Conveyancing fraud, sometimes referred to as ‘Friday afternoon fraud,’ has emerged as a significant threat to property buyers in the UK. The scam typically involves criminals intercepting email communications between homebuyers and their solicitors or estate agents, then directing payments to accounts under their control. Fraudsters may gain access through hacking a solicitor’s email account or by deploying phishing attacks against homebuyers themselves. The timing of these schemes near the end of property transactions, frequently before weekends, makes them particularly difficult to resolve quickly. The financial scale of conveyancing fraud underscores its severity. Report Fraud documented 3,657 scams involving misdirected bank account payments during the 2025-26 financial year, with total losses reaching £101m across all categories. Conveyancing fraud specifically accounted for 140 cases between April 2024 and March 2025, with an average loss per victim of £78,393. In documented cases, buyers have lost entire purchase prices, with one victim transferring £300,000 to a fraudulent account. Beyond residential property purchases, City of London police have noted similar fraud patterns affecting rental transactions and probate matters. Protecting oneself against conveyancing fraud requires multiple precautions. Homebuyers should verify solicitor bank details through direct phone calls or in-person meetings rather than relying on email communications. Email accounts should be secured with strong passwords and two-factor authentication where available. Social media posts about pending property moves should be avoided, as they may alert fraudsters to potential targets. Public wifi networks should not be used for checking emails or accessing financial information. When fraudsters contact targets, their spoofed emails often closely mimic legitimate solicitor communications, though careful examination may reveal small discrepancies such as missing letters or unusual punctuation in email addresses. Banks provide an additional safeguard by alerting customers when account names do not match expected details during transfer attempts. If a questionable transfer has occurred, immediate contact with the bank is essential to potentially recover funds or prevent further loss.
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