Are your finances safe? This family’s $40,000 loss proves anyone can be scammed
- Replies 3
Falling victim to a scam is something no one ever expects, yet it can happen to anyone in the blink of an eye.
With cybercriminals becoming increasingly sophisticated, even the most cautious individuals can find themselves caught off guard.
Here’s how one family’s dream turned into a nightmare after they fell prey to an elaborate scheme.
A Brisbane family’s dream of home ownership turned into a nightmare after falling victim to an elaborate email scam, losing $40,000 in the process.
Christine and David Rose spent seven years saving to purchase a home for their family of six.
The couple had just marked the milestone of buying their dream home, even placing a ‘sold’ sticker on the property’s for-sale sign.
However, their joy quickly turned to despair when they became the targets of a sophisticated cybercrime.
A scammer gained access to the email thread between the Roses and their conveyancing lawyer, using identical email signatures and letterheads to appear legitimate.
Christine explained that she was sent an email requesting the final $40,000 instalment for the house deposit, along with bank details for the transfer. Believing the email was from her lawyer, she complied.
Days later, Christine discovered the account to which she had sent the funds was fraudulent.
‘I don’t know how the scammers were able to impersonate our lawyer and join the email chain,’ she shared.
The family reported the incident to their bank, ING, the scammer’s bank, Commonwealth Bank, and the Queensland Police Cyber Crime Department.
Despite their efforts, they were only able to recover $3,000.
‘It was absolutely gut-wrenching. It’s unbelievable, we feel extremely violated,’ Christine shared in devastation.
The couple had to borrow an additional $40,000 to complete the purchase, but the extra loan left them in a precarious financial position.
Adding to their stress, their current rental property is listed for sale, and their lease expires in just three weeks.
Christine said her husband, David, was an ‘absolute wreck’ and struggling to process the ordeal.
To help recover from their financial setback, the Roses set up a GoFundMe campaign, which had raised $8,565 from 49 donations at the time of writing, with a goal of $40,000.
Email scams targeting home buyers has become a growing concern.
Slater & Gordon lawyer Julijana Todorovic highlighted the increasing number of inquiries from property owners falling victim to similar scams.
‘We’ve been approached by an increasing number of people who have unwittingly transferred large sums of money—many hundreds of thousands—in accordance with detailed instructions they’ve received via email purporting to be from their conveyancer,’ Ms Todorovic said.
‘But to their horror, they’ve learned that the email was from someone pretending to be their conveyancer. They’ve then discovered that the funds had not been transferred to the conveyancer’s trust account at all, but rather gone straight to a malicious actor,’ Ms Todorovic added.
He continued, ‘While some bank customers are able to get their bank to block transfers if the fraud was discovered promptly, in other cases it was too late.’
Ms Todorovic advised Australians to stay vigilant especially when transferring funds.
‘Double-check the email address of any payment instructions you receive from your conveyancer, and if the address differs from previous correspondence you’ve had from them, you may be being scammed.
‘Taking steps such as speaking to your conveyancer to check that the request for payment is legitimate and the bank details are correct is also advised before transferring any funds to the nominated account,’ she stressed.
This devastating experience serves as a reminder for home buyers to be cautious and take every precaution to avoid falling victim to scammers.
Would you have spotted the warning signs? Have you or someone you know ever fallen victim to a similar scheme? Share your thoughts and experiences in the comments below—your story might help others stay safe.
Stay updated and protected from the latest scams with the SDC’s Cybersecurity for Aussies over 60 modules. Read here.
With cybercriminals becoming increasingly sophisticated, even the most cautious individuals can find themselves caught off guard.
Here’s how one family’s dream turned into a nightmare after they fell prey to an elaborate scheme.
A Brisbane family’s dream of home ownership turned into a nightmare after falling victim to an elaborate email scam, losing $40,000 in the process.
Christine and David Rose spent seven years saving to purchase a home for their family of six.
The couple had just marked the milestone of buying their dream home, even placing a ‘sold’ sticker on the property’s for-sale sign.
However, their joy quickly turned to despair when they became the targets of a sophisticated cybercrime.
A scammer gained access to the email thread between the Roses and their conveyancing lawyer, using identical email signatures and letterheads to appear legitimate.
Christine explained that she was sent an email requesting the final $40,000 instalment for the house deposit, along with bank details for the transfer. Believing the email was from her lawyer, she complied.
Days later, Christine discovered the account to which she had sent the funds was fraudulent.
‘I don’t know how the scammers were able to impersonate our lawyer and join the email chain,’ she shared.
The family reported the incident to their bank, ING, the scammer’s bank, Commonwealth Bank, and the Queensland Police Cyber Crime Department.
Despite their efforts, they were only able to recover $3,000.
‘It was absolutely gut-wrenching. It’s unbelievable, we feel extremely violated,’ Christine shared in devastation.
The couple had to borrow an additional $40,000 to complete the purchase, but the extra loan left them in a precarious financial position.
Adding to their stress, their current rental property is listed for sale, and their lease expires in just three weeks.
Christine said her husband, David, was an ‘absolute wreck’ and struggling to process the ordeal.
To help recover from their financial setback, the Roses set up a GoFundMe campaign, which had raised $8,565 from 49 donations at the time of writing, with a goal of $40,000.
Email scams targeting home buyers has become a growing concern.
Slater & Gordon lawyer Julijana Todorovic highlighted the increasing number of inquiries from property owners falling victim to similar scams.
‘We’ve been approached by an increasing number of people who have unwittingly transferred large sums of money—many hundreds of thousands—in accordance with detailed instructions they’ve received via email purporting to be from their conveyancer,’ Ms Todorovic said.
‘But to their horror, they’ve learned that the email was from someone pretending to be their conveyancer. They’ve then discovered that the funds had not been transferred to the conveyancer’s trust account at all, but rather gone straight to a malicious actor,’ Ms Todorovic added.
He continued, ‘While some bank customers are able to get their bank to block transfers if the fraud was discovered promptly, in other cases it was too late.’
Ms Todorovic advised Australians to stay vigilant especially when transferring funds.
‘Double-check the email address of any payment instructions you receive from your conveyancer, and if the address differs from previous correspondence you’ve had from them, you may be being scammed.
‘Taking steps such as speaking to your conveyancer to check that the request for payment is legitimate and the bank details are correct is also advised before transferring any funds to the nominated account,’ she stressed.
This devastating experience serves as a reminder for home buyers to be cautious and take every precaution to avoid falling victim to scammers.
Would you have spotted the warning signs? Have you or someone you know ever fallen victim to a similar scheme? Share your thoughts and experiences in the comments below—your story might help others stay safe.
Stay updated and protected from the latest scams with the SDC’s Cybersecurity for Aussies over 60 modules. Read here.
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