Real Estate Wire Fraud Is on the Rise: How to Protect Your Closing Funds
Posted by Meredith Amon on
Real Estate Wire Fraud Is on the Rise: How to Protect Your Closing Funds
By Meredith Amon, Licensed in Alabama and Florida
Guided by Integrity. Backed by Experience. Search the Gulf with Meredith Amon.
Real estate wire fraud is one of the most devastating—and increasingly common—threats facing buyers and sellers today. Just this week, I was reminded of how real and close to home this risk is. An agent here on the Gulf Coast recently had a buyer fall victim to wire fraud. It wasn’t my transaction, but it deeply impacted their client, who lost over $130,000.
It happened when hackers intercepted email communication between the buyer and the title company. The buyer received what looked like a legitimate email with wiring instructions—only the…
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