Wire Fraud

Wire fraud is a crime that uses electronic communication to steal money. In real estate, it usually means a scammer impersonates a title company, agent, or attorney by email and sends fake wiring instructions so the buyer's deposit lands in the scammer's account.

Earnest money is a common target because it is often wired soon after an offer is accepted. A buyer sending $10,000 on a $500,000 home might get an email that looks routine but carries new bank details. Once sent, wired money can be very hard to recover.

The FBI and CFPB advise verifying any wiring instructions by calling a phone number you already know or looked up yourself, never one from the email. If you think you were scammed, call your bank right away and ask for a wire recall. How to pay earnest money covers safer payment steps.