Last night saw a gathering of leading lenders and suppliers to the mortgage industry who were all winners and highly commended businesses at the 16 annual Mortgage Finance Gazette Awards. The event was an informal gathering at the Royal College of Physicians, sponsored by E-Tech, a leading provider of mobile surveying and workflow management software.
Lawyer Checker is beyond thrilled to announce that they are the proud winners of the Best Anti – Fraud Service award for 2017!
This is a real achievement as the category recognises the very best in product providers; those who can demonstrate that they offer consistently good, competitively priced mortgage and conveyancing products during the whole of the year.
Joanne Atkin, group editor of Mortgage Finance Gazette, said: “The service that Lawyer Checker offers addresses a growing fraud risk and is gaining traction in the industry. We have heard horror stories of people losing thousands of pounds by unwittingly using bogus solicitors. The concept is simple, it’s just a check that the lawyer you are using is genuine, but it has saved the industry, and customers, a substantial amount of money.”
Lawyer Checker’s Account & Entity Screen has been recognised for its comprehensive offering which enables firms to ensure that they are doing their very best when it comes to protecting client and lender monies.
In recent years, the threat of the cyber criminal and property fraud has grown exponentially. Each month we hear of a cyber-attack on innocent house buyers and their conveyancers; a problem which the SRA is stating all firms must take seriously.
According to the regulatory body’s report, a quarter of all law firms have been a victim of cyber-attacks with 10% of those experiencing money losses as a result. The threat of the bogus law firm is not looking like it is going away either; in just 4 years the number of reports regarding bogus firms has doubled with the SRA saying they now receive over 700 per year.
In a recent Experian report, it was stated that the level of mortgage and property fraud accounts for 6% of all fraud cases and this has increased by a massive 50% within the last year.
Implementing Lawyer Checker’s award winning Account & Entity Screen aids firms and conveyancers in the fight against bogus firms and fraudsters. Due diligence is provided on all results that appear as infrequent or unknown; it is no longer enough to simply perform the due diligence out of necessity and not follow up on any red flags that may arise. The courts do not find this acceptable and neither will the professional indemnity insurers.
Lawyer Checker business development manager, Paul Tucker, on receipt of the award stated: “This is fantastic recognition for the brand and really demonstrates how as a legal services provider, Lawyer Checker provides topline risk management and anti-fraud processes. The lender market will benefit from law firms implementing our products as a key element to their transaction process. Knowing that both client monies and mortgage advance funds are being protected in such away only further assists conveyancers in their fight against the fraudsters and their adherence to Principle 10.”