- Email compromise scams intercept conveyancing communications to redirect purchase funds.
- Fraudsters create email addresses almost identical to those of attorneys and developers to deceive buyers.
- Wire transfer instructions should always be verbally confirmed by calling the attorney on a known number.
- Jamaica’s Cybercrimes Act 2015 creates offences targeting electronic fraud in financial transactions.
- All parties in an electronic conveyancing chain should use secure, encrypted communication channels.
Business email compromise — in which a fraudster intercepts or spoofs email communications between parties to a financial transaction and substitutes fraudulent payment instructions — has become one of the most financially damaging forms of cybercrime in the real estate sector globally, and Jamaica is not immune. In a typical attack, a fraudster monitors the email communications between a buyer and their conveyancing attorney, identifies the point at which payment instructions will be issued, and sends a fraudulent email from an address nearly identical to the attorney’s — perhaps with one character changed — directing the buyer to transfer completion funds to a different bank account. By the time the genuine attorney discovers what has happened, the funds have been moved through multiple accounts and are unrecoverable. The Cybercrimes Act 2015 criminalises this conduct in Jamaica, but recovery of stolen funds is rarely possible after the fact.
Identity and Document Fraud in Digital Transactions
Electronic conveyancing also creates new vectors for identity fraud. Where an attorney accepts scanned documents as proof of identity in lieu of originals — a common convenience for overseas clients — there is a risk that the scanned identification documents are fabricated or that they belong to a real person whose identity has been stolen. A fraudster who succeeds in impersonating a property owner in a digital transaction can instruct an attorney to register a transfer of the owner’s property, take out a mortgage on the property, or execute a lease, all using digital documents that cannot easily be distinguished from genuine instruments. Attorneys are required by their professional obligations and under Jamaica’s anti-money-laundering regime to conduct know-your-client procedures, and the General Legal Council and MOCA set standards for client identification that should include robust verification of digital documents.
Secure Practices for Digital Property Transactions
Buyers, sellers, and attorneys can significantly reduce their exposure to electronic conveyancing fraud by adopting a small number of protocols. All payment instructions should be communicated in person or by telephone using a number previously established as genuine — never in response to an emailed instruction received for the first time. Email addresses should be checked character by character before sending any sensitive information. Attorneys should use encrypted email or secure client portals for the transmission of completion statements and payment instructions. For high-value transactions, a dual-authorisation process for outgoing payments adds a further layer of protection. If any party believes their email or communication systems may have been compromised during a transaction, they should immediately inform all other parties and change their passwords and security credentials before proceeding.
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