Top tips on sending money on conveyancing completions

In this Conveyancing Matters chat, Stu and Lorraine talk about the topic that should be on everyone’s lips – the risks of fraud when we send money out on completions.The basics are easy to miss in the maelstrom as we approach the end of the SDLT holiday.Sending money out on conveyancing transactions still represents one of the biggest risks to firms so we thought that we would do a reminder for conveyancers.We mention the Confirmation of Payee Scheme and the importance of using Trusted Numbers to help minimize the risk.  And do you know your bank’s requirements – what do they expect you to do to mitigate the risk of fraud?Guess what?  There are still law firms out there that will include their bank details in an email.We hope that we are not telling conveyancers anything new but the time of greatest pressure puts us at the greatest risk of fraud – so do take care in the run up to 30 June.What recommendations do you have?Remember, this is just a chat and our opinions, not advice!Find our podcasts on YouTube, Spotify and apple podcasts www.pcslegal.co.uk www.adaptlaw.co.uk

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