In today’s digital world, convenience and speed have made electronic fund transfers the standard for real estate closings. Unfortunately, cybercriminals have adapted just as quickly, using sophisticated scams to target buyers, sellers, and even real estate professionals.
Wire fraud occurs when criminals trick someone into sending closing funds to a fraudulent bank account. These scams often look legitimate, using emails or text messages that appear to come from your real estate agent, lender, or title company. Once the money is sent, it’s nearly impossible to recover.
At Crest Title Company, we take wire fraud prevention seriously. Understanding how these scams work—and the steps you can take to protect yourself—is essential to ensuring a safe and successful closing.
How Wire Fraud Happens
Wire fraud schemes are often carried out through email compromise attacks. Hackers infiltrate legitimate email accounts or create nearly identical ones to send fake wiring instructions that appear authentic.
A typical scam might look like this: you receive an urgent message saying wiring instructions have changed or that you need to act immediately to avoid delaying closing. The message includes a new account number that directs your funds straight to the scammer. Because the communication seems trustworthy, victims often act quickly—only realizing something is wrong once the funds are gone.
These scams can target anyone involved in the transaction, including buyers, sellers, agents, and even title companies. That’s why vigilance and verification are critical at every step.
How to Protect Yourself from Wire Fraud
1. Always Verify Wiring Instructions Directly
Before transferring any funds, call your title company using a verified phone number—not one provided in an email—to confirm wiring instructions. Crest Title Company never changes wire details via email. If you receive a message about updated instructions, consider it a red flag and contact us immediately.
2. Be Skeptical of Last-Minute Changes
Wiring details rarely change once they’re established. Any sudden updates or urgent messages asking you to resend funds should be treated with caution. Criminals use pressure tactics to make victims act quickly, reducing the chance of second-guessing.
3. Double-Check Email Addresses and Domains
Fraudulent emails often look nearly identical to legitimate ones, differing by a single character or letter. Always inspect the sender’s email address carefully. If something feels off, verify directly with your closing team before responding or clicking any links.
4. Use Secure Communication Channels
Crest Title Company uses encrypted and verified systems for sharing sensitive information, including wiring instructions. Avoid sending personal or financial information through unprotected email. Instead, rely on secure portals or direct phone communication.
5. Confirm Receipt of Funds After Transfer
Once you send a wire, follow up with your title company to confirm it was received in the correct account. This added step ensures that if any issue occurs, it’s identified immediately—before the transaction can proceed.
How Crest Title Company Protects Your Funds
At Crest Title Company, safeguarding your transaction is our top priority. We use secure communication systems, multi-step verification processes, and strict internal protocols to prevent unauthorized access or fraudulent interference.
Our team will never email last-minute changes to wiring instructions. All payment details are verified in person or over the phone using known, trusted contact information. We also educate every client about safe wire transfer practices before closing to ensure they know what to expect and how to stay protected.
By combining technology with human oversight, we provide a secure closing experience that minimizes risk and gives you peace of mind.
What to Do If You Suspect Fraud
If you believe you’ve received a fraudulent message—or worse, if you’ve already sent funds to the wrong account—take immediate action. Contact your bank to initiate a wire recall, notify your title company and lender, and file a report with local law enforcement and the FBI’s Internet Crime Complaint Center (IC3.gov).
Time is critical. Acting quickly can increase your chances of recovering funds or stopping the transaction before it’s completed.
Why Awareness Is Your Best Defense
Wire fraud prevention starts with awareness. Every buyer, seller, and real estate professional plays a role in maintaining a secure closing process. By staying alert and following verification procedures, you can protect your investment from one of the most common and costly threats in real estate today.
Crest Title Company remains committed to protecting our clients through secure systems, education, and proactive communication. We believe that a safe closing is the foundation of a successful real estate experience.
Protect Your Funds with Trusted Professionals
Don’t let cybercriminals jeopardize your home purchase. Order a title with Crest Title Company today and close confidently with a team that prioritizes your safety every step of the way.