We are seeing a rise in fraud targeting conveyancing transactions, specifically involving interception of redemption statements and payment instructions.
What’s happening?
Fraudsters are infiltrating email chains or impersonating lenders/solicitors to alter redemption figures or bank details at the point of completion.
These communications often appear entirely legitimate—using:
- Real transaction details
- Genuine branding or cloned email threads
- Plausible last-minute updates
The result: funds intended to redeem a mortgage are diverted to fraudulent accounts.
Key warning signs:
⚠️ Last-minute changes to redemption statements or bank details
⚠️ Emails requesting urgent action just before completion
⚠️ Subtle changes in sender email addresses or reply chains
⚠️ Requests that bypass or disrupt standard verification processes
How to protect your transactions:
✅ Independently verify all bank details and redemption figures using trusted contact information
✅ Treat last-minute changes as high risk, even if they appear credible
✅ Maintain strict adherence to payment and call-back verification processes
✅ Ensure fee earners and support teams understand the risk at point of completion
✅ Escalate and report suspicious communications immediately
Why this matters
- Conveyancing transactions are prime targets due to high values and time pressure. Fraudsters depend on trust, urgency, and process gaps—not technical sophistication.
- A single missed check can result in significant financial loss and potential client impact.
Stop. Verify. Then proceed.
Taking a moment to confirm instructions could prevent a serious incident.
Please share this with colleagues and teams involved in conveyancing and completions to reinforce vigilance at this critical stage.