PHOTO: Do one simple thing to avoid losing thousands when you buy property.
MILLIONS of dollars have been lost to scammers intercepting property transactions already this year, but there is something you can do to protect yourself.
Conveyancing technology experts GlobalX has revealed that many who operate within the industry are unaware that scammers are successfully ripping off buyers already in Australia.
CEO Peter Maloney said millions had been lost in transactions.
The common rort involves scammers hacking conveyancers’ client lists, impersonating them and emailing their clients to advise them the property trust account details had changed so clients would transfer property purchase funds into a fraudulent account.
READ MORE VIA REALESTATE.COM.AU