Home sellers at high risk of electronic fraud

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Home sellers at high risk of electronic fraud

Postby johnsmith » 29 Jun 2018, 09:47

Further to Red Barons thread on ozpol


Red has the wrong end of the stick.

I've just covered this with my lawyers because I'm selling my business. The fault isn't with PEXA, nor is it with any state govt. It's merely an intercept of emails through a server and account numbers are replaced.

I suggested during a recent meeting with my lawyer that I would email her account details so they can affect the transfer of fund upon settlement, but my lawyer refused. She said they would not accept any account details using email. I had to write them down and drop them off personally. (Luckily for me, my lawyer lives 2 doors up from me so it's not such a big issue.) Apparently the scam works like this: (I'll use moink an aussie as examples)

Aussie represents monk for property conveyancing.
Monk emails aussie with account details in preperation for settlement of property
Hackers using various triggers words to alert them to such emails, intercept the email at the server. They then change the account details with their own account numbers
Aussie receives an email, clearly from Monk, and assumes the details are monks. Even if he calls monk to confirm 'did you send me account details', monk will answer yes, and no one is any the wiser.
Aussie transfers funds to hackers account
Monk twiddles his thumbs waiting for money to arrive, which never will.

shifty fuckers these hackers ... and very clever
I hope that bitch who was running their brothels for them gets raped with a cactus.
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Re: Home sellers at high risk of electronic fraud

Postby HBS Guy » 29 Jun 2018, 11:59

Online is good, very fast—but obvious security issues always. Still a role for Australia Post!
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