Property deposit redirection
Fake conveyancer email tells you to send your house deposit to a new bank account.
How it works
Scammers hack or spoof the email of your conveyancer, solicitor or real-estate agent. Just before settlement they send 'updated trust account details' and ask you to transfer your deposit or full purchase amount. Funds go to a money mule and are usually irrecoverable. This is the single most damaging scam in Australia by dollar value.
Common scenarios to watch for
This scam shows up in several different shapes. Recognise the pattern, not just one message.
Hacked conveyancer 'updated trust account'
Days before settlement, an email from your conveyancer (with their real signature and history) says the trust account has changed. The email is from a hacked inbox or a lookalike domain.
"Please note our trust account has changed effective today. Send the $92,000 balance to BSB 062-xxx Acc 8821 4470 — Smith Legal Holdings."
Red flags to spot
- Did bank details 'change' close to settlement day?
- Is the sender domain even one letter different from the real one?
- Did you verify the new account by phoning the firm on a number from their website?
- Does the account name exactly match the firm's registered trading name?
Fake rental bond on a listing that doesn't exist
A scammer copies a real listing onto Gumtree or Facebook Marketplace at a low price, claims to be overseas, and asks for the bond + first month before you can view.
"I'm in Dubai for work — pay 4 weeks bond + 2 weeks rent to hold and I'll courier the keys."
Red flags to spot
- Is the 'landlord' overseas and unavailable to show the property?
- Is the rent suspiciously below market for the suburb?
- Are you asked to pay before any inspection?
- Does the same listing appear on a real agency's site at a higher price?
Red flags
- 🚩Last-minute email saying bank details have changed
- 🚩Email subtle differences in sender address (extra letter, .co vs .com.au)
- 🚩Pressure to transfer before settlement deadline
- 🚩Conveyancer suddenly unreachable by phone
- 🚩BSB/account name doesn't match the firm's trading name
What to do
- 1Always call your conveyancer on a number from their website (not the email) to verify bank details.
- 2Treat ANY change of bank details as suspicious until verified by phone.
- 3Send a $1 test transfer first and confirm receipt verbally.
- 4Report immediately to your bank's fraud team — speed determines recovery odds.
- 5Notify IDCARE and ReportCyber within 24 hours.
Who's targeted
- Home buyers approaching settlement.
- Anyone making a large transfer to a conveyancer or solicitor.
Why it works
- The compromised email thread is genuine, with only the bank details changed.
- Settlement deadlines create pressure to act fast.
Common variations
Different shapes of the same scam — recognise the pattern.
- 1'Updated trust account' email near settlement.
- 2Compromised agent email rerouting bond and rent.
- 3Spoofed-domain conveyancer (.co vs .com.au).
If you've already been scammed
- 1Call your bank's fraud team immediately — every minute matters.
- 2Notify your conveyancer, the real estate agent and police.
- 3Report to ReportCyber and call IDCARE within 24 hours.
Frequently asked
Whose bank account should funds go to?▾
The conveyancer's statutory trust account, verified by phone using a number from their website.
Is PEXA safer than transferring?▾
Yes — PEXA's locked workflow is harder to redirect. Ask your conveyancer to use it.
Can I get the money back?▾
Sometimes, if reported in the first hour. After that, recovery rates drop sharply.
Questions people ask about this scam
- How does the property deposit redirection work?
- Scammers hack or spoof the email of your conveyancer, solicitor or real-estate agent. Just before settlement they send 'updated trust account details' and ask you to transfer your deposit or full purchase amount. Funds go to a money mule and are usually irrecoverable. This is the single most damaging scam in Australia by dollar value.
- What are the warning signs of a property deposit redirection?
- Watch for: Last-minute email saying bank details have changed; Email subtle differences in sender address (extra letter, .co vs .com.au); Pressure to transfer before settlement deadline; Conveyancer suddenly unreachable by phone.
- How can I tell if this is a scam?
- Stop and verify independently. Contact the organisation using details you look up yourself, never the ones in the message, and don't act on urgency. You can also paste the message into the ScamShield AI scam checker for a risk assessment — it gives guidance, not a guarantee.
- What should I do if I clicked the link or replied?
- Stop all contact, change the password on any account you logged into and turn on two-factor authentication, and watch your accounts for changes you didn't make. Always call your conveyancer on a number from their website (not the email) to verify bank details. Treat ANY change of bank details as suspicious until verified by phone. Send a $1 test transfer first and confirm receipt verbally.
- What should I do if I already sent money?
- Contact your bank immediately and ask about stopping or recalling the payment, keep all evidence, then report the scam. Be wary of anyone who later offers to recover your money for a fee.
- Where should Australians report this scam?
- Report scams to Scamwatch (National Anti-Scam Centre), report cybercrime to ReportCyber, forward scam texts to 7726, and contact IDCARE if identity details were exposed. Contact your bank first if money is involved.
General scam awareness information. ScamShield AI cannot guarantee that every scam will be detected or that a message is legitimate.