How to Protect Yourself from Real Estate Cybercrime and Wire Fraud

Real estate transactions are complex enough without the added threat of cybercrime. Unfortunately, wire fraud and other forms of real estate cybercrime have become increasingly common, targeting unsuspecting buyers, sellers, and even professionals involved in the transaction process. The consequences can be devastating—financially and emotionally—but understanding the risks and knowing how to protect yourself can make all the difference.

Common Red Flags of Wire Fraud

Fraudsters are getting more sophisticated, but many of their tactics leave behind warning signs. Recognizing these red flags can help you avoid falling victim to a scam:

  • Slightly Altered Email Addresses: Fraudsters often create email addresses that look almost identical to a trusted contact’s but include subtle changes, like an added letter or symbol. Always double-check email addresses for accuracy.
  • Changes to Wiring Instructions: Be extremely cautious if you receive updated wiring instructions, such as a new bank account or routing number. Verify any changes directly with your attorney or escrow company through a trusted channel.
  • Overly Friendly or Trust-Building Language: Fraudulent messages may use phrases like “friend” or “pal,” or include excessive compliments to build trust and catch you off guard.
  • Urgent or Threatening Language: Messages that pressure you with words like “don’t,” “prevent,” “concern,” or “avoid” are designed to create urgency and push you into acting without verifying details.
  • Inconsistent Fonts or Formatting: If a message has irregular fonts, type sizes, or strange spacing, it could indicate tampering.
  • Last-Minute Changes or Rushed Closings: Be wary of sudden changes to closing procedures or rushed requests, especially right before a closing. These are common tactics used by scammers to catch victims off guard.

How We Help Protect You From Wire Fraud

At Angela Stewart DeLorme, P.C., Attorneys at Law, we take wire fraud and cybersecurity seriously. Real estate transactions are a significant investment, and it’s our priority to help ensure that your hard-earned money is safe.

That’s why we use ClosingLock, a secure wire fraud prevention platform designed specifically for real estate transactions. ClosingLock replaces the need for email-based wire instructions, which are highly vulnerable to fraud. Instead, it provides a secure, encrypted portal for exchanging sensitive information, ensuring that your funds are protected throughout the process.

Here’s how ClosingLock works:

  • Secure Communication: All wire instructions are sent through a secure portal, eliminating the risk of email interception.
  • User-Friendly Interface: ClosingLock is simple to use, so you can verify and access information with ease.
  • Peace of Mind: With advanced encryption and secure delivery, you can trust that your funds are safe.

Learn more about ClockingLock here

Additional Steps to Protect Yourself

While ClosingLock adds a significant layer of security, there are steps you can take to further protect yourself from fraud:

  • Verify, Then Verify Again: Always confirm wiring instructions through a trusted, direct channel, such as a phone call to your attorney or escrow company.
  • Stay Vigilant: Be cautious with emails or communications that seem unusual or urgent.
  • Educate Yourself: Learn about the most common scams so you know what to watch for during your transaction.

Why Wire Fraud Prevention Matters

Wire fraud doesn’t just result in financial loss—it can also cause delays, emotional stress, and significant legal complications. Taking the time to verify communications, recognize red flags, and use secure systems like ClosingLock can save you from becoming a victim.

At Angela Stewart DeLorme, P.C., Attorneys at Law, we understand how critical it is to protect our clients throughout their real estate transactions. From start to finish, we prioritize your security and peace of mind. Our team of experienced attorneys works diligently to ensure that every aspect of your transaction is handled professionally, efficiently, and securely.

Secure Your Real Estate Transactions

Whether you’re buying, selling, or refinancing, real estate transactions are a significant milestone. Don’t let cybercriminals compromise your investment. By choosing Angela Stewart DeLorme, P.C., Attorneys at Law, and using our resources like ClosingLock, you can rest assured that your transaction is in safe hands.

If you’re preparing for a real estate transaction or have questions about how to protect yourself from wire fraud, contact our office at (706) 632-0444.