Beware of Fraud: in legal transactions and large payments to solicitors
Beware of Fraudsters and Fraudulent Emails
You probably know that fraudsters are out there looking for opportunities to steal funds in an illegal way and they often target solicitor practices because we handle large sums of money. At Lawson-West we take fraud prevention and anti-money laundering very seriously.
From a solicitor’s perspective, clients who transfer large sums are at risk from being targeted by fraudsters and these include, but not limited to, commercial transactions, transactions involving conveyancing deposits and full property purchase, as well as dispute resolution, wills and trusts.
You can rest assured at Lawson-West that all our staff receive regular Anti-Money Laundering training as part of our commitment to identify fraud, fake emails and fraudsters and we are very good at spotting irregularities when we see them. Even though our systems and staff are security-orientated, we all need to be vigilant in spotting fraud as it often occurs at the client-side of a transaction and often involves fraudulent emails asking for money to be transferred.
Did you know? Lawson-West is not liable for any losses sustained by you as a result of responding to fraudulent emails or paying money into an incorrect account.
We encourage clients to take simple steps to help protect your money:
4 Important Steps to reduce the risk of fraud:
1. Don’t rely on emails telling you to transfer funds:
always check with our team by phone beforehand on a number you know is Lawson-West. The email might not have come from us, and fraudsters sometimes pretend to be our lawyers. Checking by phone gives you confidence to know that the email is genuine. Check the name of the bank. We will not change our bank account details mid-transaction. Many clients like to pay us £1 first to verify an account before very large sums are transferred and this is fine by us.
2. Don’t make payments online from a vulnerable location:
don’t make payments from your mobile phone or tablet when sitting in a non-secure environment like a café or public space for example. Make transfers from the safety of your own home where you trust the equipment and security.
3. Avoid sharing on social media:
don’t post on social media about buying/selling your house. Fraudsters may get hold of this information and know the next step is a large financial transaction.
4. Don’t forget about credit card fraud:
we accept payments by credit card online through our website and over the phone and this is secure, but don’t read out your credit card number (or bank account details) to us if you are not on your own or you’re in a public space.
Thankfully fraud is rare, but it is on the rise, so it’s good practice before you make a deposit or payment to check the details thoroughly beforehand. Remember, if the fraudsters have targeted you personally, then we cannot claim on our insurance policy for any loss.
Be safe and secure.
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