Cyber fraud is real and it's here. In 2025, the FBI reported nearly 25,000 complaints of BEC (Business Email Compromise), good for a combined $ 3 BILLION in losses. The total reported losses to cybercrime was $ 20.9 BILLION, a year-over-year increase of 26%.

Of that $ 3 billion, $ 275 million was attributed to real estate wire fraud schemes, with over 12,000 victims. A year-over-year increase of 58%. Unlike credit card fraud, wire transfer are almost immediate. Victims often lose their entire down payment or home purchase equity in a single transaction.*

Don't think "this won't happen to me". It happens a lot and consequences can be disastrous. There are cases were a 7 figure wire fraud was taken. With a case in my office, buyers working with our in house title company, Equity Title of Nevada, a buyer made a wire to a fraud account because they didn't check the instructions. With the help of cyber crime unit and the FBI, the title company was able to stop the wire before midnight. After midnight, it would have been gone. Sadly, the return takes quite some time and the buyers lost their transaction AND their earnest money deposit. So even if your money is recovered, it can still be a very expensive mistake to make. On top of losing on the house you wanted!

Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending fraudulent emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via telephone to a trusted and verified phone number. So don't call the number in the email, look up the actual title company and call that number. Never wire money without double-checking that the wiring instructions are correct.

Remember this rule of thumb: WIRE INSTRUCTIONS NEVER CHANGE

Data sources: The FBI Internet Crime Complaint Center (IC3) Annual Internet Crime Report