The National Crime Agency (NCA) and The Law Society have launched a joint campaign to tackle a growing threat to property buyers: payment diversion fraud, a crime costing victims millions each year.
The campaign, delivered in partnership with the Home Office’s Stop! Think Fraud initiative, is aimed at solicitors and conveyancers, who are often targeted by fraudsters at critical points in property transactions.
Payment diversion fraud occurs when criminals intercept and redirect legitimate property purchase funds by impersonating solicitors, estate agents or buyers.
Victims are manipulated into transferring deposits and completion monies to fraudulent accounts rather than the intended recipient.
FRAUD VICTIMS
Figures from Action Fraud show that between April 2024 and March 2025 there were 143 reports of this type of fraud, with average losses of £82,000. Almost a third of victims were aged 40 to 49, while more than a quarter were in their thirties – making them younger on average than victims of many other forms of fraud.
The campaign provides practical advice to firms, urging them to:
- Check by calling before transferring money, as emails can be intercepted.
- Test the account with a small payment first.
- Never transfer large sums until confident the account details are genuine.
HUGE IMPACT
Nick Sharp, Deputy Director Fraud at the National Economic Crime Centre in the NCA, says: “Payment diversion fraud is one of the highest harm types of fraud experienced by victims, and when it manifests during a property purchase transaction, it has a huge impact on those who fall victim.
“Average losses when this happens during a property sale are more than £80,000 – that is a life-changing sum to lose for most people – but it also does enormous harm to the trust and faith that people place in the legal and financial systems that they rely on.
“That is why the NCA is actively targeting and disrupting the criminal networks behind payment diversion fraud through investigations and intelligence sharing with international partners. However, prevention remains equally as important as disruption.
“This campaign with The Law Society represents a vital part of our strategy – by raising awareness and strengthening defences within the law sector, we can significantly reduce opportunities for criminals to succeed. Solicitors and conveyancers are the first line of defence in protecting both themselves and their clients from becoming victims.”
GROWING THREAT
Richard Atkinson, president of The Law Society of England and Wales, adds: “We are delighted to be partnering with the NCA on this incredibly important campaign.
“Payment diversion fraud represents a serious and growing threat to both our members and their clients.
“Criminals are undertaking increasingly sophisticated methods to commit fraud, often targeting the crucial moments in property transactions when large sums are being transferred.
“This joint campaign with the NCA will equip solicitors and conveyancers with the knowledge and tools they need to protect both themselves and their clients from these devastating crimes.”
The initiative will be supported by an information sheet on payment diversion fraud and a social media campaign across the NCA and Law Society’s LinkedIn, X and Facebook channels.
