New Scam Alert: Protect yourself from payment diversion fraud when buying a new property.

City of London Police and Action Fraud, the national reporting centre for fraud and cyber crime, are urging the public to remain vigilant following a rise in payment diversion fraud - commonly known as conveyancing fraud. This type of fraud often involves criminals impersonating solicitors or estate agents to intercept large financial transfers during property transactions.

Between 1 April 2024 and 31 March 2025, 143 cases of conveyancing fraud were reported to Action Fraud, resulting in £11.7 million in losses. The vast majority involved residential property transactions, accounting for 140 reports and £10.97 million in losses, with an average loss of £78,393 per case.

See below for more details.