My realtor got another email from the perp last night, confirming the moving out of the closing, so we are hoping that means they haven’t been able to access the funds yet. (Why would they keep communicating if they had my money?). She is playing along to keep him at bay.

Also hoping that WF noticed that the account number didn’t match the name on the wire (our title company) and held it Wednesday pending confirmation.

Call the DOJ. They will send you in the right direction

Department of Justice Main Switchboard
(202) 514-2000

Consumer Fraud and Identity Theft
Contact the Federal Trade Commission at 1-877-FTC-HELP, 1-877-ID-THEFT, or online at www.ftc.gov.

Internet Fraud and Lottery/Sweepstakes Fraud by Internet
Contact the Internet Crime Complaint Center (IC3) online at www.ic3.gov.

Search How Do I Report Wire Fraud? Yes, you will need a police report. You will also need to report it on a Federal Level. Good advice to freeze credit. They have most of your important information. You may have some coverage via current homeowner's insurance. It's worth checking with your agent.

In each case that a new credit card had opened in my name, I was required to write to the Store or purveyor disclaiming any charges and disavowing knowledge of any unauthorized user. I was required to reference the local police report!

My favorite part of it was a three way telephone call between a bank, Home Depot in Miami, FL< and myself. The Perp had come in to establish a Credit Line against my credit. They sought my permission to apprehend her when she returned. I, of course, assented. Home Depot got off the call and the bank explained to me that they were covering their butt in case my girlfriend and I were running a scam.

a) The woman did not return

b) My wife does not allow me a girlfriend

(SaltiDawg, lol!)

Following to learn real-world experiences -- (in the movies, there'd be a whole office full of brilliant, good-looking agents ready to nail that perp!) -- and hoping to log in soon and see that weedyacres' situation was successfully resolved.

Update: My bank just called and said WF was sending over indemnification paperwork for the wire recall request for my bank to sign. That's a hopeful signal, though WF has not confirmed if they have the money (all or part), or have approved the recall request.

My banker also said that since the name on the wire was my title company, not the WF account holder, it would have been a "serious breach" of good security practices by WF to not hold it and investigate further.

So a couple more signs of hope. He also said they had a similar situation with BOA last year and just got the money back, after filing complaints with all sorts of regulatory agencies due to BOA's foot dragging on funds release. WF is working "at the pace expected" according to him, so we are all keeping fingers crossed.

weedy it does not matter if either place has your money at this point. The money is covered under their fraud insurance. I am posting this as a reassurance that the amount taken will be returned.

Both banks have to sign the indemnification agreements before the money will be returned. The indemnification agreements are to tell the insurance company that there was apparent fraud. The insurance company along with federal or international agencies will investigate from there and it is out of the control of the banks. After that you probably because of both banking regulations and privacy laws will hear nothing more about the money.

FYI: I had money stolen from my WF account. I think WF handled the situation in a reasonable amount of time and my money returned. Still... it pays to stay on top of things and not let things drag on.

I want to thank homechef59 for all those numbers and links. I took a screen shot and stored them for future reference.

Sorry this happened to you and hoping you can recover your funds. I send wire transfers for my employer and our bank is always reminding us to verify any new wiring instructions by calling the recipient, not by email. I'm trying to spread this advice to avoid anyone else having this problem.

Weedy, I can't help you with the legal part. What I'd like to remind you to do is eat something, and breathe. Deep, cleansing breaths, if you can step outside to breathe a few minutes and clear your head a few times today, all the better. You'll feel improved if you can just do that.

Banks are insured against wire fraud? That's news to me.

I googled a bit and found this interesting article.

An encouraging quote: Our anecdotal rule of thumb is a near full recovery is possible if the theft is reported within 24 hours. Fraud discovered after 2 business days rarely ends with a significant recovery. The period in the middle is difficult to accurately predict.

