Protect Your Clients from Financial Fraud

Real Stories, Real Impact

Sylvia Wilson lost £300,000

Sylvia Wilson, a grandmother, was devastated after losing her life savings of over £300,000 in a property purchase scam. Hackers intercepted her emails with her solicitor and tricked her into transferring the funds to a fraudulent account. It wasn't until she arrived at the estate agent's office to collect her new home's keys that she realized something was wrong.

Despite initial refusals from the banks involved, Wilson eventually recovered her money after Guardian Money intervened. Her story highlights the critical need for greater awareness and protection against these sophisticated scams.

• Read Sylvia story

Real Stories, Real Impact

Mary Smith lost £60,000

Mary Smith, a London-based marketing professional, fell victim to a conveyancing fraud scam, losing £60,000. Hackers intercepted email communications between her and her solicitor during the purchase of a home, spoofing the solicitor's email address and tricking her into sending the deposit to a fraudulent account. Despite quick action, only £14,000 was recovered.

The incident left Smith £46,000 out of pocket, forcing her to use savings meant for home renovations to complete the purchase. This case highlights the importance of verifying financial details through secure methods rather than relying solely on email.

• Read Mary story

29% Rise in Fraud

Lloyds Bank reports a 29% increase in conveyancing fraud where scammers impersonate solicitors to steal house deposits.

Average Loss of £47k

Victims lose an average of approximately £47,000 per scam and this figure is likely to go up.

45% of Victims Under 40

First-time buyers are particularly vulnerable, with nearly half of the victims being 39 years old or younger.

Tailored Protection

Insure Large Purchases

Our new insurance policy is specifically designed to safeguard clients making significant purchases. With rising fraud rates and sophisticated tactics, it’s essential to offer robust protection.

• Don't let fraud derail your clients' dreams

Crucial Regulatory Changes Ahead

Reimbursement

Starting next year, banks and payment service providers will be required to reimburse victims of APP scams. The current cap is £415,000, but there are ongoing efforts to reduce this to £85,000, potentially leaving victims with substantial losses.

While most major banks currently participate in a voluntary scheme, the new mandatory scheme aims to provide more comprehensive protection.

AI-Powered Fraud: A Growing Threat

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