If you believe your closing funds went to the wrong place, the next few hours matter more than anything else. Recovery is possible, but only if you move fast. Here is exactly what to do, in order, the moment you suspect fraud.
Written by Anthony I. Shin, Esq., Principal and real estate attorney at Prime Title & Escrow
This is the article I hope you never need. But if a wire has gone wrong, panic is the enemy and speed is your ally. The steps below come straight from FBI and American Land Title Association guidance, and following them quickly gives you the best chance of getting your money back.
When a wire is misdirected by fraud, the funds are often pulled out or sent overseas within a day, sometimes within 12 to 24 hours. That short window is why the first move is to call your bank immediately, before anything else. The faster a fraudulent wire is reported, the better the odds it can be frozen and recovered.
Do these things now, in this order
Call your bank immediately. Report the wire as fraud and ask them to contact the receiving bank to request a recall or reversal. Provide the transaction details. This is the first call you make, before anything else.
Ask for the FBI Financial Fraud Kill Chain. Ask your bank to initiate the FBI Financial Fraud Kill Chain, the process the FBI Recovery Asset Team uses to freeze fraudulent wires while the funds may still be in the receiving account.
Notify everyone using known numbers. Call your settlement agent, agent, and lender using phone numbers you already trust, not numbers from any suspicious email, so everyone can secure their accounts and watch for further fraud.
File a report at ic3.gov. File a complaint with the FBI Internet Crime Complaint Center at ic3.gov with the transaction details. The FBI asks victims to notify their financial institutions first, then report.
Tell me right away. Contact my office at a known number so I can help coordinate with the banks and parties and document what happened.
Why speed works
These steps are effective because the money does not vanish instantly. For a short time it sits in the receiving account, and a fast recall plus the FBI Financial Fraud Kill Chain can freeze it. In its 2025 report, the FBI says its Recovery Asset Team froze $679 million across roughly 3,900 incidents, with a success rate of 58 percent. Those recoveries happen when victims act within hours, which is the whole point of moving fast.
If you are not certain whether a wire was fraudulent, act anyway. It is far better to call your bank and the FBI about a transfer that turns out to be fine than to lose hours confirming a fraud you could have frozen. The cost of a false alarm is a phone call. The cost of waiting can be your entire transfer. When in doubt, treat it as urgent and call.
After the immediate steps
Once the urgent calls are made, keep records of every conversation, including names, times, and reference numbers, and follow up with your bank to confirm the recall request was processed. Consider contacting local law enforcement as well. I can help you organize this and stay in contact with the parties so nothing falls through the cracks.
This response plan applies to closings across Virginia and West Virginia. I hope you never have to use it, but knowing it in advance means that if the worst happens, you will act in minutes instead of losing the hours that matter most. The best outcome, of course, is to never reach this point, which is why I focus so hard on sending funds safely in the first place.
Call your bank first, then reach me at (703) 552-4155 and I will help you coordinate the recall and the reporting right away.
Get Your Free Quoteor call (703) 552-4155Frequently asked questions
What should I do if I wired money to a scammer?
Act within hours. Call your bank immediately, report the wire as fraud, and ask them to request a recall and to initiate the FBI Financial Fraud Kill Chain. Notify everyone in the transaction using known phone numbers, then file a report at ic3.gov. The recovery window is often as short as 24 hours.
How long do I have to recover a fraudulent wire?
Often very little. Industry and FBI guidance describe a window frequently measured in hours, sometimes as short as 12 to 24, before funds are withdrawn or sent overseas. That is why speed is everything, and why you should call your bank before doing anything else.
What is the FBI Financial Fraud Kill Chain?
It is a process the FBI uses to freeze fraudulent wires. When a qualifying fraudulent transfer is reported quickly, the FBI Recovery Asset Team works with banks to freeze the funds. In its 2025 report, the FBI says this process froze $679 million across roughly 3,900 incidents. Ask your bank to initiate it and file at ic3.gov.
Where do I report real estate wire fraud?
File a complaint with the FBI Internet Crime Complaint Center at ic3.gov, and notify all financial institutions involved first. You may also contact local law enforcement. Reporting quickly and completely improves the odds of recovery and helps investigators.
Can a fraudulent wire be reversed?
Sometimes, if it is caught fast enough. A recall request and the FBI Financial Fraud Kill Chain can freeze funds that are still in the receiving account. The longer the delay, the lower the chance, which is why immediate action is essential.
This article is general information about responding to suspected wire fraud in Virginia and West Virginia. It is not legal or financial advice, and it does not guarantee recovery, which depends on timing and the institutions involved. If you suspect fraud, contact your financial institution immediately, then file at ic3.gov.