Cybercrime issues affecting solicitor firms are on the rise according to Birmingham-based regulator the Solicitors Regulation Authority (SRA).
The SRA has said increasing numbers of reports are being received of firms either being contacted by con artists or falling victim to fraudulent activity, with potentially serious consequences for clients buying or selling property.
Now the SRA is urging solicitors to step up their efforts to keep criminals out and protect client interests.
The majority of recent scams fall into two categories.
Firms either receive calls pretending to be banks to obtain sensitive information, such as account passwords or emails between firms and clients are intercepted - leading to client funds being paid into fraudsters’ accounts
This is against a backdrop of continued instances of con artists pretending to be solicitors, using either fake names or stealing the identities of genuine firms. Alerts about such scams are posted on the SRA’s website.
Paul Philip, SRA chief executive, said: “ Law firm client accounts are being targeted and solicitors and their clients are suffering disruption and potential loss. It is essential that firms understand the risks and take precautions to avoid falling victim to these attacks.
“This is an issue that is not going away. This is obvious not just from the reports we are receiving direct from law firms and members of the public, but also in our discussions with local law societies.”
Firms are being advised to check their systems for guarding against cybercrime attacks and seek professional advice where needed.
