News

Don’t fall foul of payment diversion fraud

08 December 2021

Payment diversion fraud is one of the most common cybercrimes reported to us. If successful, thieves can make off with the entire proceeds from someone’s house sale. The consequences can therefore be huge for your clients.

The fraud most commonly involves criminals impersonating a legal services provider during a conveyancing transaction and convinces the client to transfer the deposit monies to them (or in some cases, the whole purchase amount).

The National Crime Agency, Action Fraud, the National Economic Crime Centre and the Law Society have produced guidance and other materials to help your clients and potential clients to protect themselves.

There is a flyer that you could send to your clients at the start of a conveyancing transaction, perhaps along with the client care information. The leaflet is available in English and in Welsh.

The Action Fraud website has further guidance which you might find useful.