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Cybercrime and Conveyancing Fraud
Conveyancing clients are increasingly being targeted with sophisticated scams because fraudsters know millions of pounds change hands in relation to property transactions.
As a Firm we take cyber security very seriously. Our internal email systems are secure but once emails leave our systems they are no longer secure and you should treat email correspondence with caution. Our Firm would never ask you to transfer funds for a property purchase to bank details advised in an ensecure email.
If you would like to Download our Printable PDF version of this webpage and all the information included in it please click on the link below:
Cybercrime and Conveyancing Fraud - printable infographic.
Common types of Fraud
Bogus law firm: fraudsters set up fake firms or fake branch offices of genuine firms, and have emails or website that clone the genuine firm;
Email scams: law firms are subject to 'Spear Phishing' quite often. This is when a client is specifically targeted by a threat actor pretending to be from a trustworthy source in order to steal that particular persons personal data or worse, their finances (i.e. purchase funds);
Phone scams known as vishing (voice phishing): here scammers will use 'Social Engineering' techniques to obtain your information over the phone or use bogus text messages containing links.
Warning signs:
- Sudden urgency in tone, for no apparent reason;
- Supposed last minute change to bank details;
- Last minute request for additional payments;
- Requests to send payments directly to other parties and not your conveyancer;
- Different phone numbers given in emails;
- The account name given does not match the firm's account name.
Cyber safety tips:
- Install anti-virus software on all devices and ensure your firewall is enabled;
- Do not share passwords and change them frequently;
- Do not open suspicious emails or links;
- Never give out banking passwords - your bank will never ask for these;
- Be wary with what you share on social media;
- Always verify payments over the phone on a known number for the firm.
If you are a victim of fraud, reacting extremely quickly and informing the authorities and your solicitors represents the best chance of stopping the monies disappearing off-shore, but of course, prevention is better than cure. This page aims to set out some of the precautions we take and what you can do to better protect yourself.
Let us know if you have any concerns.