Friday Afternoon FraudLegal Information ServicesUpdated on Dec 22, 2017 View more like this | Visit United Kingdom, UN | Contact owenwhitecatlin |
Buying a house is for most people the biggest cash commitment of their lives. When people buy or sell they are strongly advised to use a conveyancing solicitor.
And when something goes horribly wrong, people are quick to blame the lawyer. This is the case with some dodge dubbed the Friday afternoon fraud.
This has been highlighted in the media lately and yet it has nothing to do with the solicitor. It’s just that when you are robbed of £200,000, you must blame someone.
It’s yet another piece of cyber-theft through interception of emails. And it goes something like this: During the buying process the buyer must deposit money with the solicitor. It takes just one transaction to alert the hackers.
They will follow all the email between client and solicitor and send a doctored mail when the time comes for the client to hand over the final balance for the purchase.
The email details to the client looks absolutely kosher. But the fake solicitor writes something like they need to see your money transferred into a slightly different account number and tell you this is normal.
Some solicitors near me have actually had this scenario happen to their client. The money is asked to be transferred from the client’s bank to an account that purports to belong to the solicitors, usually on a Friday.
This day is chosen as it buys the fraudsters some extra time. When the client phones the solicitor on the Monday to check the money has arrived, the solicitor will check, and this too may take a while.
The money isn’t there of course, as it’s been transferred to the fraudsters account. This scam has been going on for some time and now the advice is to never give any bank details over the internet.
Mortgage lenders and solicitors are also hapless victims but unfortunately, the buyer only has himself to blame. They are also highly unlikely to recover the loss which in a recent case cost a couple over £200,000.
The advice is to only give the information by phone or better still, a hard copy letter which should still be carefully checked before transferring money.
For the solicitors near me http://www.owenwhitecatlin.co.uk/
And when something goes horribly wrong, people are quick to blame the lawyer. This is the case with some dodge dubbed the Friday afternoon fraud.
This has been highlighted in the media lately and yet it has nothing to do with the solicitor. It’s just that when you are robbed of £200,000, you must blame someone.
It’s yet another piece of cyber-theft through interception of emails. And it goes something like this: During the buying process the buyer must deposit money with the solicitor. It takes just one transaction to alert the hackers.
They will follow all the email between client and solicitor and send a doctored mail when the time comes for the client to hand over the final balance for the purchase.
The email details to the client looks absolutely kosher. But the fake solicitor writes something like they need to see your money transferred into a slightly different account number and tell you this is normal.
Some solicitors near me have actually had this scenario happen to their client. The money is asked to be transferred from the client’s bank to an account that purports to belong to the solicitors, usually on a Friday.
This day is chosen as it buys the fraudsters some extra time. When the client phones the solicitor on the Monday to check the money has arrived, the solicitor will check, and this too may take a while.
The money isn’t there of course, as it’s been transferred to the fraudsters account. This scam has been going on for some time and now the advice is to never give any bank details over the internet.
Mortgage lenders and solicitors are also hapless victims but unfortunately, the buyer only has himself to blame. They are also highly unlikely to recover the loss which in a recent case cost a couple over £200,000.
The advice is to only give the information by phone or better still, a hard copy letter which should still be carefully checked before transferring money.
For the solicitors near me http://www.owenwhitecatlin.co.uk/
