Login
iscover
Consumer Affairs Victoria has warned all affected parties, including real estate agents and home buyers, of a possible scam targeting vulnerable buyers, with losses already exceeding $200,000.
The Victorian consumer affairs regulator has said that it has received notification about hackers targeting the email accounts of real estate agencies and attempting to scam home buyers into paying their deposits into the wrong bank account.
Consumer Affairs Victoria elaborated: “In most cases, the home buyer was sent an email from the selling agent with the contract of sale and trust account details for payment of the deposit. Shortly afterwards, they received a second email from the same email address, advising them of an `error’ in the first email, and to deposit their money into a different account.
“While it looks legitimate, the second email is possibly a hack — and money paid goes to an account not related to the selling agent.”
The director of Consumer Affairs Victoria, Simon Cohen, said that it was “vital” that people involved in purchasing a property pay close attention to detail when transferring significant funds for a home deposit.
He added that home buyers should be “very suspicious” if they receive two emails from the same email address asking for payment.
“If you have purchased a home and receive an email from the estate agent with trust account details to make payment, call the agent or visit them in person to verify that the email is legitimate,” Mr Cohen said.
Real estate agents should also take steps to ensure the security of their online systems and “regularly review” them to avoid compromising situations, with the body advising that they should:
• Consider setting up a two-step verification process with their email accounts. This requires a user to provide more than one type of proof that they are authorised before they can access an account.
• Change their passwords and other verification details regularly.
• Delete spam messages without opening them.
• Not share their email address online unless they need to, and consider setting up a separate email just for online transactions and another for communicating privately with clients and customers.
Any business or individual who believes they have been tricked into paying money into an incorrect account are advised to contact their bank immediately.
Instances of cyber crime can be reported to the Australian Cybercrime and Online Reporting Network (ACORN).
Newsletter
