Buying a property is likely to involve transferring some of the largest sums of money you've ever sent.
It's completely understandable to feel nervous.
Unfortunately, property transactions are a target for fraudsters who attempt to trick buyers into sending money to fraudulent bank accounts by sending convincing emails or pretending to be a law firm.
At MA Lawyers, protecting your money is one of our highest priorities. We have procedures in place to help keep your funds secure, and we'll guide you through every stage of the payment process.
The Short Answer
Your money is safest when you follow the payment instructions provided by MA Lawyers and verify any request for funds if you are ever unsure.
We'll tell you:
- when money is required;
- exactly how much to send;
- where it should be sent;
- and the safest way to make your payment.
Most importantly...
We will never email you to tell you that our bank details have changed.
The Explanation
Conveyancing fraud has become increasingly sophisticated.
Fraudsters sometimes monitor property transactions and send emails that appear to come from your solicitor. These emails often ask you to transfer your deposit or completion monies to a different bank account.
These emails can look genuine.
That's why we ask every client to remain vigilant throughout their transaction.
As part of your Client Care Pack, you'll receive our Important Notice – Fraud Alert: Protecting Your Funds, which explains the warning signs, how our payment process works and what you should do if you ever receive a suspicious email.
How MA Lawyers Helps Protect You
| What We Do | Why It Matters | ||
| We provide our bank details securely at the beginning of your transaction. | You know exactly where your money should be sent. | ||
| We will never notify you of a change to our bank details by email. | This helps protect you from payment fraud. | ||
| We only request funds at the appropriate stage of your transaction. | You'll know when a payment request is genuine. | ||
| We'll provide clear written instructions before asking you to transfer money. | You'll understand exactly what you're paying and why. | ||
| If you're unsure, we're only a telephone call away. | We'd always rather you call us than risk sending money to the wrong account. | ||
These are all procedures we follow as part of our normal conveyancing process.
Common Questions
What if I receive an email saying your bank details have changed?
Treat it as suspicious.
Do not transfer any money.
Telephone us immediately using the contact details you already have so we can confirm the correct information.
How will I know when to send money?
We'll only ask you to transfer money when the time is right.
Before requesting funds, we'll explain what the payment is for and provide clear written instructions.
Should I check your bank details before making a payment?
Yes.
Even if you've received our payment instructions previously, if anything doesn't look right or you're uncertain for any reason, telephone us before sending any money.
We would much rather answer a quick phone call than have you worry.
Can fraudsters make emails look genuine?
Unfortunately, yes.
Some fraudulent emails closely resemble genuine correspondence and can arrive at key stages of your transaction.
That's why it's always safer to verify anything unexpected by telephone.
Top Tip
If in doubt, don't transfer the money. Pick up the phone instead.
A two-minute telephone call could prevent a significant financial loss.
Did You Know?
Every MA Lawyers client receives our Fraud Alert – Protecting Your Funds notice as part of their Client Care documentation. It explains the risks of payment fraud, highlights the warning signs to look out for and asks clients to read and acknowledge the guidance before proceeding.
Common Misconception
"If an email looks genuine, it must be genuine."
Not always.
Fraudsters are becoming increasingly sophisticated, and some fraudulent emails are designed to closely resemble genuine correspondence.
That's why it's important never to rely solely on an email when transferring large sums of money.
The MA Lawyers Approach
Protecting our clients' money is just as important as protecting their legal interests.
We have clear procedures for requesting funds, we never change our bank details by email, and we encourage every client to contact us if they have any concerns before making a payment.
Your security is never an inconvenience to us—it's an essential part of the service we provide.
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