The Law Society has identified how conveyancers and their clients face an increased risk of committing a money laundering or mortgage fraud offence on account of the Government's recent initiatives aimed at supporting the housing market.

The two main schemes that give rise to an increased risk of fraud are:

Conveyancers must familiarise themselves and their staff with the risks that these schemes present, and take the necessary precautions to protect themselves, their firms and their clients from committing a money laundering or mortgage fraud offence.