HM Land Registry (HMLR) has successfully prevented 279 fraudulent applications being registered since 2009.
This number represents a saving in property value of more than £133.4 million.
At HMLR, we collaborate with our professional customers, like conveyancers, to continue this positive trend.
Thankfully, property fraud is extremely rare, but for the unlucky few, the repercussions are devastating, time consuming and extremely costly.
Cyber criminals are savvy and adaptable, so no system can be completely fraud proof, but we can all deter and disrupt fraudsters’ activity by remaining vigilant and sharing information.
In 2016, our property fraud team received a call from a solicitor’s firm that became concerned about requests from solicitors who had been instructed to act on behalf of a seller for a property valued at £1.9 million.
The estate agents and solicitors became suspicious that the sale was fraudulent when the sellers delayed sending identity documents and changed the names on their passports.
The solicitors contacted the buyer’s conveyancers and informed us. We reviewed the information and stopped the transaction before it could develop further.
We cannot allow fraudsters to succeed and will continue to collaborate with customers, stakeholders and the authorities to eradicate this criminal activity in the future.
If you or anybody in your firm is suspicious about any property transactions you have been instructed to carry out, please inform HMLR by calling: 0300 006 7030 Monday to Friday, 8:30am to 5pm.
Alternatively, email us at reportafraud@landregistry.gov.uk
Help your clients gain a greater understanding of property fraud and avoid becoming a potential victim:
- Read our property fraud advice
- Sign up to our free Property Alert Service
- obtain free leaflets about avoiding property fraud by emailing your request to: pfleaflets@landregistry.gov.uk
This article was published by HM Land Registry 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.
