Save
Home ownership dream shattered after $133k scam
The Western Australian government has issued a warning surrounding a new scam targeted at home buyers following a couple losing $133,000 in a payment redirection scam.
Home ownership dream shattered after $133k scam
The Western Australian government has issued a warning surrounding a new scam targeted at home buyers following a couple losing $133,000 in a payment redirection scam.
According to Consumer Protection WA home buyers are being targeted by “ruthless criminals” posing as settlement agents and other parties involved in the home buying process.
The latest victims were a couple in Thornlie who had their offer on a Pair Water home accepted only to lose the settlement cost to scammers.
The 32 year old husband received an email which he thought was the settlement agent asking for a payment of $110,000 and included bank account details.
The email address was almost the same as the settlement agent’s, except for one extra letter.
Not realising this, the victim transferred three payments amounting to $110,000 on 15 and 16 December 2020, then made a further payment supposedly for stamp duty of $22,981.40 on 21 December 2020.
The bank was reportedly unable to retrieve the funds and the couple were unable to purchase the property.
Commissioner for Consumer Protection Lanie Chopping said it was heartbreaking for the couple to lose money that they had worked so hard to save.
“Ruthless criminals who hide behind the anonymity of the internet have little regard for the circumstances of their victims. We must ensure that we do not reward their devious efforts by falling for their deceitful tactics,” Ms Chopping said.
“Payment redirection or ‘man in the middle’ scams are becoming all too common with email accounts being hacked and cloned, with demands for money being made in situations where the victims may be expecting to receive such a request, so are less likely to question it.
The commissioner also highlighted that due to the size of property transactions they are often prime targets for scammers.
“People working in the industry and consumers involved in buying or selling property need to be extra vigilant when acting on payment requests. Be suspicious of any email asking for a payment of money or advising of a change in bank account details to where payments are to be sent,” she said.
Consumer Protection has issued the following steps to reducing the likelihood of falling victim to scams:
- Verify the sender of emails requesting payments or changing bank account details by checking that the email address is genuine;
- Call the sender to confirm the authenticity of the request and the account details, using previously known contact numbers or independently find out with an internet search or go to the agent’s website for contact information;
- Visit the agent’s office in person to verify the details before completing the transfer or hand over a bank cheque.
About the author
About the author
Scams
‘Alarming scam’ costing young Aussies their savings
The Australian Taxation Office (ATO) is warning of an automated scam call that is duping Australians out of everything they have. ...Read more
Scams
Crypto scams revenue halves in 2020
Despite 2020 seeing significant growth in crypto markets, with investors looking for protection against the pandemic, the number of victims to crypto crimes has dropped sharply, new research has revea...Read more
Scams
New online dating scam costing Aussies millions
Australians lost roughly $37 million to new romance scams last year, with scammers turning to dating apps to lure victims into investment scams. ...Read more
Scams
ASIC warns investors over ‘too good to be true’ bogus bond scheme
ASIC has warned investors of imposter bond investment offers where scammers are targeting Aussie investors by pretending to be associated with well-known domestic and international firms, offering rat...Read more
Scams
Top 10 work-from-home phishing scams revealed
Aussies who have reverted to working from home during the COVID-19 pandemic are being urged to be on the lookout for email scams. ...Read more
Scams
Older Aussies at the mercy of cyber criminals: Top 5 cyber crimes revealed
As consumers shift from their usual grocery runs to online shopping, a growing number of older Australians are falling victim to cyber crime, an industry expert has warned. ...Read more
Scams
Top 10 security tips this Black Friday and Cyber Monday
With shoppers preparing themselves for mass discounts this Black Friday and Cyber Monday, experts are reminding shoppers to remain alert to online fraud. ...Read more
Scams
GST fraudster cops 5 years in jail over $5m scheme
A 38-year-old man has been sentenced to five years imprisonment after conspiring to defraud the Commonwealth of more than $5 million through the goods and services tax refunds. ...Read more
Scams
‘Alarming scam’ costing young Aussies their savings
The Australian Taxation Office (ATO) is warning of an automated scam call that is duping Australians out of everything they have. ...Read more
Scams
Crypto scams revenue halves in 2020
Despite 2020 seeing significant growth in crypto markets, with investors looking for protection against the pandemic, the number of victims to crypto crimes has dropped sharply, new research has revea...Read more
Scams
New online dating scam costing Aussies millions
Australians lost roughly $37 million to new romance scams last year, with scammers turning to dating apps to lure victims into investment scams. ...Read more
Scams
ASIC warns investors over ‘too good to be true’ bogus bond scheme
ASIC has warned investors of imposter bond investment offers where scammers are targeting Aussie investors by pretending to be associated with well-known domestic and international firms, offering rat...Read more
Scams
Top 10 work-from-home phishing scams revealed
Aussies who have reverted to working from home during the COVID-19 pandemic are being urged to be on the lookout for email scams. ...Read more
Scams
Older Aussies at the mercy of cyber criminals: Top 5 cyber crimes revealed
As consumers shift from their usual grocery runs to online shopping, a growing number of older Australians are falling victim to cyber crime, an industry expert has warned. ...Read more
Scams
Top 10 security tips this Black Friday and Cyber Monday
With shoppers preparing themselves for mass discounts this Black Friday and Cyber Monday, experts are reminding shoppers to remain alert to online fraud. ...Read more
Scams
GST fraudster cops 5 years in jail over $5m scheme
A 38-year-old man has been sentenced to five years imprisonment after conspiring to defraud the Commonwealth of more than $5 million through the goods and services tax refunds. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
