TL;DR: Agents coordinate large payments and documents between many unfamiliar parties. Confirm all wiring instructions by phone using a known number before every transaction, and flag any late change to payment details as a likely compromise.
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Agents coordinate large payments and documents between many unfamiliar parties.
Common Tactics Used
Business email compromise hijacks an agent's or title company's email thread to send fake wiring instructions at closing, and fake buyers submit fraudulent earnest money deposits.
How to Protect Against It
Confirm all wiring instructions by phone using a known number before every transaction, and flag any late change to payment details as a likely compromise.
What Family and Friends Can Do
Sudden secrecy about money, unusual withdrawals, or a new online relationship that stays undisclosed are all worth a calm, judgment-free conversation. The earlier a scam is caught, the more can usually be recovered.
If this looks similar to something else you've seen, it's worth reading Scams Targeting Recent College Graduates.
This pattern shows up elsewhere too — see Scams Targeting Remote Workers.
Frequently Asked Questions
Why are they specifically targeted?
Agents coordinate large payments and documents between many unfamiliar parties.
What tactics do scammers use?
Business email compromise hijacks an agent's or title company's email thread to send fake wiring instructions at closing, and fake buyers submit fraudulent earnest money deposits.
How can they protect themselves?
Confirm all wiring instructions by phone using a known number before every transaction, and flag any late change to payment details as a likely compromise.
What should family or friends watch for?
Sudden secrecy about money or new online relationships, unusual withdrawals or wire transfers, and reluctance to discuss a new "opportunity" or contact in detail are all worth a gentle, non-judgmental conversation.
What should I do if I think this has already happened?
Stop all contact and payments immediately, report it to the appropriate authority, and contact the bank or payment provider involved to see what can be recovered.