Cybercriminals stole $275 million from homebuyers and sellers in 2025 — and they're getting smarter. Discover the top scams hitting real estate transactions right now and the five steps that can protect your Saratoga Springs home purchase.
When Raegan Bartlo and her husband wired a $255,000 down payment just days before their closing, everything looked legitimate — the email had accurate timing, familiar branding, and correct transaction details. It wasn't until closing day that she learned the funds had never arrived. "That's when my world fell apart," she said. "It's a horrible, horrible feeling to have all your savings stolen from you."
Bartlo's story is not rare. According to the FBI's latest figures, Americans lost $275 million to real estate-related fraud in 2025 alone. The scams are growing more sophisticated by the month, powered by artificial intelligence — and they target buyers, sellers, and real estate agents alike.
BY THE NUMBERS
• $275 Million lost to real estate fraud in 2025
• 1 in 5 buyers targeted during closing
• $70,000+ median loss per victim
WHY REAL ESTATE IS SUCH A RIPE TARGET
Home purchases represent the largest financial transaction most people ever make — and the process involves a mountain of paperwork, multiple parties sharing sensitive data over email, and buyers who are often unfamiliar with the details of closing. That's a perfect storm for fraud.
Cybercriminals monitor email chains, learn the timeline of your transaction, and strike at exactly the right moment — typically just before funds need to move. One convincing message can redirect your entire life savings to an account they control.
"Security has to be part of the deliverable of the transaction. You wouldn't buy a car without seatbelts or airbags."— Tom Cronkright, CEO of CertifID
THE SCAMS YOU NEED TO KNOW
Wire Fraud & Email Hijacking
Criminals hack into email accounts, monitor your transactions, and send fake wiring instructions — often impersonating your attorney, title company, or lender at the last minute.
Seller Impersonation
Scammers pose as property owners — especially for vacant land and unoccupied homes — convincing agents to list and sell property they don't own. Two in 10 title companies experienced this in April 2024 alone.
AI Deepfakes & Synthetic Identities
Fraudsters now use AI to generate convincing fake IDs, clone voices, and create social media profiles to build trust with buyers, sellers, and professionals.
Pig Butchering Crypto Scams
A growing threat targeting agents directly — scammers build trust over weeks, encourage victims to invest in fake cryptocurrency platforms, and then vanish. The Secret Service linked this scam to $15 million in agent losses.
IMPORTANT: Anyone Can Be a Victim
The FBI's data show that victims in their 20s, 30s, 40s, and 50s submitted an equal number of fraud reports. These scams are engineered to fool careful, informed people.
WHAT YOU SHOULD DO RIGHT NOW
1. Talk about fraud at the very start — not at closing.
At your first meeting with your agent, ask how funds are transferred, who sends wiring instructions, and how you can independently verify any requests. Don't wait for closing day to learn the process.
2. Always verify wiring instructions by phone — using a number you already trust.
Never call a phone number included in an email with new wiring instructions. Find the number independently and call to confirm before sending anything.
3. Treat last-minute changes as a red flag.
Legitimate title companies and attorneys almost never change wiring instructions at the eleventh hour. If you receive a last-minute change via email or voicemail — stop, verify, and slow down.
4. Act immediately if something goes wrong.
If you suspect fraud, contact your bank and the receiving bank at once. File a complaint at IC3.gov. The FBI's Recovery Asset Team has successfully frozen fraudulent accounts when victims reported quickly.
5. Ask your agent what protections they have in place.
61% of consumers feel anxious about their funds during a transaction. Your agent should be able to explain what identity verification, secure communication channels, and recovery plans exist at their brokerage.
WHAT AGENTS AND BROKERS SHOULD BE DOING
Industry experts say the burden of protection cannot fall solely on buyers. Tom Cronkright of CertifID urges brokerages to standardize safeguards — identity verification, secure communication channels, and ongoing staff training.
"Whether it feels like we're talking about it a lot as an industry or not, that message is somehow getting lost and not ending up with the consumer."— CertifID, 2024 State of Wire Fraud Report
60% of consumers report they received little to no fraud education from their agent, title company, or attorney. That has to change.
THE BOTTOM LINE
Buying or selling a home in Saratoga Springs should be one of life's defining milestones — not a moment of financial devastation. The scams targeting real estate transactions are real, increasingly sophisticated, and growing. But they are also preventable.
With the right questions asked early, verification habits built in, and professionals who proactively communicate protections, buyers and sellers can move through the process with their savings — and their peace of mind — intact.
The best defense is the one you put in place before you ever receive a wiring instruction. Start that conversation today.
Sources: REALTOR® Magazine | FBI Internet Crime Complaint Center (IC3) | CertifID 2024 State of Wire Fraud Report | 2026 State of Wire Fraud Report
To report real estate fraud, visit IC3.gov
