New Scam Alert: Protect yourself from payment diversion fraud when buying a new property.

City of London Police and Action Fraud, the national reporting centre for fraud and cyber crime, are urging the public to remain vigilant following a rise in payment diversion fraud - commonly known as conveyancing fraud. This type of fraud often involves criminals impersonating solicitors or estate agents to intercept large financial transfers during property transactions.

How to protect yourself from conveyancing fraud:

• Receiving bank details securely: always get your solicitor’s bank details in-person or over the phone at the start of the conveyancing process, and request that any changes to these details be communicated with you in-person, by phone call, or by letter.
• Email or texts asking you to change bank details: if you receive a message that feels suspicious, such as a request from your solicitor asking you to amend payment information, STOP! Think fraud. Contact your solicitor directly, over the phone or in-person, and verify that the request was genuine.
• Prioritise your email security: you should use three random words to create a strong and separate password for your email account. Enable two-step verification to add an extra level of security.

Report: if you become the victim of conveyancing fraud, call your bank immediately using the number on the back of your bank card and report it to Action Fraud online at http://actionfraud.police.uk or by calling 0300 123 2040