What to know about phishing
We live in a world where large sums of money and assets worth thousands of pounds can be transferred at the click of a button. Whilst this is very convenient, it also makes us vulnerable to attacks from people who want to steal our money. Scammers are targeting property and transactions involving property. It is our responsibility to take precautions to make sure that we don’t end up a victim of an attack.
What is phishing?
According to the UK National Cyber Security Centre, phishing is the term given to attackers sending scam emails containing links to malicious websites. The links can also be sent in texts. Often, they are used to trick users into revealing sensitive information or transferring money. Both individuals and organisations can be targeted.
Is phishing property fraud?
Phishing can be used as a type of property fraud. The scammers can trick you into sending purchase money to them instead of to your solicitor. Because buying and selling property involves large sums of money, this is attractive for scammers. They also try to sell property that does not belong to them.
You can add a Form LL restriction to your title deeds. This protects your home from being sold without your knowledge. To get this lifted you need to go through some special legal processes which are detailed here https://www.parachutelaw.co.uk/form-ll-land-registry-restriction.
How can I spot a phishing email?
Phishing emails can be very convincing, which is how scammers steal millions of pounds every year. However, there are a few signs that you can look out for.
If you are sent an offer that sounds too good to be true, it probably is. Avoid anything that offers you instant gifts or money. Also, phishing emails often force you to act fast. The scammers do not want you to have a chance to think things through. They may give you just minutes to respond.
How can you prevent phishing attacks?
It may help if you use a spam filter on your emails. Adjust your browser settings so that it will not open fraudulent websites. Change your passwords regularly and use strong passwords. When you get an email with bank details from a solicitor, always ring them to double-check. Spammers can monitor email accounts and send fraudulent emails with bogus bank details. You don’t want to lose your entire deposit for your new home!
