- Three property buyers lose over $330,000 to payment redirection scams in 2026
- Eight reports received from settlement agents whose clients were targeted
- Consumers warned to check payment instructions before transferring funds
Western Australian property buyers are being urged to ensure payment instructions are genuine before transferring settlement funds, after scammers stole more than $330,000 from consumers in three reported property-related payment redirection scams this year.
WA ScamNet, at the Department of Local Government, Industry Regulation and Safety, has received reports from eight settlement agents about payment redirection scams in 2026, with scammers continuing to target property transactions involving large financial transfers. In 2025, consumers reported losses of more than $827,000 to property settlement scams.
In the most significant recent case, a WA settlement agent reported that one of their clients lost almost $200,000 after receiving fraudulent payment instructions relating to a property settlement. Information provided to WA ScamNet indicates the scammers impersonated a legitimate mortgage broker involved in the transaction and directed the buyers to transfer their settlement funds into a fraudulent bank account.
That loss follows another case earlier this year in which a consumer lost more than $110,000 after a scammer impersonated their settlement agent. In a separate report, a consumer who lost $20,000 provided email correspondence showing the scammer falsely claimed the payment had not been received, a tactic likely used to delay the fraud being detected and allow time for the funds to be transferred beyond recovery.
Property payment redirection scams often involve criminals intercepting or impersonating communications from parties involved in a property transaction, such as real estate agents, mortgage brokers, settlement agents or conveyancers. Scammers may gain access to email accounts, monitor correspondence and send convincing impersonation emails containing fraudulent bank details designed to redirect large payments into accounts under their control.
Red flags can include emails advising of new or changed bank account details, messages sent from slightly altered email addresses, unexpected payment instructions shortly before settlement, or requests to urgently transfer funds. Consumers should contact their settlement agent using contact details they have obtained independently of any email, such as from the agent's official website, and confirm payment instructions before transferring any money.
Commissioner for Consumer Protection Trish Blake said property purchases were an attractive target for scammers because of the large sums of money involved and the number of parties involved in a transaction.
“Buying a home is one of the biggest financial commitments most people will ever make, so losing settlement funds to a scam can be financially and emotionally devastating,” Ms Blake said.
“One concerning tactic we’ve seen involves scammers telling victims that a payment has not gone through after the money has already been transferred. This can delay the fraud being detected and give scammers valuable time to move the money out of reach.
“Consumers should treat any request to make payment with caution – a simple phone call, or in-person visit, to confirm the request and the bank account details could prevent the loss of tens or even hundreds of thousands of dollars.”
Advice to consumers:
- Check email addresses carefully before acting on payment requests or changes to bank details, as scammers often alter just one character;
- Contact the business using a trusted phone number obtained separately from the email – or consider going in person – to verify payment instructions;
- Before transferring funds, use your bank’s Confirmation of Payee results to confirm the account name matches the account number and do not proceed if the details do not align;
- When replying to important emails, manually enter the recipient’s address or select it from your contacts rather than using ‘reply’;
- Enable multifactor authentication on email, banking and other online accounts to reduce the risk of unauthorised access; and
- Contact your bank immediately if you believe funds have been transferred to a scammer.
More information about scams is available on the WA ScamNet website where online scam reports can be lodged and enquiries can be made by email consumer@lgirs.wa.gov.au or phone 1300 30 40 54.
Media Contact: media@lgirs.wa.gov.au