Buyer Guides

Wire Fraud in Real Estate -- How to Protect Yourself in NC

Wire fraud in real estate transactions is a growing threat. Criminals intercept closing communications and redirect wire transfers. Charlotte buyers have lost hundreds of thousands to these scams.

Common Questions

What is wire fraud in real estate?

Criminals hack email accounts of agents, lenders, or attorneys and send fake wire instructions that look legitimate. The buyer wires closing funds to the criminal account instead of the closing attorney. The money is usually unrecoverable.

How do I protect myself from wire fraud?

Never send wire transfers based solely on email instructions. Always call your closing attorney directly using a number you verified independently (not from the email). Verify wire instructions verbally before sending any funds.

How common is wire fraud in Charlotte?

Wire fraud attempts happen regularly in the Charlotte market. The FBI reports real estate wire fraud losses exceeding $400 million annually nationwide. Charlotte closing attorneys report attempted fraud on a significant percentage of transactions.

What if I sent money to the wrong account?

Contact your bank immediately -- within minutes if possible. File a report with the FBI Internet Crime Complaint Center (IC3). Contact local law enforcement. Time is critical -- funds are often moved internationally within hours.

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