Wire Fraud Prevention for Miami Real Estate Closings (2026)

Last updated: July 2026

Real estate wire fraud is a scam in which a criminal poses as your title company, closing agent, lender, or real estate professional and sends fake wire instructions so your closing funds land in their account instead of the right one. It usually arrives as an email that looks routine, often near closing, telling you the wiring details have changed. The single most reliable defense is simple: before you send any money, call a phone number you already know for your title or closing company and confirm the instructions out loud. Do not use a number or link from the email itself.

This matters in every market, and Miami is no exception given the volume of cash and financed closings that move through here each year. The good news is that the process to protect yourself is short and repeatable. Verify wire instructions by voice using a known number, treat any last-minute change as suspect, confirm funds arrived after you send them, and know the exact steps to take in the first hours if something goes wrong. Below is how the scam works, who gets targeted, and what to do at each stage.

How real estate wire fraud works

Most of these cases fall under what the FBI calls business email compromise, or BEC. A criminal gains access to or spoofs an email account tied to your transaction, monitors the conversation quietly, and waits for the moment funds are about to move. Then they send a message that mirrors the real thread, sometimes copying signatures, logos, and accurate details about your specific deal, with new wiring instructions attached.

Because the email references your actual property, closing date, and the people involved, it does not feel like a scam. That familiarity is the point. The account on the fraudulent instructions is controlled by the criminal, and once a wire lands there it is often moved again within hours, which is what makes recovery time-sensitive.

The scale of the problem

The FBI Internet Crime Complaint Center, known as IC3, reported that total losses across all internet crime reached 16.6 billion dollars in 2024, the highest annual figure it has recorded. [1] Business email compromise alone accounted for roughly 2.77 billion dollars in reported losses across 21,442 complaints that year, making it one of the costliest categories tracked. [1] Real estate transactions are a recurring target within that category, because closings involve large sums moving on a known schedule.

Who gets targeted

It is easy to assume only buyers are at risk, but the exposure runs both directions.

Buyers are targeted for down payments and closing funds, which are usually the largest wires in the transaction.
Sellers are targeted on the proceeds and payoff side, where criminals try to redirect the money owed to the seller at closing.
Anyone in the email chain can be impersonated, including the title company, the closing agent, the lender, or a real estate professional.

If you are buying, this connects directly to the funding conversation you should already be having during your buyer consultation. If you are selling, the same verification discipline applies to how your proceeds are delivered, which is worth confirming early when you sell your Miami home.

The prevention steps that actually work

These steps come straight from federal consumer guidance, and none of them require special software.

Verify by voice using a known number

Before wiring anything, confirm the instructions by phone using a number you already have for your title or closing company, one you obtained independently and not from the email carrying the instructions. [2] The Consumer Financial Protection Bureau recommends identifying trusted individuals early in the process and confirming payment instructions with them in person or by phone, never by email. [2] Have the representative read back the account name, account number, and amount.

Never trust wire changes sent by email

Treat any emailed change to wiring details as suspect until you have confirmed it by voice. Legitimate parties will not object to a verification call. Avoid clicking links or opening attachments in wire-related emails, since criminals can replicate legitimate messages closely. [2]

Confirm before and after you send

Confirm the instructions before you initiate the wire, then call again after it is sent to confirm the funds actually arrived in the correct account. The sooner a misdirected wire is caught, the better the odds of stopping it.

Use secure channels when available

Many title and closing companies now offer secure portals for transmitting wire instructions rather than plain email. Where that option exists, use it, and still confirm by voice.

Red flags to watch for

A change to wiring instructions, especially one that arrives close to closing.
Pressure to act fast, urgency, or a request to keep the change quiet.
An email address that is slightly off, with an added letter, a swapped character, or a different domain than the one you have been using.
Instructions to wire to a bank in a different name, state, or institution than expected.
Poor grammar or small inconsistencies against earlier messages in the thread.

A single red flag is enough reason to stop and place a verification call before doing anything else.

What to do immediately if you already wired funds

If you believe you sent money to a fraudulent account, act within hours, not days.

1. Call your bank right away and ask them to initiate a wire recall or reversal on the basis of fraud. Faster reporting improves the chance of recovery. [2] 2. File a complaint with the FBI at ic3.gov. Reporting quickly gives the FBI its best window to work with financial institutions to freeze funds. 3. Notify your title company, closing agent, and lender so they can flag the fraud, alert the receiving bank, and protect others in the transaction. 4. Keep every record, including the fraudulent email, the wire confirmation, and the timeline, since these support both the bank and the FBI.

Speed is the deciding factor. Recalls attempted in the first day stand a far better chance than those attempted later.

Frequently asked questions

Is real estate wire fraud common in Miami closings?

Wire fraud is a nationwide problem tied to how closings move large sums on a schedule, and high-volume markets like Miami see the same risk as anywhere else. The prevention steps are identical regardless of market: verify by voice, distrust emailed changes, and confirm both before and after wiring.

How do I verify wire instructions safely?

Call your title or closing company using a phone number you already have from independent contact, not one pulled from the email with the instructions. Ask them to read back the account name, number, and amount, and do this before you send and again after. [2]

What is business email compromise?

It is a scam where a criminal compromises or imitates a legitimate email account in your transaction and sends fraudulent payment instructions. The FBI tracks it as one of the most costly internet crime categories, with about 2.77 billion dollars in reported losses in 2024. [1]

Can I get my money back if I wired it to a scammer?

Sometimes, if you act fast. Call your bank immediately to request a wire recall and file at ic3.gov the same day. Recovery is far more likely when reported within the first hours rather than days. [2]

Who should I contact first if I suspect fraud?

Contact your bank first to attempt a recall, then file with the FBI at ic3.gov, then notify your title company, closing agent, and lender. For general questions about the closing process, our FAQ is a good starting point.

Staying calm and following a fixed verification routine is what keeps closing funds safe. If anything about a wire request feels off, stop and confirm by voice before you move a dollar.

Gabriel

Sources

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Gabriel A. Moyers, PA. eXp Realty. Florida License #3407280. Equal Housing Opportunity. This article is general information as of July 2026 and is not legal, tax, or financial advice. Verify current figures against authoritative sources before acting.