Don't Get Hacked at Closing: Preventing Wire Fraud and Securing Escrow Funds

Matthew opens with a real escrow story: a buyer received fraudulent wiring instructions days before closing and nearly wired the entire purchase price to a scammer. In this episode he unpacks how wire-fraud schemes and bad communication habits create high-risk moments at closing, then breaks down three concrete lessons: verify wiring instructions through independent channels, use escrow-account best practices and holdback options, and implement simple process controls like call-backs and multi-person verification. You’ll get a step-by-step checklist for the last 72 hours of escrow, a short technology hygiene list for secure communication, and agent-ready scripts to guide clients through payment verification. Educational and practical, this episode leaves first-time buyers and busy agents with a one-line action they can use right away and a compact checklist to keep on their phone.