Real-estate scams – Payment redirection scams

Payment redirection scams are where scammers get into the email database of official and legitimate businesses (such as a real estate agent, broker, or conveyancer) and use it to target clients.

They can intercept emails, edit bank details and send them on to you, the client so that you unwittingly send over funds to the scammer's account instead of the legitimate account.

It usually involves the victim receiving a notice for payment or an invoice, usually from a legitimate source that they were expecting, but the communication has been intercepted, and the banking details changed to the scammer’s details.

Sadly, these scams often involve very large sums of money and are nearly impossible to recover.

Tips: These scams are difficult to spot but always keep an eye out for poor language and spelling mistakes.

The best way to protect yourself from becoming a victim is to contact the agent directly and verbally confirm the payment details, do not use the number on the invoice.

This helps to ensure that the banking details are correct ahead of making the payment.

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Jason Gwerder
Tuesday, 21 May 2024

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