A Realtor's Wire Fraud Prevention Checklist: Don't Let Your Closing Become a Scam

Wire fraud is one of the biggest threats in real estate, and unfortunately, scammers are getting smarter. As a Sales Associate at Chicago Title, I want to make sure the agents I work with know how to protect themselves and their clients from costly mistakes.

The good news? A few simple habits can make a huge difference.

My Wire Fraud Prevention Checklist

1. Double-check every email address. Scammers often create email addresses that look almost identical to legitimate ones. Watch for extra dots, hyphens, swapped letters, or slightly different domain names. One tiny character can be the difference between a legitimate email and a scam.
2. ALWAYS call to verify wiring instructions. Before your client sends any money, have them call the title company directly using a trusted, independently verified phone number. Never use a phone number provided in a suspicious email, and never rely solely on an email to confirm wiring instructions.
3. Know where your money is going. At Chicago Title of Colorado, we use Wells Fargo for our escrow banking. If your wiring instructions show a different bank, stop and contact our team directly to verify. Even if the instructions list Wells Fargo, that alone doesn't mean they're legitimate. Always confirm the routing number, account number, and beneficiary information with your escrow team using a trusted phone number.
4. Be suspicious of last-minute changes. If you receive an email claiming that wiring instructions have suddenly changed, treat it as a major red flag. Fraudsters love creating urgency, especially right before closing. Stop and verify directly with your title company before taking any action.
5. Avoid clicking unfamiliar links or attachments. A fraudulent email can look incredibly professional. Even if it appears to come from your lender, title company, or another agent, think twice before opening unexpected attachments or entering sensitive information through a link.
6. Educate your buyers early. Don't wait until closing day to discuss wire fraud. I recommend having this conversation as soon as your clients go under contract. Make sure they know exactly who to contact, how to verify instructions, and what warning signs to watch for.

My Biggest Piece of Advice

When in doubt, pick up the phone. A quick call could prevent the loss of someone's entire down payment.

After sending a wire, clients should also confirm directly with the title company that their funds have been received. If fraud is suspected, contact the sending bank immediately to request a wire recall and report the incident to the FBI at IC3.gov.

At Chicago Title, we're here to be a resource throughout the transaction, not just at the closing table. If something looks suspicious, reach out. I'd much rather help you verify an email than see a client become a victim of fraud.

Protect your clients, protect your transactions, and always verify before you wire.