Homebuyers have been warned to take steps to keep away from being scammed throughout their buy and after they transfer, with criminals concentrating on massive sums of cash, together with home deposits.
The looming finish of the stamp responsibility vacation has fuelled a growth within the property market as folks try and safe a brand new residence with out having to pay tax.
However UK Finance, the organisation representing monetary companies, mentioned consumers have been at risk of being manipulated by fraudsters into paying cash into the mistaken account.
The Guardian has lined a number of instances of emails from solicitors being intercepted and changed by new messages containing cost particulars for fraudsters’ accounts, together with one the place a homebuyer was tricked into sending greater than £300,000 to criminals.
Within the first half of 2020, UK Finance mentioned £16.2m had been misplaced from private accounts by means of frauds involving clients being despatched pretend emails with new cost particulars. Different scams movers are in danger from embrace id theft, by which letters despatched to outdated addresses are utilized by criminals to use for credit score or advantages of their identify.
Katy Worobec, the managing director of financial crime at UK Finance, advised PA Media: “Shifting home generally is a demanding time; nonetheless, it’s important to recollect to take steps which might hold you secure from scams.
“This contains letting your financial institution and different organisations know that you just’ve modified handle, ensuring your mail is safe, and guaranteeing the recipient’s financial institution particulars are appropriate when paying massive quantities of cash through the housebuying course of, corresponding to your deposit.”
UK Finance mentioned consumers ought to be alert to emails purporting to comprise new cost particulars from companies they’re already coping with, or duplicate invoices for providers.
It mentioned there had additionally been situations of criminals pretending to be from an property agent and asking for private particulars, claiming the mover is due a “refund”.
It suggested clients to test cost particulars with brokers or solicitors by telephone earlier than transferring cash.
To keep away from id theft, it mentioned house owners ought to guarantee that they had notified banks, constructing societies and different organisations of a change of handle, and arrange a redirection service to catch some other put up.