Insight: Rise of Fake Firms - Part 3

In this short blog series, Lawyer Checker’s Jennifer Williams outlined how fraudsters have impersonated law firms and stealing vast amounts of money and what it has meant for conveyancers. Today she is focusing on what is being done to combat this type of crime.

Battling the cyber criminals

In our previous blogs we’ve looked at the rise of fake firms and the impact these firms have on conveyancing. 

In our final blog we look at what is being done to fight this online battle.

As we know fraudsters are very subtle in the way they clone or hijack conveyancing firms, so due diligence is often the first port of call when it comes to verifying who you’re conducting your transactions with.

Although some of this is easier said than done. That’s why there are services out there, who will conduct searches for you, allowing you the safe knowledge that both the firm and the client’s money is protected.

The Solicitors Regulation Authority Risk Outlook 2017/18 said: “...consider(ing) using systems such as any of the firms that offer lawyer checking services as befits the law firm’s particular circumstances to verify that what is described as the contact or bank information for a third-party law firm is genuine.”

Lawyer Checker is one of these third-party protection providers for law firms, who can help check if the information you have is genuine. However, it also provides additional services, which will beef up the firm’s security and give you cyber accreditation. This is just another way to prevent fraudsters from destroying all of your hard work. Fraudsters haven’t been having it all of their own way.

As we mentioned in the previous blog, they’ve been receiving their comeuppance, not only receiving hefty jail sentences but some have also had to pay back vast sums of money under the Proceeds of Crime Act. Missed Part 1 and Part 2 of our blog? You can read them here: