Wire Fraud Protection: What You Need to Know
- platinumtitleandescrow
- Jan 20
- 8 min read
Updated: Jan 22
Protecting Your Largest Investment from Cybercriminals
The Sobering Reality: A Las Vegas Couple's Near Miss
Last month, a Henderson couple was minutes away from wiring $78,000 to criminals posing as their escrow company. They received an official-looking email with updated wire instructions, complete with our company logo and formatting. Fortunately, they called our office to confirm before sending the funds—and discovered they'd been targeted by sophisticated wire fraud criminals.
They were one phone call away from losing their entire down payment.
This isn't a rare occurrence. According to the FBI's Internet Crime Complaint Center, Americans lost over $396 million to real estate wire fraud in 2023 alone. In Nevada, where the real estate market is booming, these attacks are increasing at an alarming rate.
At Platinum Title and Escrow, protecting your funds is our top priority. Here's everything you need to know about wire fraud—and how to protect yourself.
What is Real Estate Wire Fraud?
Real estate wire fraud occurs when cybercriminals intercept communications between buyers, sellers, real estate agents, lenders, and title companies. They pose as legitimate parties in the transaction and trick victims into wiring funds to fraudulent accounts.
How It Works:
Email Compromise: Hackers gain access to email accounts of real estate professionals, title companies, or buyers
Monitoring: They silently monitor email conversations about your transaction, learning details, timelines, and parties involved
The Strike: At the critical moment—usually right before closing—they send fraudulent wire instructions that look completely legitimate
The Theft: Once you wire funds to the fraudulent account, the money is immediately moved through multiple accounts and often overseas, making recovery nearly impossible
Red Flags: How to Spot Wire Fraud Attempts
🚩 Warning Signs in Emails:
Sudden changes to wire instructions, especially via email
Urgent language like "wire immediately" or "we need this today"
Slight variations in email addresses (platinumtitle vs platinumtit1e with a "1")
Generic greetings like "Dear Client" instead of your name
Poor grammar or spelling in supposedly professional communications
Requests to wire funds to a different account than previously discussed
Pressure to act quickly without verbal confirmation
Free email domains (Gmail, Yahoo) when you've been communicating with company domains
🚩 Suspicious Scenarios:
Receiving wire instructions for the first time via email without prior discussion
Wire instructions sent outside of business hours
Instructions arriving from a new or unfamiliar email address
Being told "our bank changed" right before closing
Requests to send wire transfer confirmations via email
How Platinum Title and Escrow Protects You
Our Multi-Layer Security Protocol:
1. Verified Communication Channels
We provide wire instructions only through secure, verified methods
All wire instructions are delivered in person, via phone, or through our secure client portal
We never send wire instructions via email as an initial communication method
2. Consistent Wire Instructions
Your wire instructions will not change once provided
All wires go to our established, verified Nevada trust account
If any change is necessary (extremely rare), we require in-person verification
3. Mandatory Verbal Confirmation
We require you to call our office at (702) 498-4782 to verify all wire instructions
You must speak directly with your assigned escrow officer
We use security questions to verify your identity
4. Secure Document Delivery
Sensitive documents are sent through encrypted portals
We use two-factor authentication for client access
All communications are logged and monitored
5. Staff Training & Vigilance
Our team receives ongoing cybersecurity training
We use advanced email filtering and security software
Regular security audits of our systems
6. Pre-Closing Verification Call
24-48 hours before closing, we personally call you to confirm:
Wire amount
Wire instructions
Closing date and time
What to bring to closing
Your Wire Fraud Protection Checklist
✅ Before Wiring Funds - DO THIS EVERY TIME:
1. NEVER trust wire instructions received only via email
Even if they look official
Even if they have the company logo
Even if they seem to come from your escrow officer
2. ALWAYS call to verify using a phone number you find independently
Don't use phone numbers in the email
Look up the company's number on their website or Google
Call our verified number: (702) 498-4782
3. VERIFY all details verbally:
Recipient bank name and address
Account holder name (should be the escrow company)
Routing number and account number
Wire amount
Your file or escrow number
4. CONFIRM with your escrow officer that they sent the instructions
Use security questions established at opening
Ask them to repeat details from your file
Verify the name of your assigned officer
5. WIRE during business hours when possible
Monday-Friday, 9 AM - 4 PM
This allows immediate verification if issues arise
Banks can stop wires more easily during business hours
6. SAVE confirmation that you called and verified
Note the time, date, and person you spoke with
Keep this with your closing documents
7. REQUEST a wire recall immediately if anything seems suspicious
Contact your bank within minutes if you suspect fraud
Time is critical - funds are moved quickly
File a complaint with the FBI's IC3 (www.ic3.gov)
What to Do If You've Been Targeted
If You Receive Suspicious Wire Instructions:
DO NOT wire the funds
Call Platinum Title and Escrow immediately: (702) 498-4782
Forward the suspicious email to: jfitzgerald@platinum-title.net
Save all communications - do not delete anything
Change your passwords for email and financial accounts
If You Already Sent Money to Fraudsters:
Act within MINUTES - not hours:
Call your bank immediately and request:
Emergency wire recall
Fraud department escalation
Freeze any additional transfers
Call our office: (702) 498-4782
We'll coordinate with authorities
Provide documentation for your claim
File an FBI report:
www.ic3.gov (Internet Crime Complaint Center)
Include all emails, wire confirmations, and communications
Contact local police:
Las Vegas Metropolitan Police: (702) 828-3111
Henderson Police: (702) 267-4911
Notify your lender if financing is involved
Important: The first few hours are critical. Most victims who recover funds act within the first 24 hours.
