Wells Fargo

$3 billion in scams: Home-buyers in Maryland, U.S. are more vulnerable than ever due to fraudulent emails

$3 billion in scams: Home-buyers in Maryland, U.S. are more vulnerable than ever due to fraudulent emails

When Baltimore County resident Bill Wiesand set out to help his daughter buy a home, he never imagined he’d risk losing thousands of dollars as the subject of a targeted cyber scam.

A few weeks before the settlement, Wiesand, 65, received an email from the agent selling the home that said the title company required an immediate $10,000 deposit “to ensure a smooth and early closing.” She included wiring instructions and a routing number for the title company’s bank account.

But it wasn’t actually the agent who emailed him; an impersonator had hacked into her account. And the routing number belonged not to the...

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