A new online service has been launched in the UK to protect homebuyers and professionals in the property industry from the threat of cybercrime.
The service, which aims to protect homebuyers, estate agents and conveyancers from cybercrime, has been developed as a means of preventing fraud from having an impact on professionals and their customers. The Safe Move Scheme works by independently verifying the identity of a conveyancing firm and only authenticating bank accounts that have been added to the Safe Move Scheme database.
Ed Powell, creator of the Safe Move Scheme, said:
"Recent media attention around fraudsters intercepting money transfers has shown how easily buyers, solicitors and estate agents can be tricked by criminals.
"Safe Move Scheme, through its Safe Buyer product, offers a secure way for parties to transfer money, and its Safe Mail feature allows for secure message transfer, avoiding the need for emails which are so easily hacked."
By confirming the legitimacy of any bank details provided before money is transferred to a solicitor or conveyancer, the buyer will be protected against the possibility of cybercrime.
If you're interested in buying, selling or remortgaging a property, contact our conveyancing solicitors on 0845 603 0708 for advice.