An astute Perth father and son have thwarted an attempt by scammers to steal more than $200,000 during their property settlement after fraudsters likely hacked their actual settlement agency's email accounts.
The Mandurah property buyers received an email purporting to be from their settlement agent asking them to deposit funds into a bank account in order to finalise settlement.
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Checklist to avoid being scammed
Consumer Protection's guide to avoid becoming the victim of a scam.
The pair noticed the email address was slightly different to the original being used by their agent, and contacted them directly to query the request.
Their settlement agent confirmed it was a fake email.
Acting Commissioner for Consumer Protection David Hillyard commended the duo for questioning the email.
"Being suspicious about any email asking for money and double checking its authenticity is good practice, especially when large amounts of money are involved," he said.
"It's very easy for scammers to hack into email accounts, as we believe happened to the buyers in this case, and get information about financial transactions currently underway.
"The scammers then clone email addresses and try to entice the parties involved to syphon funds from the transaction into bank accounts under their control."
Mr Hillyard said in most cases, it only took a phone call to confirm whether an email request for money was genuine.
"Whether you are a buyer or seller or real estate/settlement agent, double check email addresses and bank accounts before sending or authorising the transfer of funds and, if in doubt, pick up the phone," he said.
"It could prevent you from becoming a scam victim and suffering financial loss."
More information on scams is available at www.scamnet.wa.gov.au and reports can be sent to wascamnet@commerce.wa.gov.au or call 1300 30 40 54.