Find out how to protect yourself against conveyancing fraud when buying or selling a property.
There’s no doubt that being able to carry out conveyancing transactions online is convenient. However, for a small minority, it also spells an increased risk of conveyancing fraud.
Conveyancing fraud usually involves a person receiving an email, allegedly from their conveyancer, requesting a large transfer of funds (often their house deposit). The email looks perfectly legitimate, but it actually contains a fraudster’s account details rather than your solicitor’s.
The convincing tone of the email combined with the timing of the request, which usually arrives when the buyer or seller is already expecting to make a transfer to their conveyancer, means the crime often goes unnoticed until it’s too late.
Occasionally, hackers access a genuine email from your solicitor and change the bank details to their own before forwarding it to you, making the crime even harder to spot.
It’s important to be vigilant in order to avoid being affected. Follow these steps to stay protected:
If you suspect you may have been the victim of conveyancing fraud, you should call your conveyancer immediately. If they confiirm there is a problem, or if you can't get through, contact your bank straight away. Find out more about how to get your money back after a scam.
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