WER Cybercrime During a Property Transaction
Cybercrime is a growing global threat impacting individuals and industries alike—including property. Given the significant sums involved in buying, selling, or renting property, these transactions have become a prime target for cybercriminals. To help protect your personal and financial information throughout the process, WER has compiled a list of security FAQs and practical advice. We hope this guide will support a safe and secure experience whether you’re purchasing, selling, or arranging a tenancy.
Most Vulnerable to Cybercrime During a Property Transaction? The later stages of a transaction are typically the most sensitive, especially when it comes to
exchanging personal details or transferring funds. Cybercriminals often wait until money is about to change hands before attempting to intercept. However, your email can be compromised at any time, so vigilance is essential throughout the entire process.
Is Searching for Properties Online Risky? Browsing property websites poses minimal risk. However, once you begin registering your details or engaging with agents, be cautious. Only share the necessary information, and avoid providing sensitive data such as bank details unless a relationship is firmly established.
When Should I Take Conversations Offline? Treat all online communication—including emails, contact forms, and social media messages—as potentially insecure. For sensitive matters such as financial details, it’s best to speak directly over the phone or visit the office in person. This prevents the creation of an electronic trail that could be exploited by cybercriminals.
What Does a Fraudulent Email Look Like?
Fraudulent emails often appear genuine but may include:
➤ Fake sender addresses: Hover over the “From” or “Reply-To” fields to verify the true sender.
➤ Urgent or alarming language: Phrases like “Important account update” or “Action required”
are common.
➤ Links asking for action: These often prompt you to “update your details” or “reset your
password.” Never click on suspicious links.
➤ Poor grammar or spelling: Professional emails are typically well-written. Obvious mistakes
should raise red flags.
If something feels off, log into your account through a secure browser (not through the email link) or
call the company directly.
When a Scam Email Seem Credible?
Some scams use publicly available information like your name or address to appear legitimate. If your email has been compromised, fraudsters might impersonate solicitors, agents, or others
involved in your transaction to gain trust and request confidential data.
Get to know the professionals involved in your transaction—by name and ideally in person. If you receive an email or call from someone unfamiliar, don’t reveal any information. Instead, contact your known representative directly to verify any communication. Avoid giving away information by accident. For example, don’t say, “I usually deal with John,” in response to a query—this could help a scammer impersonate that person.
How Can I Reduce Risk?
Always check credentials. Ask for personal referrals or verify membership with relevant professional bodies. Most associations provide online directories where you can confirm a firm’s accreditation. Online reviews can help, but use them with caution as they may not always be reliable.
Additional Tips to Prevent Fraud:
➤ Be cautious with every communication—question anything unexpected.
➤ Share sensitive information in person or via secure methods, not over unsecured email or
phone calls.
➤ Agree timelines with your solicitor or agent so that surprise requests for payments stand
out.
➤ Treat your property transaction like any sensitive business deal—confidential and secure.
IT Security Tips:
➤ Don’t click on suspicious links.
➤ Change passwords regularly and don’t reuse them across platforms.
➤ Use strong passwords that combine uppercase, lowercase, numbers, and symbols.
➤ Never share or write down your passwords.
➤ Be mindful of who you copy into emails—avoid widening the risk of exposure.
➤ Avoid discussing any transaction-related details (like addresses or exchange dates) on social
media.
➤ Only communicate with professionals using official email domains (e.g.,
@companyname.com). Avoid webmail domains such as Gmail or Yahoo for official
correspondence.
What Should I Do If I Suspect Fraud?
➤ Report it immediately to the company using known, verified contact details.
➤ Reset your passwords and review your sent mail for signs of suspicious activity.
➤ Use the tools provided by your email service to report phishing or spam.
➤ Many banks and institutions have dedicated addresses for reporting scams (e.g.,
phishing@…).
Finally, always stay informed. Agents, solicitors, and financial institutions are all bound by strict compliance procedures designed to protect your data—make sure you understand them and ask
questions if anything seems unclear.
Disclaimer
This guide is intended as general advice and does not represent a comprehensive defence against cybercrime. Cybercriminals are constantly developing new techniques. Always exercise caution, use common sense, and work with recognised, regulated professionals throughout your transaction. If something doesn’t feel right, it probably isn’t.