Law Society to issue advice to solicitors of the threat of mortgage fraud

7 March 2008

The Law Society is preparing a revised practice note to provide solicitors with details of the warning signs and the steps they can take to protect themselves from being targeted by mortgage fraudsters.

In order to help solicitors in the ongoing and increasing fight against mortgage fraud the advice will include the latest methodologies being employed by organised fraudsters.

A recent report by the Association of Chief Police Officer's clearly demonstrates that fraudsters are becoming more sophisticated in their attempts to undertake mortgage fraud. With the increased sophistication by fraudsters conveyancing professionals are more vulnerable than ever to having their services abused by organised criminals.

Since the mid 1990's the Law Society has been providing its members with guidance and training to help them protect their practices and prevent all types of fraud.  The aim of this up-to-date advice is to enable solicitors to identify when they are being asked to unwittingly assist a fraud.

Law Society Vice President Paul Marsh said: "The Law Society is encouraged by the new collaborative approach across industry and government to tackle this problem. We look forward to being part of this partnership, coordinated by the National Fraud Strategic Authority, and to continue our role in educating the legal profession on this important issue."