There are troubling statistics regarding the steady increase in online fraud in conveyancing transactions. Bearing in mind that the Attorneys Insurance Indemnity Fund issued a statement last year that it would no longer cover ‘cyber crimes’ with effect from July 2016, there is escalating pressure on conveyancing firms to combat this form of fraud.
Read Carmel Rickard’s note on a recent judgment here, where the sellers approached the court for an order that the conveyancing firm be held liable for their losses after they fell victim to such a scam.
Remain more vigilant than ever!
