Protecting Yourself from Wire Fraud: A Real Estate Agent's Perspective

Wire Fraud:  Real estate wire fraud, also known as mortgage wire fraud, is a common cybercrime that occurs when a scammer tricks a buyer, seller, or other party into wiring money to a fraudulent account: 

How it works

Scammers use phishing and spoofing techniques to create authentic-looking emails and texts that appear to come from the real estate agent or lender. They may claim there's been a last-minute change in banking procedures. 

Consequences

Victims can lose a down payment or the proceeds from selling their property. It can be difficult to get the money back once a wire transfer is initiated.