Short answer: To reduce the risk of a property deposit scam, independently confirm the BSB and account number with the business you are paying before transferring any deposit or settlement money. Use a phone number you verified separately—not the number in the payment email.

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How can you avoid a property deposit scam?

Use three checks before every property payment to reduce property deposit scam risk: Pause, Call and Confirm. Fraudsters may compromise an email account and send convincing payment instructions within an existing conversation. A familiar logo, sender name or email thread does not prove the bank details are genuine.

1. Pause before transferring property money

Do not let an urgent message rush you into paying. Stop and check the amount, recipient and reason for payment. Treat unexpected bank-detail changes as a warning sign, even when the message appears to come from your agent, solicitor or conveyancer.

2. Call using a separately verified number

Call the business you are paying using a number obtained independently—for example, from its official website, an earlier verified document or your established contact details. Do not use a phone number contained only in the payment email because that number may also belong to the scammer.

3. Confirm the complete BSB and account number

Read out the BSB and account number and ask the intended recipient to confirm both. If the bank details change, repeat the independent verification. Replying to the same email is not an independent check and will not protect you if the email account has been compromised.

What should you do if you already transferred the money?

Contact your bank immediately and ask it to attempt to stop or recover the payment. Then alert your solicitor or conveyancer and the business whose email may have been compromised. Preserve the emails, payment receipt, bank details and any messages or call records. You can also report scams through Scamwatch and cybercrime through ReportCyber.

Property deposit scam safety checklist

• Verify payment instructions before the first transfer.
• Verify again whenever bank details change.
• Use a separately sourced telephone number.
• Confirm both the BSB and full account number verbally.
• Do not rely on logos, signatures or an existing email thread.
• Keep a written record of who confirmed the details and when.
• If concerned after payment, contact the bank immediately.

PA Law assists buyers and sellers with conveyancing in South Australia, including contract advice and settlement preparation.

Video transcript

Buying a property? Your deposit could go to a scammer—even when the payment email looks genuine.

So, how do you protect yourself from a house deposit scam?

Before transferring money, independently confirm the bank details with the business you’re paying.

Here are three checks to save before your next property payment.

One: PAUSE. Don’t let an urgent email rush you into paying. A familiar logo or an existing email conversation doesn’t prove the payment request is genuine. Email accounts can be compromised.

Two: CALL. Call your agent, solicitor or conveyancer using a phone number you’ve independently verified. Don’t rely on the number in the payment email.

Three: CONFIRM. Read out the BSB and account number and ask them to confirm both before you transfer. If the details change, verify them again. Replying to the same email isn’t an independent check.

Already paid and suspect a property settlement scam? Contact your bank immediately, then alert your solicitor or conveyancer.

Save this checklist, share it with someone buying a home, and follow PA Law for practical legal checks before you sign, pay or commit.

Related questions

Can a scam email appear inside a genuine email conversation?

Yes. If an email account is compromised, fraudulent payment instructions may appear within an existing thread and look convincing.

Should I trust bank details printed in an email attachment?

Do not rely on the attachment alone. Independently call the intended recipient and confirm the complete details before transferring money.

What if the agent or solicitor changes their bank details?

Pause and independently verify the change by telephone using a number you already trust. Do not use contact details supplied only in the change request.

Should I make a small test payment first?

A test payment is not a substitute for independently verifying the account details. Confirm the account before sending any amount.

Who should I contact first after a suspected scam payment?

Contact your bank immediately because speed may affect whether the payment can be stopped or recovered. Then notify your solicitor, conveyancer or agent.

This page provides general information only and is not legal, financial or cybersecurity advice. Obtain advice appropriate to your circumstances.