My Post Posted on September 21, 2018 - 10:19 AM by Michael Sullivan From CNBC Scammers are tricking people out of enormous payments as they're about to close on a house A new variant of wire fraud schemes is increasingly targeting homebuyers. Buyers are tricked into wiring their downpayment on the day of closing to a fraudulent offshore account, often by criminals who have spoofed or co-opted their real estate professional's email account. Losses from these scams are typically not covered or reimbursed by the bank. Since the wires go overseas, it's nearly impossible for victims to recover their money. Victims have lost six-figure sums and had to cancel transactions on their dream homes due to this fraud. Kate Fazzini Published 5:01 PM ET Sun, 2 Sept 2018 CNBC.com Comments There are no comments for this post.