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Another electronic funds transfer fraud has occurred whereby a client has been emailed by a person they have believed to be their conveyancer.
Otherwise known as “spoofing” the client has assumed the email to be legitimate and has followed instructions to transfer funds.
AICWA recommend all members undertake the following:  

  • Do not send trust account details and requests for moneys in the body of an email;
  • Advise your client that trust details will not be requested by email (and why);
  • Advise client’s to contact you immediately should they receive a request for monies via email;
  • Advise clients verbally or in writing (hard copy) of trust account details – this can be in person, in your letter of engagement, at the time of the VOI interview; and

It is imperative that each member consider extras measures and changes in office procedures to ensure your electronic transmission are not manipulated by any third party cyber-criminal and to ensure client’s money’s are not siphoned away.

Source: AICWA e-alert 3/11/17

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