As real estate transactions in Florida become more digital, cybercriminals are taking advantage. Wire fraud—where hackers intercept or impersonate communications to divert funds—is now one of the biggest threats facing buyers, sellers, and closing agents. Losses can be catastrophic, often involving hundreds of thousands of dollars, and recovery is rare once funds are misdirected.
How Wire Fraud Happens
- A hacker gains access to the email account of a real estate agent, attorney, or title company.
- The hacker monitors communications, then sends a spoofed or altered email containing fake wire instructions.
- The buyer wires funds—often their down payment or full purchase price—to a fraudulent account.
These scams often look incredibly convincing and can happen just days or hours before closing.
Florida Is a Hotspot for Real Estate Wire Fraud
Due to its high volume of transactions and frequent out-of-state buyers, Florida is especially vulnerable. The FBI’s Internet Crime Complaint Center (IC3) reports that Florida ranks among the top states for reported wire fraud in real estate.
How to Protect Yourself
- Always call to confirm wire instructions using a verified phone number—not the number in the email.
- Avoid sending sensitive information via email. Use secure portals or encrypted messaging services.
- Be suspicious of last-minute changes to wire instructions or urgent messages requesting immediate action.
- Work with a reputable title company or closing attorney that uses two-factor authentication and encrypted communication.
Buyers and sellers should be educated early in the transaction process about the risks of wire fraud. Real estate professionals can also benefit from legal training and cybersecurity best practices.
If you believe you’ve been ta
