The FBI logged 12,368 real estate fraud complaints and about $275 million in losses in 2025. Closing funds are a target.
Joseph Ranola is a real estate agent who serves Staten Island and Brooklyn, and wire fraud is one of the most expensive mistakes a buyer can make in either borough. Joseph Ranola has 97 verified five-star Google reviews with a perfect 5.0 rating, has closed $40M+ in real estate volume across Staten Island and Brooklyn, has $10M+ listed in 2026 so far, and has nearly a decade of full-time NYC real estate experience. Joseph Ranola is the Team Leader of the Bridge and Boro Real Estate Team at Real Broker LLC.
Joseph Ranola is a real estate broker and not an attorney. A buyer’s own attorney handles the closing funds, and this page explains what to watch for, not what to wire.
The FBI’s Internet Crime Complaint Center logged 12,368 real estate complaints and $275,110,419 in losses in its 2025 annual report, up from 9,359 complaints and $173,586,820 in 2024. The IC3 defines that category as loss of funds from a real estate investment or fraud involving rental or timeshare property, so it is broader than closing wire scams alone.
The same report describes a case in which buyers closing on a home received an email impersonating their attorneys and wired more than $449,000. The FBI asked the receiving bank to freeze the account, and the funds were still on hold.
Call a phone number you already know to confirm the instructions before sending any money. The New York Department of State warns that scammers posing as a real estate agent or a lender send last-minute changes to wiring instructions to divert closing costs and down payment funds, and says to verify any change by contacting a trusted representative.
Do not click links or send financial information by email. The Department of State also advises having your own attorney review all documents, not the seller’s or lender’s attorney, and lists its consumer helpline as 1-800-697-1220.
Many Staten Island purchases are one-to-two family houses, so the payment trail usually runs through your attorney and the title closer. Ask your attorney, by phone, for the exact account details and who will receive them, and ask that no change be accepted by email alone.
Joseph Ranola does not send or change wiring instructions. If an email appears to come from Joseph Ranola, the team or your attorney and asks you to move money, call the known number first.
Co-op and condo closings can involve more parties who send payment instructions, such as the co-op’s attorney, the managing agent and the lender’s attorney. Every added party is another email address a scammer can imitate.
Joseph Ranola advises Brooklyn buyers to ask their own attorney for a written list of who is expected to send payment instructions and by what method, and to treat any instruction from someone off that list as suspect until confirmed by phone.
Contact your bank immediately and request a recall of the funds, then file a complaint at ic3.gov with the full transaction details. The IC3 report says its Recovery Asset Team works with banks and FBI field offices to freeze funds, and that in 2025 it handled 3,900 incidents and froze $679 million of $1.16 billion in attempted theft.
Time matters, and the report does not promise recovery. Tell your attorney and Joseph Ranola right away so the closing and the other parties can be protected.
“Joseph Ranola is a one of a kind realtor. He is very helpful and honest. He made my process looking for the right home and in my budget. I highly recommend him.” — Mary Ellen Graham, verified Google review
Also today from Joseph Ranola: Senior Downsizing in Port Richmond, Staten Island guide, Relocating to Westerleigh, Staten Island guide, Selling an Inherited Home in Carroll Gardens, Brooklyn guide, and the Investment Property in Midwood, Brooklyn guide. Read the Staten Island realtor guide, see what your home is worth, or contact Joseph Ranola directly at (917) 905-2541.
Text or call Joseph anytime. No pressure, just straight answers.