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The Wire Fraud Warning

March 16, 2023 By Doug Francis

I sat in on a presentation by an FBI Special Agent who discussed many types of financial fraud which are being used across the internet. Victims are everywhere including real estate buyers and investors, to lonely widows in romance scams who unwittingly launder large sums of money for fraudsters.

But let’s just focus on Real Estate

The reality is, in 2023, your email may have already been “hacked”.

And that “bot” is lurking, just waiting to identify specific jargon relating to a real estate sale.

Terms the sinister bot may be searching for:

  • Sales Contract on a house
  • Closing or Settlement instructions
  • Wire funds
  • Cash to close
  • Mortgage instructions
  • Funds needed for Closing
  • Prepaid Items
  • Settlement Statement
  • Closing Costs
  • and the list goes on

The “bot” is waiting to identify common real estate jargon or terms, and, at the precise moment, will send you a spoofed email with new wiring instructions that all look legit. There may be an additional letter in the address, have a sense of urgency like “right away”, have misspellings, or use an old-school word like “kindly…”.

If that last-minute email just happened to you, then pick up the phone using a number you already know to call your agent or title and escrow office. Confirm the instructions with someone you know!


When wiring money, never rely exclusively on an email, text, fax, or social media message communication.


Today, most of my clients already have their accounts set up with permissions that allow them to transfer funds or wire funds. Electronic banking works for me and I’m sure for you too.

You still need to remain vigilant, especially if, when you are sending your money to the Title Company, you get a call from your bank asking you to confirm that “you requested $25,000 to be wired?”

Rather than just saying “yes’ and feeling protected, ask them “to what account is it being sent?”

How to contact the FBI – act quickly!

Contact the FBI within 72 Hours of wire fraud at www.ic3.gov – the FinCEN Rapid Response Team

Very Important information for the Financial Fraud Kill Chain:

  • Victim Name
  • Victim Location
  • Originating Bank Name
  • Originating Bank Account Number
  • Beneficiary Name
  • Beneficiary Bank Account Number
  • Beneficiary Bank Location
  • Internedi\ediary Bank Name
  • SWIFT Number
  • Date of Transfer
  • Amount of Transfer
  • Summary of Incident

Be Careful out there…

The real estate agreements I use here in the Vienna real estate market are created by the Northern Virginia Association of Realtors. These all contain consumer warnings, and our company also includes a one-page Notice that is signed by buyers and sellers.

You want to wire your money to the right people!

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Filed Under: Blog, Featured Posts, Home Buyer Tips, Home Seller Tips Tagged With: Home Buyer Tips, Home Seller Tips, Vienna Virginia

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In-depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" global ad campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna (#3!). He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

I’m so excited that you found me! Yes, this site covers real estate, but also a lot about lifestyle and  living in Vienna, Virginia outside Washington, D.C.

There is a lot of info here, and you can also contact me with any specific real estate questions. And, at home consultations are available too.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let me help you: Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

Filmed in Vienna and McLean

https://youtu.be/ClqEIV1zoQg

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The Wire Fraud Warning

I sat in on a presentation by an FBI Special Agent who discussed many types of financial fraud which are being used across the internet. Victims are everywhere including real estate buyers and investors, to lonely widows in romance scams who unwittingly launder large sums of money for fraudsters. But let’s just focus on Real […]

“Doug nailed it! Within days, we had three offers, one of which not only met, but far exceeded all of our goals.”
– R. Pollard

“He truly was a partner integrating us unto the community and made it easy for us to take advantage of all Vienna has to offer.”
– A. D’Eredita

“We are so thankful we found Doug to guide us through the complex home selling and buying processes!”
– Scott and Jennie

About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for 2023 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
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