Home Home Page Articles Scammers posing as conveyancers steal $900,000 from SA property buyers

Scammers posing as conveyancers steal $900,000 from SA property buyers


Scammers posing as conveyancers have scammed two South Australian property buyers out of approximately $900,000.

The Australian Institute of Conveyancers SA CEO, Rebecca Hayes, told ABC News the scammers sent fake emails to property buyers last week with instructions to send large sums of money for their property settlements.

Two clients were tricked out of approximately $900,000.

On top of that, the settlement contracts will become void if the victims cannot pay within the settlement period.

Although details are still emerging, the scammers are apparently intercepting emails and changing back account details.

- Advertisement - Not Real Estate News Group Content

“The client then pays money into what they believe is the conveyancer’s trust account but unfortunately it’s an account owned and operated by the cyber criminal and the money goes there and unfortunately disappears,” Hayes said.

Hayes warned conveyancers, real estate agents and consumers to look out for the scam, saying that phone calls should be made to verify any payment details in emails.

The scam has affected three SA conveyancers and two clients so far.

“We’re very much on top of it working with our insurers as well to make sure that all the advice that we can give our members is given, but importantly that consumers are also aware that if they receive these emails they might not come from a conveyancer,” Hayes said.

Source: ABC News