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West Virginia couple's dream home turned into a nightmare when they fell victim to a real estate scam. Raegan Bartlo and her husband had finally found their perfect home after months of searching, but just days before closing, an email arrived claiming to be from their title company with instructions on how to wire the $255,000 down payment. Believing it was legitimate, Bartlo wired the money, only to discover later that the email was a scam and her life savings were gone.

    This is known as real estate wiring fraud, where scammers gain access to emails of title companies, mortgage firms, or realtors and send fake instructions for large payments. Those funds are then transferred to the scammer's account. Bartlo's experience is all too common, according to Tom Cronkright, founder of CertifiED, a company that helps prevent wire fraud. He started his business after losing $180,000 to a similar scam in 2015.

    Cronkright warns that these scams are often carried out by sophisticated global crime syndicates and cartels who have invested heavily in their tactics. They hack into banks, real estate companies, and law firms to gather information they can use to impersonate trusted entities. With this information, they send convincing emails that consumers may not question.

    Bartlo's experience highlights the importance of being cautious when sending large payments. "I just remember shaking a lot and not being able to think straight," she said. "To feel like everything you had saved for was just taken."