A metro-Atlanta couple says their dream of homeownership came with an ugly twist, after scammers posing as their real-estate agent tricked them into wiring nearly $9,000 in closing funds to a bogus account. Bill and Kelly Adair later managed to close on their Bartow County home, but say the hit was immediate and painful, financially and emotionally, since they had to raid retirement savings to fill the hole the scam left behind.
According to WSB-TV, the Adairs received what looked like a routine email from their realtor with wiring instructions, followed by a message listing the total due as just under $9,000. Everything appeared normal until they discovered the agent’s email account had been spoofed. By then, the money was gone, and the couple now urges other buyers to slow down and verify instructions before sending a single dollar.
Their ordeal mirrors a national spike in real-estate wire redirection schemes. According to the FBI 2024 Internet Crime Report, Americans reported more than $16 billion in cybercrime losses last year, and business-email-compromise attacks, the same technique used to hijack closing wires, continue to rank among the most expensive forms of fraud. Law enforcement officials say these scams move at high speed, which makes fast verification and equally fast reporting critical.
How the scam works
In many cases, scammers either break into a legitimate inbox or set up an address that looks nearly identical to a real one, then slide in at the last minute with “updated” wiring instructions as closing day gets close. Industry data shows the attacks are highly targeted rather than random. The CertifID State of Wire Fraud report finds first-time buyers are especially vulnerable and often do not realize anything is wrong until the title company asks why the wire never showed up.
Protecting your closing
Experts say a few low-tech habits stop most attempts cold. Always confirm wiring instructions by calling a phone number you already have for your agent, title company, or lender. Do not call a number or click a link that arrives in an instruction email, no matter how official it looks. Whenever possible, ask that the closing be handled through a secure portal instead of regular email. The American Land Title Association’s consumer guide boils it down to “call, do not email” and offers a checklist buyers can run through before sending funds; see the American Land Title Association HomeClosing101 site for practical steps.
If the wire has already gone out
If you discover that a wire has been sent to a fraudulent account, time becomes the enemy. Contact your bank immediately and ask them to initiate a recall, notify the closing company and your lender, and file a complaint with the FBI’s Internet Crime Complaint Center (IC3). The IC3’s Recovery Asset Team has managed to freeze and return funds in some cases when victims and banks move very quickly. Once money is withdrawn or bounced through multiple accounts, though, the odds of getting it back drop sharply. The FBI annual report includes more detail on reporting and recovery resources…