Warning to make a quick phone call or risk £78,000 leaving your bank account

People have been urged to be vigilant or risk losing over £78,000 to scammers. City of London Police and Action Fraud have warned about rising cases of payment diversion scams, also known as conveyancing fraud. This is when criminals impersonate a solicitor or estate agent to dupe a person into sending them a large sum of money.

There were 143 cases reported to Action Fraud between April 2024 and March 2025, with the average victim losing £78,393 to the scammers. The cruel scam works by criminals gaining access to email chains, such as between property buyers and estate agents or solicitors.

They will send a convincing message requesting funds, often using the terminology and branding of the legitimate organisation. Worryingly, victims often lose large amounts, as the scammers will often send their messages during the final stages of a transaction, when big sums are being transferred.

In an email sent out warning people about the scam, Action Fraud said: "This type of fraud isn't limited to home purchases - it has also been reported in rental agreements and probate transactions, where funds are transferred as part of estate settlements. Fraudsters will often use hacked or spoofed email accounts so that their messages can appear highly authentic.

"Victims may not realise they've been deceived until the money is gone." The group shared some tips to avoid being taken in by the scam.

One piece of advice if you get a suspicious message, such as a request to change some payment details, is to stop and check what the situation is for yourself. The guidance is to contact your solicitor directly, either with a phone call or in person, to check the request is genuine.

Another good practice is to check over your email security. You may want to change your email password to include three random words to make it diffcult to guess. You can also set up two-step verification to add another layer of security.

It's also important to make sure you have the correct bank details. You can get your solicitor's details at the start of the conveyancing process and request that any changes to these details are communicated with you in person, by phone call or in writing by letter.