In today’s environment, criminals routinely target real estate transactions by gaining access to electronic communications or sending emails that appear to be from a real estate agent, lender, title company, attorney or another source connected to the transaction.

Real estate transactions are highly lucrative given the significant dollar amounts exchanged between the parties. Communications often involve directions for wiring funds related to the transaction, changing previously provided instructions, or a spoofed email and/or phone number to verify or transmit information, which ultimately result in transfer to a fraudulent account.

These electronic communications often look and appear legitimate. Unfortunately, once funds are wired to a fraudulent account, it is often impossible to retrieve them or recover them in full.