The risk of vendor conveyancer fraud has been increasing in recent years. As fraudsters have adapted their methods, it is no longer okay to assume that a solicitor is safe to deal with, even if you recognise the name as a reputable practice. In fact it may be a criminal using a stolen identity and diverting the funds to their own account.
Lawyer Checker is a simple but effective online service that allows you to gather further information on the vendor conveyancer that you are sending purchase funds to. When account and firm details are submitted, Lawyer Checker will identify if there is a track record or previous use associated with that account. An immediate response of "frequent", "infrequent" or "unknown" will be returned. If "infrequent" or "unknown", Lawyer Checker's in-house team will conduct further checks to give you more information and help you decide if it is appropriate to send money to that account.
Users of Lawyer Checker can benefit from a free of charge refresh. This is useful if there is a lag of several months before exchange of contracts, as it enables you to check that you're still comfortable with transferring funds to the vendor's conveyancer.
If you would like to take advantage of this refresh service, please email the Geodesys Customer Services Team.
Identity fraud is becoming more prevalent, so it has never been more important to have a system in place to verify your clients’ identity.
The AML Search is the UK standard in Anti-Money Laundering Customer Due Diligence screening. It gives you a fast, accurate result, providing you with peace of mind there will be no unexpected delays, additional costs, or lost money (through fraud) further down the line.
All Personal AML Searches include full positive and negative verifications of identity and will provide you with a high risk alert where appropriate.