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Conveyancing fraud
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That's a different type of fraud they're talking about (and the SRA doesn't regulate Scottish firms anyway). But there has certainly been enough talk about it (e.g. this article from 2016) and it's common practice in other firms now to warn clients against trusting email notification of bank detailss.They should know about it:
https://www.sra.org.uk/sra/news/press/2015/further-bank-scam-warnings-april-2015/
"All firms should ensure that their own internal systems for guarding against scams are up-to-date and that staff know how to implement them."0 -
edwardbrown02 said:I would suggest to connect with a local solicitor near you or a local law firm they would provide exact solution for these types of issues.Resurrecting a 6 month old thread.......1st post.Name, occupation and locality.Touting.Reported.
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Can't wait for the lockdown to finish, so many rubbish and pointless posters.edwardbrown02 said:I would suggest to connect with a local solicitor near you or a local law firm they would provide exact solution for these types of issues.
"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Is this fraud as easy now? To enter a new payee in online banking, now needs the payee name, as well as the account number and sort code. So, the fraudster has to set up an account in the solicitor's name, which means providing fraudulent ID to the bank, etc.No reliance should be placed on the above! Absolutely none, do you hear?0
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GDB2222 said:Is this fraud as easy now? To enter a new payee in online banking, now needs the payee name, as well as the account number and sort code. So, the fraudster has to set up an account in the solicitor's name, which means providing fraudulent ID to the bank, etc.
It's an old thread... but yes, you are correct. Banks have always asked for the name of the payee for a payment, but they weren't actually checking it, until now.
One of the major reasons that the government / regulator insisted that banks implement 'Confirmation of Payee' was to stop this type of fraud.1 -
I sold my property a couple of years ago and my solicitor insisted on ringing to confirm the account details. I thought it was a bit OTT, but guess they must have been aware of the risk (they were transferring money to us, so their risk I guess!).0
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