Conveyancing cybercrime – Are you as safe as houses?
Cybercrime among conveyancing transactions is on the rise, with fraudsters using ever-more sophisticated ways to trick unsuspecting house buyers and even professional conveyancers out of hundreds of thousands of pounds. Conveyancing is seen as a lucrative target by criminals, as intercepting just one transaction can reap high rewards. The main activities used against conveyancers and their clients are; voice phishing, or vishing; and fraudsters posing as conveyancers in fake law firms and providing fake details.
Vishing involves the fraudster ringing a firm to ask for clients account passwords, they will have already been using spyware to monitor your client account transaction and will use this to gain your trust over the phone. The caller will claim to be from your bank and alert you to some sort of emergency or problem with your client account, perhaps a freezing or a problem with a payment, and that action must be taken quickly. Banks will never contact their account holders and ask for passwords or PIN numbers over the phone. If you are suspicious, call your bank on the contact number you normally use but be sure to do this on a different line to the one you were contacted on. The scammers can use sophisticated technology to hijack the line so that when you call out again it will be them picking up on the other side.
Reports of fake law firms posing as genuine solicitors contacting conveyancers have become more and more common. Emails from the fraudsters will look professional and accurate with correct signatures and believable contact details. Account details for money transfers will be provided by them, or account details may be changed at the last minute, claiming the firm you have been dealing with has had to change accounts. Any quick last minute changes should always be queried through reliable and established means. It’s important to undertake all due diligence when dealing with client accounts. Lawyer Checker is an effective tool used to gather information on the conveyancer you will be sending money to, using the details supplied to you by them. The report checks against more than 10 databases giving you and your clients peace of mind that their money is going to the appropriate place.
LegalinX-7Side offer the Lawyer Checker service alongside all necessary due diligence searches required for conveyancing. You can find more information on our conveyancing services by contacting [email protected]
This article was submitted to be published by Legalinx-7Side as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.