer's email, whether the title company followed industry security standards, and state law. Litigation is costly and outcomes vary. Protect yourself by following verification protocols regardless of liability questions.

Does TrustPro Title send wire instructions by email?

We provide wire instructions at file opening through verified closer email and our secure channels. We always recommend — and expect — that buyers call to verbally confirm instructions before wiring. We will never ask you to wire without phone verification.

Are cashier's checks safer than wires?

Cashier's checks eliminate wire fraud risk but are impractical for most closings because Good Funds laws in most states require wired funds above a threshold ($500–$1,500). For the large amounts typical in real estate closings, wire is the standard — which is why verification is essential.

What should agents tell their buyers about wire fraud?

Agents should warn buyers about wire fraud at contract signing — not the day before closing. Provide the title company's verified phone number, explain the phone verification protocol, and tell buyers to call immediately if they receive unexpected or changed wire instructions. TrustPro Title provides agent education materials on request.

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August 18, 2026 · TrustPro Admin

How to Avoid Wire Fraud at Your Real Estate Closing

Business email compromise targets real estate closings with fake wire instructions. Learn the red flags, verification steps, and how TrustPro Title protects your funds.

Wire fraud is the most damaging crime in residential real estate today. The FBI's Internet Crime Complaint Center (IC3) reports that business email compromise (BEC) schemes targeting real estate transactions result in hundreds of millions of dollars in losses annually. The scam is simple and devastating: a fraudster intercepts or impersonates email between the buyer, agent, title company, or lender and sends fake wire instructions directing closing funds to the criminal's bank account. Once the wire is sent, recovery is rare.

The attack typically escalates in the final days before closing — when buyers are anxious, busy, and expecting to receive wire instructions. The fraudulent email looks identical to legitimate correspondence: same logo, similar email address (with one character changed), same signature block. The wire instructions include a real bank name but an account controlled by the fraudster. By the time the title company confirms it never received funds, the money has been transferred overseas.

TrustPro Title & Escrow, Inc. implements strict wire verification protocols on every file. We never send wire instructions by email alone without a verified phone confirmation, we publish our wire instructions through secure channels, and our Clearwater team is trained to recognize and escalate fraud attempts. This article explains how the scam works, how to protect yourself, and what TrustPro Title does to keep your closing funds secure. Report suspicious communications to our contact team immediately.