A timely call from NAB’s fraud team has prevented an Australian home buyer from losing more than $100,000 to a sophisticated property scam.
Daniel*, who was in the middle of purchasing his home, was preparing to pay stamp duty when NAB flagged a large transfer and contacted him to confirm the payment.
NAB Digital Fraud and Scams Analyst Sanu Ale Magar said something about the transfer didn’t sit right. “He explained the payment was for stamp duty. That’s a common part of the home buying process, but something didn’t feel right, so I took a closer look,” she said.
Daniel told NAB that the payment instructions had come via email from his solicitor and appeared legitimate based on his settlement progress. “These scams work because they arrive at exactly the right time,” Sanu explained.
“People are expecting to move large sums of money, so the request doesn’t raise immediate alarm.”
Sanu placed the transfer on hold and advised Daniel to independently confirm the details with his solicitor using a trusted phone number. When he did, he discovered the email had not come from his solicitor at all. The bank details were fraudulent, part of a sophisticated impersonation scam. The transfer, worth more than $100,000, was stopped before any money was lost.
“The relief was immediate,” Sanu said.
“If that payment had gone through, the funds would have been very difficult to recover.”
Business Email Compromise scams like this are increasingly targeting property buyers, with criminals often impersonating solicitors or conveyancers at moments when buyers are under pressure to act quickly. Stamp duty payments are particularly high risk, involving large one-off transfers and tight settlement deadlines.
“For many people, this money represents their life savings,” Sanu said.
“Taking a moment to stop and verify details can prevent enormous financial and emotional stress.”
Chris Sheehan, NAB’s Executive Group Investigations and a former 27-year AFP member, urged Australians to watch for pressure tactics.
“Be especially cautious of urgent payment requests or sudden changes to bank details, even if they appear to come from a trusted organisation.”
“If anything doesn’t feel right, pause and independently verify before making a decision. Most Business Email Compromise scams succeed not because people are careless, but because the request looks routine and sounds reasonable,” Sheehan adds.
“A moment of verification—a call, a message, a second check—can stop a significant financial loss.”
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