@morz8: It's currently 95 degrees with 70% humidity outside, so I will opt to do my deep breathing indoors today. :-)

What a horrendous thing to have happen!!!

Oh, dear. 67F, cloudy and breezy here next to the ocean. You could do deep breathing in a sweater on my patio...but please take care and do what you can.

weedy look up what the term indemnification means. You mentioned that the banks were doing indemnification paperwork.

What is WF? A bank? Everyone keeps saying "WF" is doing stuff -

Probably Wells Fargo or at least that is what I took it for. At one time the 13th largest bank.

WF=Wells Fargo.

I am very aware of what indemnification means, maifleur. Not quite understanding your point.

I’m in a small town in the Midwest. I agree that this sort of scam seems entrenched enough that I would expect every realtor and title company to be warning customers about it.

I have always attended the closing with a certified check in hand. I realize not everyone is always able to attend a closing but that is what has worked for me.

@new beginning: no one accepts cashiers checks for houses any more due to too much fraud with them. Everyone is wires only now.

itsminenow here you can take or have sent to the title company a cashiers check. Nothing ever goes to the real estate company once the closing is setup. Back several years ago you actually handed the check to the people doing the closing but now most want it before the meeting with the buyer so that they can call the bank to put a hold on the amount.

Wiring funds is not a "small time in the midwest" thing. It is required in many cities of all sizes and locations. Cashiers checks are not accepted, nor do all locations have closing meetings to attend.

Weedyacres posted about a very stressful situation, why is she getting beat up for not knowing about the fraud or buying a house in "small time midwest"?

Hope that by today you have answers and the funds are in the right place.

Agree with C Marlin. In our area no cashiers checks are accepted for closing. Closing funds must be wired to the title co or closing attorney's office. I don't remember how long this has been in effect - many years as I recall. There are warnings on every email from the title co/attorney office about wire fraud and even a standard state contract form for the buyers to sign to acknowledge the prevalence of wire fraud and what to do to avoid it.

A typical wire fraud email signature notice is below:

IMPORTANT NOTICE:Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.

I am so sorry that your title co and Realtor didn't follow protocol about warning you as these scams are nationwide. Maybe even worldwide, but I don't know about that part at all.

I hope that you get your funds back.

https://www.cnbc.com/2018/08/31/how-scammers-trick-new-homebuyers-with-wire-fraud.html

Thinking of you Weedy, Hope you will be getting news that brings relief very soon. Sorry you are going through this.

My bank contacted WF this morning for an update, but has not yet heard anything. Dang, this waiting game is tough.

If the 'fraudster' hasn't contacted you or the agent about the delay with closing I am guessing the funds have gotten 'held back' and the 'fraudsters' are laying low. Hoping that is the case.

" Surprised that the CC companies required a police report since they do their own investigating and normally do not ..."

I should possibly have been clearer. Sak th, Sears, and a few others were the credit cards that ALL required a copy of the Police Report. They need to be sure it is not ME making the charges and claiming I did not. The Police Report puts an additionalu burden and crime on my back if I am the perp. Just Speculating...

But in any event it is a simple fact that the local police report was required even tho all of the frauds were out of the area. (The year was like 2003 IIRC. I still have the files.)

FUNNY: The woman impersonating me was thought to be a member of an African ring. She took my last and first names and reversed them. Obtained credit cards using my MD Credit Historey, and other fbricated info. She said she/"I" lived in Miami.... never set foot there. The first thing she dis was max out a $5K Credit Card at Saks.

From then on she was described as a heavy set black woman, well dressed, with a Michigan Driver's License. Her name was MY Last, My first, and of course our races and genders were different

Anyone else got it figured out why she was well dressed? LOL

Weedy, sorry you are having to go through this. I appreciate you posting as we are closing on a lot in a few weeks and we will be sure to double check all the transfer details. I also shared all this info with DH.

