‘Friday afternoon fraud’: warning for UK homebuyers on bank scams
Victims have lost tens of thousands – and in one case £300,000 – due to fake emails from solicitor or estate agent You are poised to move house and are awaiting the solicitor’s instructions that things are ready to go and it is time to hand over your deposit. When the email arrives giving you their bank details, you set up the transfer and move the cash. And then the solicitor calls to ask where…
The "Friday afternoon fraud" scam targets UK homebuyers, warning them against trusting emails from solicitors or estate agents asking for payment details. Victims have lost tens of thousands, with one case involving £300,000. This scam involves criminals gaining access to email chains between buyers and legal professionals, requesting payments to fraudulent accounts.
The term "Friday afternoon fraud" originates from the timing, often occurring shortly before a weekend during property sales. Between April 2024 and March 2025, 140 property cases were recorded, with an average loss of £78,393.
Fraudsters exploit the trust between buyers and sellers, requesting payments earlier than expected or claiming new bank details. To avoid falling victim, buyers should verify bank details directly through phone or in-person communication, ensuring the details match what was initially shared. Banks should alert customers of any discrepancies during transfers, prompting immediate investigation.
Buyers should also refrain from discussing their property transactions publicly on social media, as this could expose them to targeted scams.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
