Wire Fraud & How To Avoid It

In today’s real estate market, sending or receiving a wire transfer is completely normal — especially when it comes to earnest money or closing funds. Unfortunately, wire fraud has also become more common. Criminals target buyers, sellers, and even agents by posing as title companies or trusted professionals and sending fake wiring instructions.

The good news? Wire fraud is preventable when you slow down and follow a few simple best practices.

Best Practices to Avoid Wire Fraud

1. Always Confirm Wiring Instructions by Phone

Before sending a wire, call your escrow or title company using a verified phone number — not one from an email you've received. Look up the number on their official website or use a number your agent previously confirmed in person.  Never rely solely on emailed instructions.

We often will search for the name of the escrow/title company online along with the city name, such as "Chicago Title Lynnwood" then call the main office number found in the search results. When you reach the roffice,  ask to speak to the person who sent the instruction and confirm the routing number and other details provided in the email. 

2. Be Suspicious of Last-Minute Changes

If you receive:

• “Updated wiring instructions”
• A new bank, routing or account information
• A request to rush funds immediately

Stop. Verify by phone. Legitimate title companies rarely change wiring instructions mid-transaction.

3. Watch for Email Red Flags

Common warning signs:

• Slightly misspelled email addresses
• Poor grammar or unusual tone
• Pressure to act immediately
• Requests to keep things confidential

Even emails that look professional can be fraudulent. When in doubt, pause and verify.

4. Never Email Sensitive Financial Information

Avoid sending:

• Bank account numbers
• Social Security numbers
• Copies of IDs

Use secure portals provided by your escrow or title company whenever possible.

5. Send a Small Test Wire (If Allowed)

For large transfers, some banks allow a small test wire first. Confirm receipt before sending the full amount.
It adds one extra step — but can provide peace of mind.

6. Understand Your Team’s Policy

At Reece Homes, we always remind our clients:

• Our Team will never send or request wiring instructions. Escrow and our clients will work together directly to arrange wire transfers.
• We will always encourage you to verbally confirm details with escrow directly.
• If something feels off, call us immediately.

Your real estate team should reinforce safety at every step.