SAI Global warn of heightened settlement fraud risk

SAI Global warn of heightened settlement fraud  risk
SAI Global warn of heightened settlement fraud risk

SAI Global are reminding all of its customers to remain vigilant regarding suspicious emails and links.

It has recently been broadly publicised within the industry that fraudsters are working to gain access to law practice or conveyancing accounts with the intent to commit fraudulent activity.

SAI Global has been made aware of an apparent attempt with one of its customers.

The customers were asked to reset their password from an email posing as SAI Global.

"We are currently investigating this incident as a matter of urgency."

It recommend actions to reduce instances of fraud and loss when it comes to property settlements.
 
"It is prudent to call (not email) all clients and warn them to not transfer funds based on electronic disbursement instructions purportedly from your business without first calling you (on a separately verified number) to confirm details.
 
"It is prudent to not transfer any funds from your practice (EFT or direct banking) before you confirm directly with clients (by phone call) any instructions received electronically purporting to be from them regarding the disbursement or receipt of funds."

Recent issues have emerged in SA and WA. 

Tags: 
Property Settlement Property Fraud

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