Warning Over House Sale Fraud

Warning Over House Sale Fraud

Conveyancers are being urged to be on their guard for cyber criminals attempting to snatch proceeds of house sales from the rightful recipients.

The National Fraud Intelligence Bureau has received a number of reports of those involved in buying or selling houses being targeted by fraudsters in other areas of the UK

Although no incidents of this kind have been reported to locally, police have issused a warning in the hope of preventing anyone in this area falling foul of the scam.

He said:

“It is believed that the offenders initially hack into communications sent between the conveyancer and their client, before posing as one of the parties in the sale and sending an email confirming a change in the bank details to be used for the deposit or transaction.”

Among the steps you can take are:

Review internal procedures regarding how clients are permitted to amend bank details held for them and do not feel pressured into changing them without adhering to these procedures.

If you receive an email regarding a change in bank details, don’t be afraid to question its authenticity. Check the email address carefully and, if in doubt, request clarification from an alternative means of contact.

When you begin the conveyancing process, agree the terms for making changes to bank details. Ask for it to be done in person wherever possible.

If you believe you have been targeted, visit www.actionfraud.police.uk or call 0300 123 2040.

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