Helping Solicitors Tackle Property and Registration Fraud (UK)
How solicitors should protect themselves and their clients from the rising risk of property and registration fraud is explained in a new guidance note developed jointly by HM Land Registry and the Law Society to supplement resources already provided by both organisations to help combat fraud and scams.
While successful instances of fraud against solicitors are rare, ‘Property and Title Fraud’ stresses that fraud methods are continually evolving and solicitors should diligently look out for anything unusual or suspicious.
The two organisations have collaborated in drawing up examples of title fraud encountered in daily practice and the guidance note includes references provided by solicitors to cases that further highlight some of the key warning signs.
It also draws on the experience of HM Land Registry which has, since 2010, been gathering evidence of identity and other fraud techniques used by fraudsters to attempt to obtain title to land.
New Money Laundering Regulations
The Law Society stresses that the note is not intended to override or depart from its anti money laundering practice note, which is currently being revised and updated to bring it in line with ‘The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017’.
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