×

12th June 2018

Property: Beware of Fraud & Scams

Fraudsters are increasingly trying to trick home buyers/sellers into transferring their money into scam accounts. They hack into emails and create fake emails to try and persuade people to send money to accounts in the fraudster’s name.

 

To avoid being deceived by ‘redirection’ scams, be alert to the following:

 
  • Email addresses on correspondence may be similar to that of a genuine company but are in fact bogus
 
  • Fraudsters are likely to use the same logo and style as a genuine company and which looks authentic

What can I do to protect myself?

 

Follow these steps to help you reduce your risk:

 
  • Agree a process for payment early on – e.g. all parties should agree that bank account details will only be changed if instructions are provided face-to-face, or by phone between known contacts.
 
  • Never confirm the authenticity of a request to change account details over email or using contact details provided in the email. The details could be fake too. Instead use known contact details and speak to existing contacts, to verify that the request is genuine.
 
  • Experts say that fake emails are often impossible to distinguish from the real thing – a phone call or face-to-face is the only way to be sure.
 
  • Emails seem to be the preferred method of fraudsters, but be wary of phone calls. Remember fraudsters are likely to have read correspondence/communications, so they may cite details about the transaction.
 
  • Keep your anti-virus software up-to-date and regularly install any system updates.

 

Lamb Brooks has a dedicated property Law Team office off the one-way-system on New Road. This office is ideal for clients to drop in paperwork, show ID or speak to your solicitor. Seeing the people directly working on your sale or purchase rather than using an online conveyancer will give you peace of mind that your matter is being dealt with correctly.

 

If you have concerns over property fraud or would like to speak on someone about any other property related issues then please contact Sheena Aston, Partner and Head of Property Law Team on 01256 305536 or email sheena.aston@lambbrooks.com

   

 The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice.  The law may have changed since this article was published.   Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances.

 

How can we help you?

If you are need of professional, reliable legal advice, contact us today.

CONTACT US