Security Corner Blog

Wire fraud continues to be one of the fastest-growing threats in real estate—especially during closing, when large down payments are on the line. Cybercriminals are impersonating trusted professionals and intercepting emails to send fake wire instructions, often resulting in devastating financial loss.

At USSFCU, your security is our top priority. If you're planning to buy a home or wire money for a major transaction, follow these important steps to protect yourself.

Three Essential Steps to Avoid Wire Fraud

1. Pay close attention to how wire instructions are sent.
Only accept wire instructions through secure and encrypted channels. Avoid clicking on email links or downloading attachments from unknown sources. If anything seems off, take a step back and verify before proceeding.

2. Always confirm instructions by phone.
Use a trusted, verified phone number to contact your realtor or title company before sending money. Never rely on contact information listed in an email about wire instructions—scammers often use look-alike email addresses and phone numbers.

3. Be wary of last-minute changes.
Wire instructions rarely change. If you receive an email with updated instructions or a sense of urgency, treat it as a red flag and confirm the change independently.

Additional Tips to Strengthen Your Defense

Use Multi-Factor Authentication (MFA)
Enable MFA on your email and financial accounts to protect against unauthorized access, even if your password is compromised.

Avoid public Wi-Fi when reviewing wire instructions
Only access sensitive financial information on secure, private networks.

Verify all contact info independently
Use only known phone numbers and email addresses when confirming instructions. Don’t rely on contact info within a suspicious email or hit “reply” to communicate.

Be suspicious of urgency
Emails that pressure you to act immediately or keep the transaction confidential are a common scam tactic. Slow down and verify.

Don’t trust outdated emails
Avoid using wire instructions from old messages. Scammers may manipulate previous email threads—always confirm details before acting.

Suspect Wire Fraud? Here's What to Do

Act quickly to limit damage:

Contact your financial institution’s fraud department immediately.
There may be a limited window to attempt to stop or investigate the transfer before it's finalized.

Verify with the recipient
Immediately ask your title company, realtor, or seller whether the funds were received. If not, assume the transfer was compromised.

Notify all parties, including:

• Your realtor and title company
• Your financial institution’s fraud/security team
• The FBI Internet Crime Complaint Center at www.ic3.gov
• Your local police and FBI field office

Consult your attorney
They can guide you on next steps, including breach notification laws and potential recovery options.

Change all passwords immediately
Start with your email, financial accounts, and any shared logins related to the transaction.

Stay Informed, Stay Secure

Wire fraud is sophisticated, fast-moving, and devastating—but it’s also preventable. Educating yourself is the first step toward protecting your money.

If you're unsure about any part of the transaction, reach out to a trusted contact at USSFCU for guidance. Call us at 800-374-2758—we’re here to help.

Article content is provided for information purposes only.