The phone call that stopped a $100,000 stamp duty scam

NAB Digital Fraud and Scams analyst Sanu Ale Magar was reviewing the alert when she called the customer.

“He explained the payment was for stamp duty,” Sanu said. “That’s a common part of the home buying process, but something didn’t sit right so I took a closer look.”

Daniel told NAB the payment instructions had come via email from his solicitor and everything appeared legitimate and made sense based on where he was up to in the settlement process.

“These scams work because they arrive at exactly the right time,” Sanu said.

“People are expecting to move large sums of money, so the request doesn’t raise immediate alarm.”

Sanu placed the transfer on hold and advised Daniel to independently confirm the payment details with his solicitor using a trusted phone number.

“When Daniel called back, he said the email had not come from the solicitor at all. It appeared the bank details were fraudulent and part of a sophisticated impersonation scam,” Sanu said.

The transfer, worth more than $100,000, was stopped before any money was lost.

“The relief was immediate,” Sanu said. “If that payment had gone through, the funds would have been very difficult to recover.”

Scams like this, known as Business Email Compromise scams, are becoming increasingly common during property transactions.

Criminals often impersonate solicitors or conveyancers and send fake payment instructions at moments when buyers are under pressure to act quickly.

Stamp duty payments are particularly high risk, as they involve large one-off transfers and tight settlement deadlines.

For victims, the consequences can be devastating.

“For many people, this money represents their life savings,” Sanu said. “Taking a moment to stop and verify details can prevent enormous financial and emotional stress.”

Chris Sheehan, NAB’s Executive Group Investigations and former 27-year AFP member, says the biggest warning sign for Australians right now is pressure.

“Be especially cautious of urgent payment requests or sudden changes to bank details, even if they appear to come from a trusted organisation,” he said.

“If anything doesn’t feel right, pause and independently verify before making a decision.

“Most Business Email Compromise scams succeed not because people are careless, but because the request looks routine and sounds reasonable. A moment of verification, a call, a message, a second check, can stop a significant financial loss.”

For more information on how to protect yourself from scams, visit nab.com.au/security .