First-Time Homeowners Are 3x More Likely to Be Victims of Real Estate Wire Fraud, CertifID Report Reveals

Report identifies key risk factors for U.S. home buyers and sellers based on location, experience, and age.

AUSTIN, Texas & GRAND RAPIDS, Mich.--(BUSINESS WIRE)--CertifID, a leader in wire fraud protection, announced on Tuesday the release of its third annual State of Wire Fraud report. The report is the sole source of insight into the threats to American consumers in real estate transactions.

Real estate wire fraud has grown 50x in less than a decade, from $9M to $446M in annual losses reported to the FBI Internet Crime Complaint Center (IC3). Cybercrime has risen in the housing sector due to an often complex closing process involving multiple parties; public availability of property and listing data; and huge sums of money, with the median home sale price in the U.S. reaching $427k.

The report finds that over 1 in 4 consumers are targets of fraud in a real estate transaction, and nearly 1 in 20 become victims. The report also identifies unequal vulnerabilities in the U.S. homeowner population, with greater risk factors based on location, experience, and age. Additional key findings in the report include:

• 52% of consumers are “not aware” or only “somewhat aware” of the risks of wire fraud at the start of a real estate transaction.
• Only 47% of consumers were informed about the risks by their real estate professionals at the start of the process.
• Consumers aged 55 and older are 2x more likely to be unaware of wire fraud risks compared to those who are 44 and younger.
• First-time consumers look most often (35%) to their real estate agent to protect them from wire fraud, while experienced consumers look most often to their title company or attorney.
• Consumer awareness, wire fraud education, and victim rates vary significantly state to state.
• Overall, 79% of consumers are willing to pay more to work with real estate providers who prioritize their security from wire fraud.

“Delivering safe and secure transactions is not just good for the real estate industry; it’s our duty to consumers as they enter into the largest transaction of their lives,” said Thomas Cronkright II, Co-Founder and Executive Chairman of CertifID. “This data provides meaningful insight into the true impact of these crimes targeting American home buyers and sellers, who are already under stress in what is the most challenging housing market in recent history. We hope this report sparks new and continued action for all real estate and title professionals to lead their communities in the change needed to protect consumers; it is within reach.”

“The entire CertifID organization is rooted in our mission to be a trusted resource for real estate and title professionals and the customers they serve, to help keep their money out of the hands of criminals,” said Tyler Adams, Co-Founder and CEO of CertifID. “This report identifies areas of vulnerability that require greater focus and investment. We believe that consistently adopting strong security strategies, tools, and practices as a business community can make us a safer industry to serve American homeowners.”

To access the 2025 State of Wire Fraud report, click here.

About CertifID

CertifID is a leader in wire fraud protection. The company safeguards billions of dollars every month from fraud with advanced software, digital payments, direct insurance, and proven recovery services. Trusted by title companies, law firms, lenders, real estate agents, home buyers and sellers, and others, CertifID provides further peace of mind with up to $2M in direct coverage on every wire it protects. Learn more at: www.certifid.com.