Conveyancing fraud, often referred to as “Friday afternoon fraud,” is a rising concern for UK homebuyers. This scam typically occurs when criminals intercept email communications between buyers and their solicitors or estate agents, leading to significant financial losses. Victims have reported losing tens of thousands, with one case involving a staggering £300,000 transfer to a fraudulent account.
The timing of these scams is particularly alarming, as they often happen just before the weekend when transactions are finalized. Fraudsters exploit the urgency of home purchases, making it easier to deceive buyers into transferring funds to accounts they control. In the 2025-26 financial year, over 3,600 scams were reported, costing victims a total of £101 million.
To protect themselves, homebuyers are advised to verify bank details directly with their solicitors via phone or in person, rather than relying solely on email. Additionally, being cautious about sharing moving plans on social media can help reduce the risk of being targeted by fraudsters.
As the number of these scams continues to rise, it’s crucial for buyers to remain vigilant and take proactive steps to secure their transactions. Implementing strong passwords and two-factor authentication can also help safeguard personal information from potential hackers.
Source: The Guardian
