Scammers will hack either your email or the solicitor’s email to conduct their fraudulent activities. They start sending fake emails instructing you to divert payments from the initial accounts provided, to their accounts.
Buying a house is one of the most difficult processes you would deal with in your life. From finding a cheap or affordable solicitor to dealing with agents, you may find it stressful. Add to that the possible threat of fraud. Conveyancing scams are now listed among the most popular types of cybercrimes that can lead to extreme financial losses.
It mostly happens to first-time buyers who are not well versed in the conveyancing process. Here are some of the things you can do to protect yourself and your finances.
Do not send the entire payment at once
Even after verifying the bank accounts and payment platform with the firm, never send all the money at once. Instead, transfer small amounts first and ensure that the firm confirms receipt of the money in the right account.
Be smart with email communication
Fake email addresses are difficult to identify since their difference with the original email address is as meagre as an additional or missing number, letter or symbol. Good thing email service providers or platforms today have different security features to make sure you are not sharing or sending personal information to malicious accounts.
Get the solicitor’s name and contact number
Get the number of a staff member or the receptionist so you can contact the firm directly. In that case, work with solicitors who have strong security measures, and whose employees are willing to verify information whenever necessary. If possible, go to the firm and meet your contact person.
You should avoid becoming a victim of any fraudulent activity at all cost. Do not trust anything that pops up in your inbox. Instead, call a reliable solicitor or conveyancer and talk to them in person so you can ensure a smooth, safe and successful transaction.