Real-World Las Vegas Wire Fraud Cases
Case 1: The "Updated Instructions" Scam
A Summerlin buyer received an email appearing to be from their title company with "updated wire instructions" two days before closing. The email explained that their bank account had changed. The buyer wired $125,000 to the fraudulent account. Result: Total loss - funds never recovered.
What went wrong: Buyer didn't call to verify the change.
Case 2: The Compromised Agent Email
A real estate agent's email was hacked. Criminals monitored 6 active transactions and sent fraudulent wire instructions to 3 buyers. Two called to verify; one didn't. Result: $87,000 lost by the one who didn't verify.
What went wrong: Trusting email communication alone.
Case 3: The "Urgent" Friday Afternoon Wire
A buyer received an email Friday at 4:45 PM stating they needed to wire funds immediately or the closing would be delayed. Feeling pressured, they wired $92,000 to the wrong account.
Result: Partial recovery of $34,000 after FBI intervention.
What went wrong: Acting under pressure without verification.
Special Considerations for Nevada Real Estate
Why Las Vegas is a Target:
High Transaction Volumes: Las Vegas has one of the most active real estate markets in the nation
Large Wire Amounts: Median home prices mean large down payments
Out-of-State Buyers: Remote transactions are easier to manipulate
Investment Properties: Cash buyers wiring large amounts
Tourist Destination: Criminals assume wealthy buyers
Nevada-Specific Tips:
HOA Complications: Multiple wire transfers create more opportunities for fraud
Cash Transactions: All-cash deals require extra vigilance
Short Sale Timelines: Rushed transactions increase risk
Multiple Properties: Investors managing several closings simultaneously
Technology Tools That Help
What We Use at Platinum:
Encrypted Email: End-to-end encryption for sensitive communications
Secure Client Portal: Password-protected document sharing
Two-Factor Authentication: Required for portal access
Email Authentication Protocols: SPF, DKIM, and DMARC
Security Monitoring: 24/7 monitoring of our systems
What You Can Use:
Password Managers: Use unique, complex passwords (LastPass, 1Password)
Email Security: Enable two-factor authentication on your email
Antivirus Software: Keep your devices protected
Secure Networks: Avoid public Wi-Fi for real estate communications
Browser Security: Use HTTPS websites only
Questions We Hear Most Often
Q: Can I just call the number in the email to verify?
A: NO! Criminals include fake phone numbers. Always look up the company's number independently through their website or Google.
Q: What if my escrow officer sent it from their regular email address?
A: Email addresses can be spoofed. ALWAYS call to verify using an independent phone number, even if the email looks perfect.
Q: Is it safe to email my bank account information for earnest money deposits?
A: We prefer you provide this information verbally over the phone or through our secure client portal, never via regular email.
Q: How quickly can I get my money back if I wire to the wrong account?
A: If you act within the first few hours, there's a small chance of recovery. After 24-48 hours, recovery is extremely rare. This is why verification BEFORE wiring is critical.
Q: Will my bank protect me from wire fraud?
A: Most banks warn customers that wires are irreversible and the customer bears responsibility for verifying recipient information. Wire transfers have very limited fraud protection compared to other payment methods.
Q: Should I use a wire transfer or cashier's check?
A: For large amounts, wires are standard and necessary for timing. Just follow our verification protocol. For earnest money deposits under $10,000, cashier's checks are an alternative.
Q: What if I'm closing remotely and can't come to your office?
A: We have secure procedures for remote closings:
Video verification calls
Encrypted document portals
Mobile notary with ID verification
Multiple confirmation checkpoints
Our Promise to You
At Platinum Title and Escrow, we take wire fraud prevention seriously because we know this is likely the largest financial transaction of your life.
We promise:
✅ We will never pressure you to wire funds quickly✅ We will never change wire instructions via email without verbal confirmation✅ We will always answer your verification calls - even if you call multiple times✅ We will provide consistent wire instructions from the beginning✅ We will help you protect yourself every step of the way
Your caution is not an inconvenience to us—it's exactly what we want.
Take Action Today
Before Your Next Real Estate Transaction:
Save our verified phone number: (702) 498-4782
Enable two-factor authentication on your email
Discuss wire fraud protection with your real estate agent
Review this guide with anyone involved in your transaction
Bookmark the FBI's IC3 site: www.ic3.gov
Share this information with friends and family in real estate transactions
When You're Ready to Close:
📞 Call us at (702) 498-4782 to discuss wire fraud protection specific to your transaction
💻 Visit: www.timetogoplatinum.com/contact-4
📧 Email jfitzgerald@platinum-title.net
📍 Visit our office: 8778 S. Maryland Parkway, Suite 115, Las Vegas, NV 89123
Final Thoughts
Wire fraud is real, it's sophisticated, and it's targeting real estate transactions in Las Vegas every single day. But with awareness, verification, and the right precautions, it's preventable.
Remember the golden rule: When in doubt, pick up the phone and call us. We would rather you call us 10 times to verify than lose a single dollar to fraud.
Your largest investment deserves the highest level of protection. That's what we're here for.
About Platinum Title and Escrow, LLC
With 28+ years of combined experience, Platinum Title and Escrow is a licensed Nevada escrow company dedicated to protecting your real estate transaction. We serve Las Vegas, Henderson, Summerlin, and surrounding areas with personalized service, expert guidance, and unwavering commitment to security.
Licensed Nevada Escrow Company | Locally Owned & Independent | Your Trust is Our Foundation
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