The latest conveyancing scam reported in the Telegraph this weekend has seen a victim feeling “utterly alone” following the theft of almost £600,000. The victim, whose mortgage had yet to come through, said he felt under immense pressure to make the transfer. He borrowed from his company and made a bank transfer of £593,055.20 to an Ulster Bank account, the Irish arm of Royal Bank of Scotland, on Jan 18, as per the fake solicitor’s instructions. The fraud only came to light on Feb 9 when the victim found out the real solicitor had no knowledge of the transfer. The crime was reported immediately to NatWest, Ulster Bank and Action Fraud. The reader also tried to report the scam to various London police stations but was referred back to Action Fraud or told to call 101. “No one seemed to have any record of my name, reference number and the case. And I’ve no idea what to do,” he said. The article in the Telegraph quotes NatWest as saying that it was “aware” of the case and was cu...
This blog is for CQS accredited firms in England and Wales. Including topics like the Conveyancing process, Conveyancing Policy Templates and Conveyancing case law. As it contains everything about conveyancing and conveyancers it should be of particular interest to property lawyers and property solicitors, as well as COLP and Compliance Managers.