The scam, about which the AIIF is getting increasing notifications from conveyancers goes more or less as follows:
The conveyancer is fraudulently requested by someone posing as the seller/his spouse, around the time of registration, to pay the proceeds into a different bank account from the one originally supplied to the conveyancer. The money is paid over and cleared almost immediately.
The AIIF would like anyone who has already fallen for the scam to notify them as soon as possible so that the AIIF can attempt to investigate where these people are getting the information and how the banks are allowing these “clearing” accounts to run.
The following information would be helpful:
- The names of the seller and purchaser
- The deeds office where the documents were lodged.
- If the new banking details were provided before or after prep.
- The bond cancellation bank.
- The bond registration bank.
- The name of the bank into which the payment was incorrectly made.
- If the seller signed a document wherein they provided written instructions regarding the payment of the proceeds
- If the new banking details were provided via telephone, email, etc.
Ann Bertelsmann | Risk Manager (AIIF)
Aon South Africa (Pty) Ltd | Risk Solutions