Home buyers and sellers are being warned by local police forces and Action Fraud that they face rising levels of conveyancing fraud.

Referred to officially as ‘payment diversion fraud’ it involves scammers hacking into email systems, fraudulently pretending to be conveyancers or estate agents involved in a sale and then contacting buyers to request monies are paid to a ‘new bank account’ before disappearing with the transferred funds.

Action Fraud, along with the Metropolitan and City Police forces in London, has written via email to members of the public signed up to local crime prevention schemes urging them to ‘be vigilant’ following a rise in payment diversion fraud nationally.

The email reveals that 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,” the email seen by The Neg reveals.

These scams are often timed to coincide with the final stages of a transaction, when large sums are expected to be moved quickly. Fraudsters apply pressure, claiming urgency, and convincing victims that delays could jeopardise the deal.

Rental agreements

This type of fraud isn’t limited to home purchases – it has also been reported in rental agreements and probate transactions, where funds are transferred as part of estate settlements, says Action Fraud.

Detective Superintendent Oliver Little, from the Lead Force Operations Room at the City of London Police, says: “Conveyancing fraud is a deeply invasive crime that strikes at a moment when people are making one of the biggest financial decisions of their lives. Criminals exploit trust and urgency to divert life-changing sums of money into their own accounts, leaving victims devastated – both financially and emotionally.

“We’re urging anyone involved in property transactions to stay alert, verify payment requests directly, and treat any last-minute changes to bank details as a red flag. Any genuine solicitor or firm will never pressure you in to sending money quickly.”

City of London Police has published a video featuring one woman’s devastating experience (main image) after being targetted by fraudsters.