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Mon 16 Oct 2017

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We, as a firm are at risk, as well as you, as a client of the firm. Fraudsters may adopt fictitious ID and enter into proposed transactions only to withdraw prior to exchange. The information obtained through that process can be used to commit title fraud.


Sellers are also at risk as a property owner could be impersonated by a fraudster who attempts to sell their property using fake or stolen ID.


It has also been known for conveyancing firms to be impersonated using fake letterheads copied from real firms.


According to the Law Society, certain types of properties and owners are particularly open to fraud:

 

  • Fraud perpetrated by family, friends and partners;
  • Opportunist, 3rd party fraudsters;

 

 

What does this mean?

 

When you instruct JPC Law we will ask you to present either your original ID to us or have your ID certified by a solicitor. We ask that the solicitor certifying the ID sends the same to us directly. We understand that this may be tiresome but all of us are at risk at the present time by criminals who are seeking to make fast money from their fraudulent exploits.


We do not deal with the issue on a tick box basis. It is part of our role to look at the transaction as a whole and take a view on whether there are “red flags” that would suggest we ask further questions and make the relevant enquiries with the parties.


 

Claire Prince is a Partner at JPC Law.

For more information and advice on this or any other conveyancing matter, please contact her:

E: cprince@jpclaw.co.uk

T: +44 (0) 20 7644 6092 

General Enquiries:

E: enquiries@jpclaw.co.uk

T: +44 (0) 20 7625 4424

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