Buying or selling property in WA? Be on high alert. Scammers are targeting real estate transactions with increasingly sophisticated tactics designed to intercept settlement funds and steal personal information.

At Safety Bay Settlements, we take fraud prevention seriously, but your vigilance is just as crucial. Cybercriminals often pose as real estate agents, settlement agents, or banks, sending fraudulent emails requesting payments or updates to bank details. These scams are devastating and can result in financial losses that are difficult to recover.

Common Scams in Property Transactions:

• Email Fraud – Scammers hack or impersonate real estate professionals, instructing buyers to transfer settlement funds to fraudulent accounts.

• Fake Phone Calls – Criminals pose as bank representatives or government agencies to trick you into providing sensitive information.

• Phishing Emails – Malicious links or attachments disguised as legitimate documents can compromise your email and financial security.

How to Protect Yourself:

• STOP – Before transferring money, STOP and confirm details directly with your settlement agent using trusted contact details.

• THINK – Could this request be fake? Look for red flags like urgent requests, spelling errors, or unexpected bank detail changes.

• ACT – If something feels off, ACT fast. Contact your settlement agent immediately and report suspicious activity to ReportCyber (www.cyber.gov.au) or Scamwatch (www.scamwatch.gov.au).

Key Takeaways: 

Never send money based on email instructions alone—always verify with a phone call. Use strong, unique passwords for email accounts and enable multi-factor authentication. Stay cautious of any last-minute bank detail changes.

Cyber fraud is on the rise, but by staying informed and taking proactive steps, you can safeguard your property transaction from financial loss. If in doubt, contact Safety Bay Settlements on (08) 9527 2233 before making any transfers.

Stay vigilant. Stay safe. Protect your settlement.