Guides

Wire fraud: protect your closing funds

How the scam works, how to spot it, and what to do if it happens.

Closing funds are often the largest payment a person ever makes, which makes them a target. Criminals impersonate someone in your transaction and send fake wiring instructions. Once the money is wired, it can be very hard to get back.

  • 24,768

    Business email compromise complaints to the FBI in 2025

  • $3.05 billion

    Reported losses from those complaints

  • 1 phone call

    To a number you already know: the simplest protection

Figures from the FBI IC3 2025 Internet Crime Report. Newer reports may show different numbers.

How the scam works

  1. An email account is hacked

    The criminal gets into the email of someone in the transaction: the buyer, seller, agent, lender, or title company.

  2. Fake instructions go out

    They send an email that changes the wiring or payment instructions, without the others knowing.

  3. The money goes to the wrong account

    If nobody questions it, the down payment or closing funds go to the criminal.

  4. It’s discovered too late

    By closing day, the funds are often long gone.

Spot the red flags

Here’s a made-up scam email. See how many warning signs you can find.

Spot the red flags: tap anything suspicious

0 of 5 found

Sample scam email, not a real message

From:

Subject: Updated closing funds

Hi,

for your closing this week. The updated details are attached. .

until the funds arrive.

Thanks,
Closing Team

Tap an underlined phrase to see why it’s a warning sign.

How to send money safely

  • Treat emailed wiring instructions as suspect, even if they look like they’re from someone you trust.
  • Call before you send. Call your contact at the title company at a phone number you already know, not one from the email. Then call your bank to verify as well.
  • Call after you send, to confirm the right recipient got the money.
  • Act immediately if anything seems off.

GreenVue’s office numbers are Nashville (615) 250-1810 and Murfreesboro (615) 900-1242.

If you think you’ve sent money to the wrong account

  1. Call your bank immediately. Ask them to recall the wire. Time is critical. The sooner the bank acts, the better the chance of stopping the money.
  2. File a complaint at ic3.gov, whatever the amount. The FBI’s Recovery Asset Team works with banks to try to freeze stolen funds.
  3. Call your title company and your lender at phone numbers you already know, so they can alert everyone involved in your closing.

This is general information, not legal advice. Talk to your attorney.

Let’s Work Together

Let us know how we can help make your real estate transaction a done deal.

Order Title Call (615) 250-1810