Conveyancing is increasingly vulnerable to financial crime. In fact, according to the Solicitors Regulation Authority, fraud in conveyancing is the most common cybercrime in the legal sector. As a property lawyer, it is vital to be constantly on alert to the latest threats of cybercrime, fraud and money laundering.
Whatever your level of experience or seniority, this course is designed to remind and update you of the latest financial threats to your practice, reflecting the reality that the criminals continually strive to keep one step ahead of the game.
You will be familiar with cases where property lawyers have been held liable to lenders for breach of trust in fraud cases; and incidences where fraudulent emails sent to unsuspecting clients – purportedly from the solicitors’ firm – have led to clients paying purchase monies to the criminals. Last year, city firm Mishcon de Reya was found liable for breach of trust after a tenant, posing as the property owner, fraudulently deceived the firm’s client into buying the property.
So as a residential conveyancing practitioner, how should you react when you have doubts about the source of a new client’s funds? How can you spot potential fraudulent mortgage applications? Our conveyancing expert, Lorraine Richardson, will guide you through the key threats you may face today and how to spot them – together with suggested practical steps to head off those threats.
Key learning outcomes
- Understand today’s threats of cybercrime and fraud in conveyancing
- Appreciate how to identify these threats
- Know what steps to take when a threat is identified
What does this course cover?
This course covers the key threats to conveyancing practice, including:
- An outline of the key money laundering threats
- Threats of fraud in conveyancing
- Defining cybercrime
- What steps you can take to mitigate these risks
- Overview of the Law Society’s Practice Note, ‘Property and Registration Fraud’
- How to identify the ‘red flag’ files
- The latest key case law
You may also benefit from attending High Risk and Unusual Clients in Conveyancing at the same venue in the morning.