Avoiding Email Hijacking in Real Estate

With National Cyber Security Week upon us, it’s the perfect time to spotlight these risks and share tips to keep yourself safe when transacting in the real estate world. 

I’ve noticed an alarming rise in scams lately.

Despite my banking background, I’ve been tricked before! I almost fell for a Facebook phishing scam when I received a notification claiming our business page had breached community standards. I clicked on it and was prompted to log in again. Thankfully, I questioned “why Facebook would ask me to log in again when I was already logged in”—turns out it was a fake page designed to capture my login details.

This experience shows that no one is immune to scams. Today, I want to highlight a particularly sneaky scam: email hijacking.

What is Email Hijacking or Email Interception?

One of the most alarming threats in real estate is the interception of emails containing sensitive financial information. Cybercriminals can hijack or mimic emails from real estate agents, brokers, or conveyancers, sending fraudulent banking details to unsuspecting buyers, landlords, or tenants. The result? Clients may unknowingly transfer large sums of money to the scammers, often with no way to recover the funds.
These emails can look legitimate, with familiar logos, signatures, and writing styles. However, they are from cybercriminals who have intercepted the communication and swapped the genuine bank details for their own fraudulent ones.

How to Protect Yourself: Essential Tips

Always Verify Bank Details by Phone: If you receive an email with bank details or a notice about a change in accounts, don’t rely on the email alone. Call your real estate agent, broker, or conveyancer using a phone number you’ve previously used or one listed on their official website to verify the details. Avoid using the phone number provided in the email, as it may too be fraudulent.

Be Suspicious of Last-Minute Changes: Scammers often create a sense of urgency to catch you off guard. If you receive last-minute changes to payment instructions, confirm these changes directly with your trusted contacts.

Monitor Your Email for Unusual Activity: Watch for suspicious activity in your email account, such as unfamiliar login alerts or emails with small spelling mistakes or unusual phrasing. These could be signs of compromise.

Trust Your Instincts: If something doesn’t feel right, verify the information. It’s better to double-check than to fall victim to a scam. If you’re unsure, consult a trusted friend or family member.

What to Do If You Suspect a Scam

If you suspect fraudulent payment instructions or that your email has been compromised, contact your bank immediately. They may be able to stop the transfer if caught early. Report the incident to your real estate agent, broker, or conveyancer, and also to ScamWatch to help prevent others from becoming victims.

As we mark National Cyber Security Week, remember that cybersecurity isn’t just a business concern—it’s something we all need to take seriously.

Stay safe and stay informed.

Myalls Fawcett