Business email compromise (BEC) is the leading source of loss in real estate. In a typical Texas closing, attackers impersonate the title company or agent, send “updated wiring instructions,” and the buyer wires their down payment to a fraudulent account — often gone within hours.
How the Scam Works
- Attackers compromise or spoof an email account in the transaction.
- They monitor the closing timeline and wait for the wire.
- At the right moment, they send convincing fake wiring instructions.
- Funds are wired to the attacker and quickly moved offshore.
Why Spoofing Is So Easy
If a domain lacks an enforced DMARC policy, criminals can send mail that appears to come from the firm’s exact address. Check any domain at audit.emailmenow.com/?industry=title-companies.
How to Stop It
- Enforce DMARC (
p=reject) with explicitsp=reject; strict SPF and DKIM. - Establish verified call-back procedures — never trust wiring changes by email alone.
- Warn buyers in writing that wiring instructions will not change by email.
- Train every closer and agent on the BEC playbook.
Close the door on wire fraud. Contact EmailMeNow IT Consulting to secure your closing communications.
Source: FBI Internet Crime Complaint Center (IC3) — Business Email Compromise and real estate wire fraud