I shared the story with my spouse too. We've bought/sold in 2 different states and they've both been states where funds transfer in checks at the closing table. We've learned a lot from this and I appreciate Weedy sharing it. I also sent him the link Denita shared above. I just can't imagine how horrifying this is.....

I'm pulling for you Weedy, and keep hoping this will work out for you!

Holy cow. That's wonderful news. I didn't want to say it out loud before now - but I felt sick for you because I thought that money was gone forever for sure. Especially after reading the article Denita posted....

You acted quickly and I think you lucked out a little bit too.

May you have a happy and uneventful closing from here! :)

Great News! So happy it worked out for you.

So happy for you! It was hard to imagine the distress you must have been in but I'm grateful you can put that behind you.

Wow....so glad you received the majority of the funds back. I also believe it is because you jumped on it immediately. I personally didn't think you were going to get the funds, but I am so glad you did get them. Congrats on your closing today.

great news --FYI for other folks reading this - there are still some states where a cashier's check is OK (my grandson closed on a $260K home in April with a cashier's check - we are in a small town in Texas). It wouldn't hurt to ask your realtor about how closing funds are handled.

From The Department of Justice Web Site, " Citizens who are aware of federal crimes should report them to local offices of federal law enforcement. "

DOJ Reporting

The DOJ Says to report it to your local police also!

" Citizens who are aware of federal crimes should report them to local offices of federal law enforcement. "

DOJ Reporting Instructions

For the legal reasoning:

Legal Reasoning

Weedyacres, what a relief -- I'm so happy for you! Thank you for sharing your story ... valuable education.

Thanks to everyone for your well-wishes and helpful information.

Saltidawg: I reported the fraud to both our local PD and the FBI.

At the closing, the title agent said WF called her Thursday (same day we reported) and asked her questions about the intended transaction. She said it was a yes-or-no question sort of thing, and they wouldn't answer any of her questions, other than verifying that they had frozen the account.

I consider us very lucky that we discovered it quickly and grateful that WF jumped right on it and investigated and remedied it expeditiously.

We walked through the house this evening. Another renovation about to commence.....

You're my hero.

I'm SO glad, Weedy!! What a relief this must be for you!

Maybe now you can get some sleep.

Hoping the rest of the transaction is smooth sailing!

I'm soooo glad to hear that the funds were recovered! As others have said.... good you got on it right away. Congratulations on your new home.

Wonderful news. However, given Wells Fargo’s well publicized shenanigans, my cynical, suspicious side would want to know the “unspecified reason” for the missing “ couple of thousand”.

I know you have a lot on your plate, but I'd pursue that missing couple of thousand.

homechef59

I know you have a lot on your plate, but I'd pursue that missing couple of thousand.

I agree. That's odd.

Very happy for you!

That is great news! Glad you got most of it back - although I agree it is odd you're not getting the full amount back.

Just catching up with this saga. Very happy you got most of the money back. I'm really surprised your agent didn't catch this. Even 10 years ago when I worked as a agent I kept a list of the wiring instructions for each title company in town. Title companies refused to email directions. It was always a fax or a call. We were also under strict instructions from the broker to have buyers
verify the instructions with the title companies via a call. My daughter and son-in-law closed on their first house a few weeks ago. I stayed out of it unless they asked for my advice (and they did), with ONE exception. I told them both to verify the account number with the title company via a call.

Scammers will insert themselves into an email thread and send the directions with a different account number. Sounds like what happened here. Just super happy for you that it worked out. Good luck on the reno.

We just wired our funds to the title company and I had DH confirm with a call before he hit the send button! They received it and closing is tomorrow.

Weedy, thanks for posting and reminding all of us to double check and verbally confirm all the details.

weedy I'm seeing this for the first time but wanted to chime in and say I'm so glad it worked out for you! I really appreciate you sharing this, not just for buyers, but for sellers too, because if a buyer loses all their money the seller is back to square one (with all that stress.) For buyers this could be a devastating heartbreak that would take years to recover from.