The Coalition to Stop Real Estate Wire Fraud aims to:
- raise awareness of wire transfer fraud and educate homebuyers, real estate and mortgage professionals, and policy makers about the urgency of the problem;
- provide concrete steps that people can take to prevent the risk of fraud;
- and identify and empower those who have been victimized to tell their story and advocate for solutions.
Frequently Asked Questions
How prevalent is real estate wire transfer fraud?
- The FBI’s Internet Crime Report identified 11,300 U.S. victims of real estate wire fraud in 2018, who lost a combined $149 million.
- Between 2017 and 2018, FBI data show a 166% increase in the amount of money lost due to real estate wire fraud in the U.S.
- Email phishing scams targeting real estate transactions exploded by 1,100% between 2015-2017.
- 47% of major financial institutions reported a rise in wire fraud in the last year.
- 20% of Americans click on links in phishing emails that look legitimate, while 50% of Americans click on links in personalized spearphishingemails that look legitimate.
How can I help?
Tell us your story. Many people know they can be scammed online, but few realize they can be victims when making one of the largest purchases they’ll ever make. By joining the Coalition, you can help raise awareness and let people know they’re at risk.
What should I do if I’m a target of real estate wire transfer fraud?
If you think you’ve been a target, see here for next steps.
I’m thinking about buying a new home, how can I protect myself?
If you’re in the market, learn how to protect yourself from real estate wire transfer fraud here.
How can I protect my clients from real estate wire transfer fraud?
If you’re a professional, learn how to protect your clients and their investments.