Combating Fraud - The Latest Guidance for Conveyancers

Introduction

Fraud is on the rise, some may say it represents a ‘Growth Industry’. Use of the internet and ‘electronic’ transactions renders opportunities for theft - to put it bluntly - is almost limitless.

Conveyancers are in the firing line with stringent duties owed to clients and lenders on the one hand and the committed fraudster on the other. Thinking it ‘couldn’t happen to me’ is misplaced because we all have to be aware of the possibilities for fraud and do our best to minimise, if not entirely erase, fraudulent transactions when they come across your desk.

According to the ONS (Office for National Statistics), fraud cases have increased by 25% in the past two years, which translates to 4.5 million offences. Additionally, the HM Land Registry claims that over the past five years, they have prevented property fraud of more than £100m.

What You Will Learn

This webinar will cover the following:

• A look at ‘Property and Title Fraud’ - the Joint Law Society and HM Land Registry advice note and ‘Property and Registration Fraud’. Land Registry Property Alert Service
• The Council of Licensed Conveyancer’s ‘Acting for Lenders and Prevention and Detection of Mortgage Fraud Code’
• Fraud and rectification of the Register
• Advice for clients about email fraud when buying a home and a typical case study
• Unexplained Wealth Orders - a weapon against the fraudster’s ill-gotten gains
• Can a fraudster sue their solicitor in negligence?
• Paying over the purchase price to a fraudster - how wide is your liability?
• Not only imposter lawyers but also imposter clients
• Cyber fraud and precautions and practical tips to protect your firm from fraud
• SRA advice on risk prevention and guidance from UK Finance Mortgage Lending and common scams you should know about
• Where carelessness falls short of fraud
• ‘Gifted Deposits’ - are they real?
• Who can you trust - your partners, your cashier, your secretary?
• Professional Indemnity Insurance - condoning fraudulent partner’s actions?
• Land Banking Schemes and SDLT Saving schemes - what you should know

This webinar was recorded on 23rd April 2024

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