Cyberattacks against conveyancing transactions by so-called ‘Friday afternoon fraudsters’ are the most common cybercrime, according to the Solicitors Regulation Authority’s latest report on IT security.
Some three-quarters of all cybercrime reports to the regulator occur on Friday afternoons – usually by email modification – with the majority of cases involving conveyancing. By hacking into the email system of an individual, criminals can alter the client’s emails to the solicitor or vice versa, changing bank details so they receive the funds.
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